Mel Mahler has stepped down as chairman and CEO of ADS Security, the home and business security firm he helped build into one of the largest of its kind in the country.
Mahler (pictured) had led ADS since its launch 1990 and is now chairman emeritus of the company, which has 70,000 customers in 15 markets in seven states. John Cerasuolo, the company's president and COO since 2008, will take over the CEO role. Bill Hunt, president of the Pennsylvania-based holding company that owns the majority of ADS, is now chairman.
“I have valued my relationship with Bill Hunt and the Elmhurst group since we became partners in 1991”, said Mahler. “It is very unusual for an investment partner to stay committed to a relationship for that many years and they are more committed today than ever. It was a moment of faith when they joined me as a partner since I had a very short track record in the electronic security industry at that time.”
In a statement, Cerasuolo said he expect ADS to make more acquisitions to grow ADS and add more technology to its offerings. The company, he added, is poised to post record revenues this year and recently increased its line of credit with Bank of America to $40 million from $25 million.
“We are grateful for Mel’s vision and leadership during the past 22 years,” Hunt said. “He built the company from scratch to make ADS a leader in the security industry. [...] We will miss Mel’s leadership but we are also excited about taking the next step in the leadership transition plan that we started five years ago with John Cerasuolo.”
POSTDATA: WARRANTY DEEDS