Andrews International Announces Agreement to Acquire Setec Protection Services

LOS ANGELES, Calif. (July 9, 2007)—Andrews International today announced it has entered into an agreement to acquire Setec Protection Services, a Houston-based security services firm and subsidiary of Hines. Setec provides uniformed security services to commercial real estate, corporate and various other market sectors throughout Houston and surrounding metroplex areas.  

Mark Cover, executive vice president of Hines, states:  "…30 years ago when we created Setec, we felt that our security needs in the industry were not being met. The growth rate and quality expectations of our commercial real estate properties were exceeding the capabilities of the private security industry.  We are proud that we were able to develop Setec into one of the most respected and advanced security firms in the Southwest, and we believe that Andrews will provide seamless continuity in excellent tenant service. Their business philosophy parallels the quality approach of Hines."

Randy Andrews, chairman and CEO of Andrews International, states:  "…the acquisition of Setec Security is an important addition to the Andrews International's security and risk mitigation service portfolio, and represents a company that matches very well with our internal culture and focus on high-value customer service."

Setec Protection Services will formally change its name to Andrews International. An updated visual and brand identity, including logo, tagline, sales support tools and Web site will accompany this name change. Financial terms of the acquisition have not been released. 

Ty Richmond, co-president and COO of Andrews International, states:  "Along with strong management and a quality team of security professionals, Setec has an exceptional reputation in the security industry, and we believe that their extensive expertise complements Andrews International's successful track record.

The acquisition of Setec represents continued progress in growing our global commercial real estate services vertical and establishes an important footprint in the Houston market. Steve Pack, GM of Setec, will become the vice president of the Andrews International's Southern Region, based in Houston, and lead the integrated assets of both companies throughout Texas and Louisiana."

About Andrews International

Andrews International, headquartered in Los Angeles , California , is a full service provider of security and risk mitigation services with operations throughout the United States and internationally. As one of the largest privately-held, American-owned security firms, Andrews International employs nearly 4,000 security personnel providing uniformed security, consulting and investigative services, personal protection, special event security, training and alarm monitoring and response, and disaster emergency response services. The company is owned by executive and management team members with investment backing from DFW Capital Partners, Meridian Venture Partners, Theo Capital Partners and affiliates of New York Life. 

top