Protos Security, a managed services security guarding provider and a portfolio company of Southfield Capital, has acquired Blue Star Security, a provider of off-duty officers in the Midwest.
Headquartered in Chicago, Ill., Blue Star offers armed security consisting of off-duty and retired law enforcement officers for Fortune 500 companies and small-to-medium-sized businesses. The company has operations in Illinois, Indiana and Wisconsin and employs over 850 active and retired police officers. Blue Star co-founders Anthony Varchetto and Jeffrey Salvetti will join Protos’ leadership team at the closing of the transaction.
“This strategic acquisition further strengthens our service offering and we look forward to providing our customers with an enhanced suite of security solutions, particularly as it relates to off-duty police officers,” comments Anthony Escamilla, chief financial officer at Protos. “Our ability to provide a holistic set of security solutions to meet all customer needs continues to improve and adding Blue Star Security to the Protos family positions us well for continued growth.”
Monroe Capital LLC and Wells Fargo Bank provided debt financing. Troutman Pepper Hamilton Sanders LLP provided legal counsel to Protos and Southfield Capital.