Reframing Perimeter Security: Where Infrastructure Meets Intelligence

In the first quarter of 2026, our Industrials team continued to allocate meaningful time to our subsector focus on Perimeter Security. As physical security, access control, and intelligent monitoring systems continue to converge, we see increasing demand for integrated solutions that protect assets across every layer of the built environment.

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To deepen our perspective, our team attended both FENCETECH in February and ISC West in March, engaging with operators, manufacturers, integrators, and technology providers across the ecosystem. A clear takeaway from both events was the shift toward layered, end-to-end security strategies, where physical infrastructure and technology-enabled systems are no longer viewed in isolation but as part of a unified solution.

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We think about this market through three distinct – but increasingly interconnected – layers:

• The outermost layer begins at the property boundary, where physical infrastructure serves as the first line of defense. Perimeter barriers such as fencing, gates, bollards, and barriers are designed to clearly define the site and prevent unauthorized access. These solutions remain durable and mission-critical across industrial, commercial, educational, and critical infrastructure environments, forming the foundation for more advanced security systems.
• Beyond the physical boundary, a layer of intelligence provides visibility across the perimeter. Surveillance systems, sensors, and access controls allow operators to detect and assess activity in real time, often before a threat reaches the asset. This shift toward proactive monitoring improves response times and is increasingly supported by AI-driven capabilities.
• At the building itself, security is focused on access points and the building envelope. Doors, windows, docks, and locking systems control entry while reinforcing the integrity of the facility. These solutions must remain durable and compliant, particularly in high-traffic environments.

Below is an illustrative selection of portfolio companies that exemplify the convergence of key perimeter security capabilities.

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From our perspective, Perimeter Security sits at the intersection of industrial services, building products, and security technology. Additional private equity-backed platforms, such as‍

• ‍American Fence & Supply (backed by Garnett Station)‍
• Chamblee Fence Company (backed by Brighton Partners)‍
• Premier Fence (backed by Harkness Capital)‍
• Perimeter Holdings USA (backed by Kian Capital)‍
• Fence Builders (backed by Watchtower Capital)

are actively consolidating the space through add-on acquisitions to expand geographic density, broaden capabilities, and build scale. Demand is being supported by strong tailwinds from stricter safety expectations and sustained infrastructure investment. At the same time, facilities are becoming more connected, pushing security systems toward more integrated, data-driven solutions. What was once a fragmented set of products and services is rapidly evolving into a cohesive, multi-layered ecosystem that is increasingly attractive to buyers seeking scalable growth through consolidation.

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DISCLAIMER This presentation is intended for information and discussion purposes only and does not constitute legal or professional investment advice. Statements of fact and opinions expressed are those of the participants individually and, unless expressly stated to the contrary, are not the opinion or position of Harbor View Advisors, LLC (“HVA”). The information in this presentation was compiled from sources believed to be reliable for informational purposes only. HVA does not endorse or approve, and assumes no responsibility for the content, accuracy or completeness of the information presented.