Command Security completes United Security acquisition; Expands board and management responsibilities.LAGRANGEVILLE, N.Y.--(BUSINESS WIRE)--Feb. 27, 1995--William C. Vassell, chairman of Command Security Corp. (NASDAQ-NMS:CMMD CMMD Ceramic Metal Matrix Diaphragm CMMD Command ), a rapidly growing provider of security guard services with approximately $40 million in annual revenues today announced that Command acquired the business of United Security Group, a leading New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the firm with annual revenues of $25 million. The combination makes Command one of the largest contract security companies in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. and 15th largest in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "We feel the United transaction will not only offer attractive shareholder value due to its synergies, it also brings United's seasoned industry management led by John B. Goldsborough, a former executive officer of Burns International Security Services Inc," Vassell states. Vassell is also pleased to announce that Command's board of directors elected Goldsborough to the position of president and chief executive officer and a director of Command and also elected H. Richard Dickinson as executive vice president and chief financial officer of Command. Prior to the transaction Dickinson was CFO See Chief Financial Officer. of United Security Group and previously was a vice president and treasurer of Burns and assistant treasurer of Baker Industries. Vassell will continue as chairman of the company. Gordon Robinett, formerly treasurer, will become vice chairman of Command. Command also added Peter Kikis, a private investor and Lloyd H. Saunders, III of Sand Brothers & Co. Ltd. to its board of directors. Financing for the transaction was provided by The CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group and Sands Brothers. Vassell and Goldsborough jointly agree that, "The addition of United Security's Aviation Safeguards and Management Safeguards operating divisions represents a key alliance which furthers Command's significant share in the real estate security segment and now gives it a strategic position in the aviation security market." Command Security Corp. provides security services through company owned offices in New York, New Jersey, California, Illinois, Connecticut, Massachusetts and Florida and also provides back office service agreements to independent security companies nationwide. CONTACT: Command Security Corp. William C. Vassell, 914/454-3703 or Howard Bronson & Co. Michelle Sotnikou, 212/867-6160 |
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