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NorthStar Alarm Services

NorthStar’s updated website emphasizes home automation

 - 
06/05/2014

OREM, Utah—NorthStar Alarm Services, a summer sales company based here, announced this week that the company has a new look to highlight its home automation and security solutions.

NorthStar surpasses $1m RMR milestone

The summer sales company plans to quintuple RMR in five years, offer sales staff equity in accounts
 - 
12/11/2013

OREM, Utah—Summer sales company NorthStar Alarm Services says 2013 was the best season in the company’s 13-year history, helping to propel the company’s RMR to more than $1 million.

Northstar Alarm donates home security system to family in need

 - 
07/02/2013

PROVO, Utah—NorthStar Alarm Services recently donated a home security system to a local family that has two children with disabilities, according to a news release.

Goldman, Beekman see value in NorthStar

The Utah summer-model company says those two new equity partners will enable it to grow faster
 - 
05/22/2013

OREM, Utah—The fact that Goldman Sachs and The Beekman Group are NorthStar Alarm Services’ new equity partners is a “vote of confidence” in that summer sales company, according to Henry Edmonds, president of The Edmonds Group, which facilitated the transaction.

NorthStar Alarm partners with Goldman Sachs; gets up to $40m cash infusion

 - 
Wednesday, May 15, 2013

NorthStar Alarm Services is recapitalizing with a group of new investors including Goldman Sachs and The Beekman Group, and also has expanded its credit facility to $40 million with Bank of America and Zions Bank, the Orem, Utah-based company announced today. The deal, which was six months in the making, is great for NorthStar and is another indication that Goldman likes the security space.

In a communication to employees, company president Jason Christensen said, “We believe that this is an ideal partnership, with Goldman’s previous success and experience in the alarm industry and Beekman’s proven track record of developing a culture of excellence within its management teams. This partnership will also provide NorthStar with even more capital flexibility to support our projected growth as well as additional industry expertise and resources that will enable the company to continue its path of excellence within this industry. … The future of NorthStar is brighter than ever!”

Founded in 2000, NorthStar provides home security/ home automation services in 18 states across the nation. The company said it has grown by more than 30 percent each year over the past six years and its RMR currently exceeds $1 million.

Goldman’s specialty lending group has indicated in the past it likes the security space. Companies it previously has lent to include ASG Security and Vivint—until the Blackstone group acquired Vivint last year for more than $2 billion.

The Beekman Group is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies.

John Troiano, managing partner at Beekman, said in a statement: “This is an impressive company with a talented management team and a well-defined culture built on the core values of integrity, accountability and service.  We are excited to partner with NorthStar during its next phase of growth and development.”

I’m hoping to learn more about what the new partnership means for NorthStar, Goldman and The Beekman Group. Stay posted!