Regent president and CEO Ernie Sizemore said he sold the business in order to be free to pursue mission work and that it was in good financial condition.
“As a long-term family business, you can imagine this was an emotional decision,” he said. “We were financially strong entering the transaction, and our footprint blended well into (Universal Protection Service’s) expansion plans as they enter this market.”
Regent has more than 1,000 employees, and Sizemore said the acquisition will result in the loss of only three accounting positions and his position. He will work with Universal Protection in a one-year transition phase.
According to Steve Jones, co-CEO and COO of Universal Protection’s parent company, Universal Services of America, the acquisition will allow the company to expand into the Southeast through an already successful company and existing customer base.
“Regent is an outstanding company led by a strong and professional management team who share a similar culture and customer-service philosophy as us,” Jones said. “We are very excited about this acquisition as it further expands our presence and capabilities in the Southeast and continues to makes Universal Protection Service a true national provider.”
Universal Protection is based in Santa Ana, Calif., and was founded in 1965. With its recent acquisitions of Regent and two other security companies, it now employs more than 17,000 security professionals across the U.S.