Venture Firm Buys Office Security Specialist
Thursday, January 18, 2007
Venture capitalist Mark Ein bought Kastle Systems International, the Washington area's largest building and office security company, for an undisclosed sum.
Kastle founder A. Gene Samburg will continue to run the Arlington company, which provides security systems to more than 1,800 properties in the United States and Australia. There are 1.8 million people who hold Kastle security cards across the country, Ein said.
"This is the kind of franchise you can grow, own and build over a long period of time," he said.
Kastle has more than 475 employees at offices in Arlington, New York, Los Angeles, Houston, Dallas, Philadelphia, Chicago and Sydney.
"I was impressed with [Ein's] view of what he would do if he owned this company," Samburg said. "He liked what he saw and didn't want to change it. He only wanted to grow it."
Ein, 42, is the founder and chief executive of Venturehouse Holdings, a District firm that specializes in technology and telecommunications start-ups. Venturehouse's previous investments include Matrics Technology, Cibernet and VSGi, and an early investment in XM Satellite Radio.