On this pageRoll-up summary By brand Rack & stack Cohort table

Brand / M&A 360

The roll-up lens — proving the thesis deal by deal, and surfacing the integration drag that holds margin back.

Pavion · FY26 (modeled)

#4 SDM Top Systems Integrators (2025)

2,800 employees · 70+ US sites · 23 countries

▲ Executive read· the answer, then the moves

The roll-up thesis is working — +$24M of EBITDA captured and 74% of synergy banked — but 4 in-flight businesses ($165M revenue) still hold margin back. Finish their cutover to close the gap to 100% synergy, the highest-return work in the company.

4 of 4 headline metrics improving vs prior · still off target: M&A Synergy Realization 78.0% vs 100.0%, Adj. EBITDA Margin 14.8% vs 16.0%, DSO (Days Sales Outstanding) 54d vs 48d

Do now — ranked by urgency

1
Finish the 4 in-flight integrations to close the synergy gapAct now
Why it matters
Avg synergy is only 74% of plan banked; the unrealized balance is EBITDA already underwritten but not yet captured.
What's driving it
Avg synergy 74% of plan
4 businesses in flight ($165M revenue)
FYI
In flight: RFI Enterprises, ISC, ECD Systems, Signet
EBITDA uplift to date +$24M
See the cutover plan →
2
Recover Signet — lowest synergy at 40%Act now
Why it matters
Signet is the weakest cohort on synergy capture; a 90-day savings plan on the gap is unrealized EBITDA.
What's driving it
Signet synergy 40% · 45% integrated
0 in-flight brand(s) with DSO above as-acquired
FYI
Status: Early
EBITDA 8→9%
Open integration →
3
Staples credit exposureAct now
Why it matters
Move to credit hold pending paydown; reforecast ARR net of likely churn.
What's driving it
Overdue AR
Signal: Alert
FYI
Distress filings + overdue AR; churn risk High on $6.4M account.
Act →▤ open the overdue book
4
Blocker: Quoting / CPQ — Integrated Security & Comms (ISC)Act now
Why it matters
Gates the cohort cutover (and the exit).
What's driving it
due 2026-09-15 · Mitigating
Signal: Integration blocker
FYI
Legacy estimator has no API; quote history export blocked on vendor — stalls CPQ cutover.
Owner: Todd Jackson
Act →

💎 Value creation → exitStep 6 of 7 · synergy & uplift by acquisition◀ Cash 360 Exit Readiness ▶All journeys

🌐 Enterprise 360 modules· on Brand / M&A 360Browse all 31 views ▾

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↗ Where this connects — act / drill across

🧩Integration 360· cut over the in-flight brands 🤝M&A Deal 360· are the deals returning?🗂Org Roll-up 360· the brand's offices & P&L 💎Value Creation Plan· synergy in the thesis

● LiveBuilt forCOO · Integration PMO· what to cut over nextCFO· unbanked synergy & DSO dragBoard / Wind Point· is the roll-up thesis working

Pavion is built by acquisition. This view shows, for each business bought, what we paid for vs what it earns now — and flags the ones still mid-integration where ~+$21M of profit, faster cash and lower churn are still on the table.

Data backing: brand_cohort (as-acquired vs current EBITDA, DSO, ARR, integration %, synergy realized)

Acquired revenue

$317M

7 tracked deals

Recurring (ARR)

$127M

from the cohorts

EBITDA uplift

+$24M

since purchase

Avg synergy

74%

of plan banked

Integrated

3/7

fully absorbed

Still in flight

$165M

4 businesses

The thesis, in one line

+$24M of profit captured, 74% of the plan banked

Finishing the 4 in-flight businesses (RFI Enterprises, ISC, ECD Systems, Signet) closes the gap to 100% — the single highest-return work in the company.

Deal by deal

As-acquired → today

Each card: what changed since purchase, how far integration has gone, and the next move.

Firecom

acquired 2021 · $34M revenue · $12M ARR

Integrated

EBITDA %

9→14

DSO

71→58d

Synergy

92%

Integration100%

Next: Integrated. Harvest it — push cross-brand cross-sell into its customer base and protect the margin gains.

DavEd Fire Systems

acquired 2021 · $22M revenue · $8M ARR

Integrated

EBITDA %

8→13

DSO

66→54d

Synergy

90%

Integration100%

Next: Integrated. Harvest it — push cross-brand cross-sell into its customer base and protect the margin gains.

AFA Protective Systems

acquired 2022 · $96M revenue · $52M ARR

Integrated

EBITDA %

11→16

DSO

68→56d

Synergy

88%

Integration95%

Next: Integrated. Harvest it — push cross-brand cross-sell into its customer base and protect the margin gains.

RFI Enterprises

acquired 2023 · $58M revenue · $19M ARR

In progress

EBITDA %

10→13

DSO

70→61d

Synergy

74%

Integration82%

Next: Recover synergy — 74% of plan banked. Put a 90-day savings plan on the gap; this is unrealized EBITDA.

Integrated Security & Comms (ISC)

acquired 2024 · $41M revenue · $14M ARR

In progress

EBITDA %

9→11

DSO

73→67d

Synergy

55%

Integration60%

Next: Recover synergy — 55% of plan banked. Put a 90-day savings plan on the gap; this is unrealized EBITDA.

ECD Systems

acquired 2024 · $37M revenue · $13M ARR

In progress

EBITDA %

9→12

DSO

71→60d

Synergy

78%

Integration80%

Next: Recover synergy — 78% of plan banked. Put a 90-day savings plan on the gap; this is unrealized EBITDA.

Signet

acquired 2024 · $29M revenue · $9M ARR

Early

EBITDA %

8→9

DSO

69→66d

Synergy

40%

Integration45%

Next: Sequence first — only 45% integrated. Accelerate the back-office/sales cutover to stop synergy leaking.

Rack & stack

Which acquisition is performing best?

Each cohort ranked within the set on five KPIs (direction per metric), then a composite Overall Rank from summed rank points — the dashboard's RANKX leaderboard. Top & bottom highlighted.

Overall	Unit	Revenue↑ better	EBITDA %↑ better	ARR↑ better	Synergy %↑ better	DSO gain↑ better	Rank pts
1	AFA Protective Systems	$96M#1	16%#1	$52M#1	88%#3	12d#2	8
2	Firecom	$34M#5	14%#2	$12M#5	92%#1	13d#1	14
3	RFI Enterprises	$58M#2	13%#3	$19M#2	74%#5	9d#5	17
4	DavEd Fire Systems	$22M#7	13%#3	$8M#7	90%#2	12d#2	21
4	ECD Systems	$37M#4	12%#5	$13M#4	78%#4	11d#4	21
6	ISC	$41M#3	11%#6	$14M#3	55%#6	6d#6	24
7	Signet	$29M#6	9%#7	$9M#6	40%#7	3d#7	33

Higher EBITDA %, revenue, ARR and synergy rank better; DSO gain = days of receivables improvement since acquisition (more = better). Composite rank points are the sum of the five per-KPI ranks (lower = better).

The full cohort

Every acquisition, one row

As-acquired → current across EBITDA, DSO, integration and synergy.

Brand	Yr	Revenue	ARR	EBITDA %	DSO	Integrated	Synergy	Status
Firecom	2021	$34M	$12M	9→14	71→58d	100%	92%	Integrated
DavEd Fire Systems	2021	$22M	$8M	8→13	66→54d	100%	90%	Integrated
AFA Protective Systems	2022	$96M	$52M	11→16	68→56d	95%	88%	Integrated
RFI Enterprises	2023	$58M	$19M	10→13	70→61d	82%	74%	In progress
Integrated Security & Comms (ISC)	2024	$41M	$14M	9→11	73→67d	60%	55%	In progress
ECD Systems	2024	$37M	$13M	9→12	71→60d	80%	78%	In progress
Signet	2024	$29M	$9M	8→9	69→66d	45%	40%	Early