Keystone Capital (“Keystone”) is pleased to announce that its portfolio company, KENDELL, has completed the acquisition of Watson Security Group, a leader in electronic access control integration and mechanical security services based in Seattle, WA. KENDELL is a leader in the commercial door and door hardware distribution industry based in Minneapolis, MN.
The acquisition of Watson is a strategic extension of KENDELL’s core door openings distribution market position into the aftermarket service industry and reinforces KENDELL’s commitment to providing full-service, full-lifecycle solutions to its client base. Additionally, the acquisition further solidifies KENDELL’S leading market position in the Pacific Northwest, complementing its existing door and door hardware distribution business in Tacoma, WA.
“Watson represents an intriguing strategic move for KENDELL,” commented Jason Van Zant, Managing Director at Keystone Capital. “This acquisition will enable KENDELL to provide more value-add and full lifecycle solutions to clients, as well as further differentiate KENDELL from competition.”
Watson Security is KENDELL’s third add-on acquisition since partnering with Keystone in April 2019. KENDELL is actively seeking additional acquisition opportunities and parties with knowledge of potential investment opportunities are encouraged to contact Keystone Capital. Areas of interest for additional add-on acquisitions include: (i) commercial door and door hardware distribution, (ii) electronic security and access control integration, and (iii) commercial locksmiths and physical access / door service organizations.
Jason Van Zant