ADT Sells Integration Business For $US1.5 Billion.
ADT sells integration business – ADT is selling its commercial security, fire and life safety unit to private equity firm GTCR for $1.6 billion and will use proceeds to reduce debt.
ADT CEO Jim DeVries said the decision, which will close in Q4, would allow the company to focus on its portfolio of growth opportunities in consumer markets.
“The sale enables ADT to monetize the commercial business at an attractive valuation and accelerate our debt reduction goals,” DeVries said.
“With greater financial flexibility, we will be better positioned to grow through our strategic differentiators and innovative offerings, including our partnerships with Google and State Farm.
“We will continue our journey to be the premier provider of safe, smart and sustainable solutions that meet the evolved definition of what safety means to consumers today.”
ADT Sells Integration Business For $US1.5 Billion
ADT Commercial is a security integration business formed through ADT’s 2017 merger with Protection 1, a prior GTCR investment. Based in Irving, Texas, ADT Commercial has a national footprint across the U.S. with a team of more than 5300 across over 100 locations servicing more than 300,000 customer sites.
ADT Commercial is GTCR’s 4th investment in the security and fire industry – the others include Cambridge Protection Industries, the Honeywell Security Monitoring (HSM) and Protection 1. GTCR has now partnered with former Protection 1 executives, Tim Whall and Dan Bresingham, to acquire ADT Commercial.
“We have built a highly skilled team and strong platform at ADTC that is well positioned for long-term success as a standalone organization,” said Bresingham.
“We know that GTCR will be a great partner given our shared experience and their focus on growth while delivering exceptional service. Together, we will continue to invest in expansion, innovation and in the highest quality of customer service.”
You can find out more about ADT here or read more SEN news here.
“ADT Selling For $US1.5 Billion To Private Equity Firm GTCR.”
