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Harding Security Services Inc.
M&A advisory for the security industry

Harding Security

Unlocking Opportunities in the Security Industry

Victor Harding, Founder and President

For decades, Victor Harding has helped owners of alarm, guard, fire, integration and audio-visual companies sell their businesses confidentially, and for what they are truly worth.

Victor Harding runs every engagement personally.

Victor Harding, leaning on the back of a chair in his Toronto office
The principal
“You built it over a lifetime. My job is to make sure it ends up in the right hands, quietly, and at full value.”

Harding Security was founded in 2009 by Victor Harding to serve one industry: security. He has spent more than thirty years in it, first co-owning Alliance Security, then leading acquisitions and dealer programs at VOXCOM and Reliance-Protectron.

That means you work directly with someone who has sat in your chair, knows your buyers by name, and understands exactly how alarm, guard, fire and integration businesses are valued.

  • Trained as an accountant
  • In the security industry since 1994
  • Owner, then acquirer, then adviser
  • Accepted as an expert witness in court

Member of CANASA, CASA, CSAA, Canadian Fire Alarm Association

Victor Harding seated on the windowsill of his Toronto office

Victor Harding, Founder and President

The track record

The track record

75+
Transactions completed
Across Canada
$15M
Deal sizes
From $50,000 to $15 million
30+
Years in the industry
Experience in several sectors of the industry, across Canada
100%
Security-industry focus
Victor advises on nothing else
Sectors

Five sectors. One specialty.

Each corner of the security industry is valued differently. Victor speaks the language of all five, and knows the buyers active in each.

01

Alarm Dealer Services

Residential and commercial alarm dealers with recurring-revenue accounts.

Valued on a multiple of recurring monthly revenue (RMR), adjusted for attrition and account quality.

02

Alarm Monitoring Services

Central and wholesale monitoring stations, often ULC-listed.

Valued on a multiple of RMR, with larger, automated stations often priced on EBITDA.

03

Fire Services

Fire protection, sprinkler and life-safety service providers.

Valued on a multiple of EBITDA, weighted toward recurring inspection and service revenue.

04

Guard Services

Security guard, mobile patrol and event-security companies.

Valued on a multiple of EBITDA, lower than recurring-revenue alarm businesses because of thinner margins.

05

Security Distribution

Distributors and wholesalers of security and life-safety equipment.

Valued on a multiple of EBITDA, with margin, inventory turns, and working capital driving the range.

Selected transactions

A track record you can name.

Alarm Dealer2026

Accuguard Security

Acquired by

Allfine Security Systems

Grimsby, ON300 accounts
Alarm Dealer2026

Alliance Technology

Acquired by

API Alarms

Cambridge, ON
Audio-Video2026

Disc N Dat Audio-Video

Acquired by

A local individual

Windsor, ON
Alarm Dealer2025

Dell Smart Home Solutions

Acquired by

Telus Security Division

St. Catharines, ON
Alarm Dealer2025

Red Dot Alert

Acquired by

Alarm Guard Security Systems

Ottawa, ON
Guard Services2024

Gardwell Security Agency Inc.

Acquired by

Lion Guard Corp.

Toronto, ON
Alarm Dealer2022

Cairns Control Systems Inc.

Acquired by

Liberty Security

Mississauga, ON
Alarm Dealer2022

Canaforce Security Group

Acquired by

A.P.I. Alarms Ltd.

Markham, ON1,150 accounts
Alarm Dealer2022

Ensign Electronic Alarm Systems

Acquired by

A.P.I. Alarms Inc.

Welland, ON2,600 accounts

Plus dozens more across Canada.

What owners say

In their own words.

“Using the services of Harding Security to sell my business not only got me a great deal but also made the whole process faster, smoother and a lot less work for me! Victor's experience and personal efforts made a significant contribution to securing and closing our deal successfully. The fees for Harding Security Services are more than worth the investment.”

Bolt Security

“Victor Harding's extensive professional network of security professionals and executives was instrumental in finding an optimal buyer for my private security firm. Victor was exceptionally patient during this lengthy process, but maintained a high level of commitment throughout and was eager to provide valuable insights drawn from his extensive industry experience.”

Co-Owner, Delta Security and Safety Services · October 2020

“Victor Harding's competence and proficiency in handling the sale of our regional security guard company was outstanding. The transaction was fast, smooth and he certainly knew how to find the right buyers. His sales and accounting acumen are stellar. His specializing in the security field certainly is a bonus and you should know your transaction will get his undivided attention. Thank you Victor for creating a smooth transaction.”

CEO, Kawartha Guard Service · December 2022
Why choose Victor

Why owners choose Victor.

01

Industry-specific experience

Victor has experience in almost every sector of the security industry.

02

An extensive network

Victor knows the buyers and sellers active across the industry, and how to reach them.

03

A proven track record

A long record of successful transactions completed.

04

You keep running the business

Victor does the work to sell the company while you continue to run it.

05

With you until you are paid out

Victor stays with his client all the way through, until they are completely paid out.

How it works

A confidential process, run with discipline.

Here is Victor's process for a sell-side deal. From the first conversation to close, your staff, customers and competitors never learn the business is for sale, not until you decide otherwise.

01

Initial consultation

Victor learns the business and acquires its key metrics.

02

Creation of the selling package

Victor prepares the Confidential Information Memorandum, presenting your company to buyers in the best possible light. He is known for creating very good selling packages.

03

Search for buyers and solicit offers

Different buyers suit different deals. This step can take anywhere from two weeks to two months, depending on the company being sold.

04

A signed Letter of Intent

Several key factors enter here: buying shares or assets, the price and payment terms, and whether there will be holdbacks, VTBs or an attrition guarantee.

05

Push to close

Victor helps you prepare for due diligence and do what it requires, and reviews the purchase agreement on your behalf.

Discretion

Every conversation is confidential. No obligation.

Your interest in selling stays between you and Victor, protected by NDAs, blind profiles, and a buyer list he has vetted personally. He will tell you plainly where you stand and what your business is worth.

01

NDAs by default

02

Blind company profiles

03

Personally-vetted buyers

04

Secure data room

Start here

Considering your options? Let's have a quiet conversation.

Whether you're thinking about selling or looking to acquire, the first call is confidential and costs nothing. Just an honest read on where you stand.

Considering selling?

Find out what your business is worth and what a sale could look like.

See what your business is worth

Looking to acquire?

Tell Victor your acquisition criteria and he will keep you in mind for the right fit.

Register as a buyer
victor@hardingsecurity.ca+1 (416) 925-747470 Shaftesbury Avenue, Unit 10, Toronto, Ontario M4T 1A3