Blue River Advises Portland Safe on Sale to Everon

March 26, 2024 – Blue River Financial Group has advised Portland Safe, Inc., authorized dealer and service provider of NCR ATM and ITM products, on its sale to Everon, formerly known as ADT Commercial. Everon acquired all stock of Portland Safe Inc. The acquisition not only increases Everon’s customer base, but also expands its reach into a competitive geographical footprint.

Portland Safe specializes in providing security solutions for banking and financial institutions, including community banks, credit unions, and related businesses across Maine and New Hampshire. Portland Safe teams are experienced in the delivery, installation, service of the latest technologies in access control, alarm systems, video surveillance, physical security, drive-up equipment, cash handling equipment, NCR Interactive Teller Machines (ITMs), ATMs, and more. The sellers, Brian Sevit and John Fecteau purchased Portland Safe, Inc. in 2013.

Everon is a leading security integrator and premier provider of commercial security, fire and life safety products to a wide array of industries. Everon’s acquisition enhances the company’s position as a leading national provider of security solutions for financial institutions.

“We’re looking forward to welcoming Portland Safe’s employees to Everon and adding their wide-ranging knowledge and expertise to our deep bench of talent,” said Dan Bresingham, Chief Executive Officer at Everon. “We’re excited to have them on this journey with us, setting our sights on a future formed by outstanding service, a commitment to excellence, and identifying opportunities to grow our services and capabilities in the Northeast.”

Brian Sevit, Portland Safe Co-owner, will continue to help lead the business under Everon’s ownership. Brian explained, “At Portland Safe, we pride ourselves on being an organization that is completely dedicated to anticipating and meeting the needs of our customers, and being that local partner, they can rely on. We’re thrilled at the opportunity to grow our breadth of capabilities and flexibilities to serve our customers at even higher standard of quality with Everon – still maintaining that local touch and focus.”

John Fecteau, Portland Safe Co-owner said “I’m thrilled for our employees and customers as we become part of the Everon family and join forces with their dedicated professionals. Collaborating with Blue River made the negotiation process and due diligence smoother, allowing us at Portland Safe to maintain our focus on our customers’ needs throughout the process. Everon provided invaluable guidance during the due diligence and onboarding phases of the transaction. Our entire team received a warm welcome from the Everon management team, which we deeply appreciate”.

Evan Haigh, Vice President of Blue River, served as lead investment banker on this transaction. Evan noted, “Ideal transactions are realized when both parties achieve mutual satisfaction. Everyone involved in this transaction exerted significant effort to ensure its successful completion. In this instance, the alignment of cultures was seamless, and we anticipate that the principals involved will remain excited with the outcome of this deal for many years to come.”

Contact

William Loftis
Managing Partner
wloftis@goblueriver.com

About Blue River

Blue River Financial Group is a middle market merger and acquisition advisory firm. We assist corporations, private equity groups and individuals in the sale and acquisition of businesses and have completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations, and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.

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