3 Sixty Secure bolsters leadership, buys Total Cannabis Security Solutions
Vancouver-based 3 Sixty Secure, a security services and consulting firm focused on the cannabis sector, recently acquired cannabis risk management and security firm Total Cannabis Security Solutions. TCSS had itself previously acquired cannabis security and licensing consultancy David Hyde & Associates. Neil Weaver, David Hyde, and Jeff Hannah will join the leadership team as chief commercial officer, president, and director of consulting services, respectively.
The promise of cannabis legalization sprung up a rush of companies, including sector-focused risk management firms. Security and risk management consultants from other fields saw the burgeoning sector as a lucrative opportunity and entered the fray, hoping to support manufacturers and retailers in the spheres of security, transportation, regulatory compliance, and licensing. The initial fragmentation of the industry is now seeing some consolidation as bigger players pick up smaller firms, upgrading capabilities and client rosters while snuffing out competition.
Founded in 2013, 3 Sixty Secure Corp. is one of Canada’s largest cannabis security firms, providing security consulting, guarding, and secure transport services to over 500 customers and over 60 licensed producers. 3Sixty has over 250 employees currently. The firm’s parent company 3 Sixty Risk Solutions went public earlier this month on the Canadian Securities Exchange.
"We successfully raised capital in October, and we have delivered on our promise to significantly grow our consulting, guard and transport customer base, which includes many of Canada's leading LPs, and we continue to increase the number of customers served by our consulting service,” commented Thomas Gerstenecker, CEO and founder of 3Sixty. “I look forward to continued execution of our growth agenda by filling what I consider a serious gap in the Canadian and US cannabis security industry as recreational cannabis supply grows and matures in Canada, in the US, and globally."
3Sixty’s growth agenda has included the recent acquisition of Total Cannabis Security Solutions (TCSS), which itself had earlier acquired rival firm David Hyde & Associates (DHA) in August. TCSS was a leading industry provider of physical security, due diligence and security culture, regulatory compliance, supply chain transportation, and corporate security. DHA was a provider of security and compliance advisory in the cannabis sector, having served over 300 regulated producers.
The former leaders of TCSS and DHA – Neil Weaver and David Hyde, respectively – have been brought onto the leadership team of 3Sixty as part of the acquisition. Weaver will serve as chief commercial officer, while Hyde will become president of 3Sixty.
David Hyde is one of the country’s top cannabis security experts, and is a regular commentator on the industry across various media outlets. He founded cannabis security advisory firm DHA in 2013, growing the company to over 20 staff by the time it was acquired by TCSS last year. He has worked on over 450 cannabis applications, including 80+ federally licensed sites (over half of all license holders).
Neil Weaver has nearly 40 years of law enforcement and security experience, with expertise in highly regulated industries. Previously, he was director of corporate and nuclear security at Ontario Power Generation, and served as CEO of TCSS before its acquisition by 3Sixty.
3Sixty has also brought aboard security and risk management expert Jeff Hannah as its director of consulting services. Prior to joining the firm, Hannah was the owner and principal consultant at Jeff Hannah and Associates, a cannabis security consultancy he founded in 2013. Before that, he was director of safety and security services at Conestoga College, and the security manager at Square One Shopping Center – one of the largest malls in Canada.
"We are thrilled to welcome David, Neil and Jeff to the Company as we expand our business during this exciting period of growth for our industry," said Gerstenecker. "We are adding top talent who understand the unique challenges that come with the secure service industry and particularly that of the cannabis sector. These new additions will help support our growth and allow us to continue delivering the highest standard of service in the security sector."
