“Making false statements about the creditworthiness of borrowers undermines the integrity of our banking system and puts at risk the taxpayer dollars that help to support it,” said Acting Assistant Attorney General Jeffrey Bossert Clark of the Justice Department’s Civil Division. “We will pursue those who fail to provide truthful information needed by federally insured financial institutions to make appropriate lending decisions.”

The matter was investigated by the U.S. Attorney’s Office for the District of Utah and the Civil Division’s Commercial Litigation Branch (Fraud Section). Investigative assistance was provided by the FBI.

“American business should be based on truthful disclosures, and false and misleading statements should never be part of dealings with federally insured financial institutions,” said U.S. Attorney John W. Huber for the District of Utah. “This resolution should send a strong message to corporations that using fraudulent tactics to secure consumer sales will not be tolerated.”

The allegations resolved by the settlement were initially provided to the United States in a declaration submitted under the Financial Institutions Anti-Fraud Enforcement Act, which provides for rewards to eligible declarants who provide information about potential FIRREA violations.

In a statement, Vivint said, “We are pleased to have reached this resolution related to certain past sales practices by some of our sales representatives. In addition to cooperating with the DOJ, we have addressed the issues and continue to strengthen our compliance policies, practices and procedures.”

CPI Security Systems, SDM’s 2019 Dealer of the Year, filed a lawsuit in September against Vivint accusing the company of tricking customers into signing up for Vivint’s services by posing as CPI employees or representatives. A month before that, ADT filed an unfair competition suit in Florida against Vivint, alleging that Vivint salespeople go into ADT customers’ homes, get them to sign Vivint contracts and install Vivint alarm systems in their homes under false pretenses.

Vivint also had its solicitation permit revoked by police in Huntersville, S.C., for breaking door knocking rules and being overly aggressive just two weeks after being granted a solicitation permit in June 2019.

The claims resolved by the settlement are allegations only, and there has been no determination of liability. — By SDM Staff Editor Amanda Reed //

“The Security Industry Association (SIA) and ASIS International have always believed that the safety and security of people and property is a necessity not only in America, but across the globe,” the statement reads. “The events of Jan. 6 only strengthen our resolve to provide our members and community with the tools and network to do so. We are grateful every day for the security professionals everywhere who work tirelessly to protect us.”

SIA headquarters are located in Silver Spring, M.D., just six miles away from Washington, D.C.; ASIS International’s headquarters are located eight miles away from the capital in Alexandria, Va.

“Following tragic events, collaboration among membership organizations becomes even more essential,” said SIA CEO Don Erickson. “SIA offers perimeter security education resources to the industry and recommends the resource provided by ASIS International that could be leveraged to help protect public buildings. We look forward to continued discussions with ASIS International and other organizations to help keep the public safe.” — By SDM Staff Editor Amanda Reed //

Takahashi recently held the position of CEO at Pelco Inc., a global provider in intelligent video solutions, where he led the transition from Schneider Electric to a fully independent Pelco, implementing their global strategy to assist in Pelco’s growth. In July of 2020, he led the sale of Pelco to Motorola Solutions. Previous to Pelco, Takahashi was the president of AMAG Technology, an end-to-end security management platform. At AMAG, his leadership transformed the company from being an access control-focused business into an open, innovative security management solution. Prior to AMAG, Takahashi was the vice president of global sales and marketing at Quantum Secure, a physical Identity and access management software provider, where he led sales, business development and marketing. In 2015, Takahashi helped lead the sale of Quantum Secure to HID.

Hamilton, who led the search for an American-based successor, said, “It is great to have Kurt join the team. I firmly believe that having American-based leadership is key to taking this Irish company to the next level in that market while I concentrate on building our presence in Europe as well as maintaining and enhancing our monitoring services to our customers.”

Speaking about his new position, Takahashi said, “I am honored and excited to lead the Netwatch Group. Netwatch, NMC and CalAtlantic are innovative businesses that provide solutions and services that help a wide range of customers utilize technology to enhance their security risk profile. As well as European-based services we can offer customers a fully-American based monitoring service which many customers want.” //

As part of the transaction, Teledyne has arranged a $4.5 billion 364-day credit commitment to fund the transaction and refinance certain existing debt. Teledyne expects to fund the transaction with permanent financing prior to closing.

Teledyne expects the acquisition to be immediately accretive to earnings, excluding transaction costs and intangible asset amortization, and accretive to GAAP earnings in the first full calendar year following the acquisition.

Robert Mehrabian, executive chairman of Teledyne, noted that at the core of both companies is proprietary sensor technologies. Its business models are also similar: each provide sensors, cameras and sensor systems to its customers. However, Mehrabian pointed out that the technologies and products are complementary, with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths.

“For two decades, Teledyne has demonstrated its ability to compound earnings and cash flow consistently and predictably,” Mehrabian said. “Together with FLIR and an optimized capital structure, I am confident we shall continue delivering superior returns to our stockholders.”

The transaction, which has been approved by the boards of directors of both companies, is expected to close in the middle of 2021. //

SDM: You have a background in sales and strategy. How does that help your leadership style?

Jensen: Well, I’m not sure my background in sales and strategy particularly helps my leadership style in any particular way. I think my leadership style and my approach to leadership is more founded in my core belief of how I see people interacting and helping each other to accomplish extraordinary goals. So for me, my background could have been carpeting. Now, it happens to be sales and strategy; and that has always taught me a lot of things in running businesses, driving businesses, but also to realize that when you’re a team, you can achieve much higher goals than you can when you’re an individual.

SDM: What has been your favorite part about stepping into this position?

Jensen: I think my favorite part of becoming a part of Milestone has been to realize that we are a company that walks the talk when it comes to our culture and our approach that we put people first. ... Milestone, culture is absolutely the backbone of our business. And I love that backbone; the real core is our people first approach. So that is something that has confirmed to me that I made the right choice.

SDM: What would you like to accomplish in your first year, and maybe even some long term goals after the first year?

Jensen: Apart from a very steep learning curve — but that's the same whatever job you change into in a new company — [My goals are] also to work closely with my colleagues, and I would say it’s one of the one of the first times that I’ve joined a company where the level of competence, passion and ability is just exceptionally high. So my first year [goals] will be to work with our teams to set out the future direction. We have a very strong foundation in video management software. We have a great product that is admired and respected from our partner community and our customers. We need to define what’s next for us. How do we ensure that we keep delivering technology and software to our customers, and keep evolving that together with our very strong partner community?

Listen to the complete conversation online. —By SDM Staff Editor Amanda Reed //

“I’m very proud to have Brian be the third generation of the Duffy family to lead Per Mar,” said Michael Duffy, chairman of the board. “I have total confidence in Brian’s judgement and his ability to make the right decisions in addressing any challenge that would face our company. Making the right judgement or solving a problem is never difficult if you have the best interest of our team members and customers at heart, which he does. He understands that while we may be confronted with short-term challenges or issues, we will never make a decision that benefits our company at the expense of team members or customers. Taking care of our team and customers short-term is what drives our long-term success and he understands that fact.”

In his role as president and CEO, Duffy will assume responsibility for the long-term vision and ongoing strategic plan ensuring the viability and success of the organization. He will continue to be responsible for all operations in the company, and be working closely with the division heads and support groups.

Duffy joined Per Mar full-time in 2012 as general manager of the Cedar Rapids, Iowa, branch. Previously he worked for Capital One Financial in Richmond, Va. Since joining Per Mar, he has taken on new roles and responsibility including president of the Electronic Security Division and most recently Chief Operating Officer.

Duffy is an active member of numerous security associations locally and nationally. He serves on the board for NetOne and Junior Achievement of the Heartland. In addition, he is active in the North Scott Rotary Club and the Notre Dame Club of the Quad Cities. A native of Davenport, Iowa, Brian Duffy graduated from University of Notre Dame with a Bachelor of Arts in Economics. //

SFAK provides integrated security and fire alarm systems. Based in Visalia, Calif., the company designs, installs, monitors and services security systems for industrial, commercial and residential customers throughout Tulare County.

“Security First Alarm King is a perfect fit for Kimberlite,” said Joey Rao-Russell, president and CEO of Kimberlite. “During this process, we have been impressed by the high quality of the customers and employees at SFAK. Robert and Sabrina Shahan have been a pleasure to work with through this process. They, and all their employees, will be staying on with Kimberlite. Kimberlite is committed to providing the same high quality service that SFAK’s customers have come to expect.”

Kimberlite, recently named SDM’s Dealer of the Year for 2020, is the largest independent Sonitrol Franchisee. Based in Fresno, Calif., Kimberlite has consistently been ranked in the SDM 100 top companies for the past 20 years. Kimberlite also operates an award-winning central station specializing in audio and video verified security solutions.

Robert Shahan of SFAK added, “I look forward to working with Joey and Kimberlite to continue to offer leading-edge security solutions to our existing clients as well as expanding our customer base within our footprint.”

SPP Advisors represented Kimberlite in this transaction.

Legacy Security Consulting represented Security First Alarm King. Legal representation for Kimberlite was provided by Mary Ann Dunham of Buchanan Ingersoll and Rooney, PC. Legal representation for SFAK was provided by Lilianne Chaumont of Chaumont Law. //