New cash fuels ApxAlarm's move to full service
By Martha Entwistle
Updated Thu August 10, 2006
PROVO, Utah--ApxAlarm tends to shun publicity, but it's attracted the attention of some major investors who believe that the company's unique business model is a winner.
Earlier this summer, the company sold 50 percent of its business to three private equity firms, Goldman Sachs and Jupiter Partners, both of New York, and Peterson Partners of Salt Lake City. Terms of the deal were not released. At the same time, ApxAlarm secured a $75 million credit facility from Goldman Sachs.
Several months ago, ApxAlarm completed a yearlong transition from a company that generates accounts and then sells them to larger alarm companies, to a full-service alarm company that creates and services its own accounts.
"We're using the capital to expand current operations into new markets and looking at some potential strategic acquisitions and new services," said Alex Dunn, vice president of business development for ApxAlarm. "From a technical standpoint, we feel like we're definitely on the innovative edge with two-way voice systems, and cell back-up services. We're looking at other technologies that will offer even more safety and functionality to our customers."
For more on this story, including comments from a partner at Peterson Partners, see the September issue of Security Systems News.
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