“Jim Covert brings invaluable experience and expertise to Honeywell Security Monitoring,” said Collin Roche, a Senior Principal at GTCR. “He’s clearly the leading executive in the industry as indicated by his outstanding track record in building highly successful companies. GTCR’s strategy is to develop long-term partnerships with leading managers, and we’re very pleased to partner with Jim again.”
Covert previously partnered with GTCR to found Cambridge Protection Industries in 2000. Through aggressive acquisitions, Cambridge quickly became the second largest electronic security group in the U.S., with operations in more than 40 states. In 2001 GTCR sold Cambridge to ADT Security Services, Inc., for approximately $1 billion in cash.
Early in his career, Covert spent 10 years in the U.S. Secret Service at the White House in the Nixon, Ford, and Carter Administrations. In 1987 Covert founded SecurityLink Midwest Corp, which he built into one of the nation’s largest alarm monitoring companies. Covert sold the company to Ameritech in 1994 and he remained CEO of Ameritech’s Security Link subsidiary until 1996. When Covert exited the company, it was the fastest growing business unit of Ameritech.
Later in 1996, Covert founded Signature Security Group in Australia, which through acquisitions and internal growth became one of the largest electronic security companies in the region. Signature today is the largest installer of monitored electronic security systems in the Australia market with more than 100,000 customers.
Covert left Signature and founded Cambridge Protection Industries in partnership with GTCR in 2000. He is returning to the security industry after the expiration of a non-compete agreement following the sale of Cambridge in 2001.
