Tag: Security Networks
Envision Security gets $3m in financing
September 3, 2014Tess Nacelewicz
PEORIA, Ariz.—A new $3 million private equity loan will allow Envision Security, a small door-knocking company based here, to keep many of its accounts in house so it can build RMR and grow.“It's exciting,” Envision founder and CEO Darryl Johnson told Security Systems News. “You always see write-ups on the big companies that were able to raise capital, but you don't see many about the little ones that were able to do it.”The mezzanine loan came from San Diego-based Huntington...
SAFE Security shifts
July 23, 2014Martha Entwistle
SAN RAMON, Calif.—Establishing branch offices, bundling services with telecoms/cablecos, and expanded DIY offerings are three initiatives SAFE Security has in its playbook, and it has hired Gary Franklyn, formerly with Security Networks, to spearhead those efforts.“It's a shift in emphasis and a deepening of some commitments we've already made, [for example to] DIY,” Paul Sargenti, SAFE president and CEO told Security Systems News. “We want to innovate, to be out in front...
ADT offers up to $25K to expose security sales scams
May 28, 2014Tess Nacelewicz
BOCA RATON, Fla.—ADT is offering as much as $25,000 to anyone willing to blow the whistle on security companies that train their door-to-door sales teams to use deceptive sales techniques, the home security giant announced this week.David Bleisch, ADT general counsel, said ADT believes some sales reps working for unethical door-knocking companies want to speak out anyway, so this offer is designed to encourage them to do that. “We want to also provide additional incentive and recognition...
Monitronics to relocate
March 26, 2014Leif Kothe
DALLAS—Monitronics International, a third-party central station based here, will relocate to a new three-story, 165,000-square-foot corporate campus in the middle of 2015, Bruce Mungiguerra, vice president of operations at Monitronics, told Security Systems News.The new campus is located in Farmers Branch, Texas, a city north of Dallas, in the Mercer Business Park, a 225-acre development, according to a report from the Dallas Business Journal. The business park is owned by the Billingsley Company,...
Finance virtual roundtable: The most interesting deals of 2013 and predictions for 2014
December 30, 2013Martha Entwistle
Every January, Security Systems News asks security finance experts to share their opinions on deals done, valuations sought and won, and prospects for buyers and sellers in the coming year. This year, the following experts participated in a virtual roundtable discussion: Jennifer Holloway, managing director, Security Industry Group, at The PrivateBank and Trust Company, a Chicago-based commercial bank and wealth management institution with a national specialty lending group dedicated solely to the...
Ascent Capital reaps windfall of Security Networks acquisition
November 26, 2013Leif Kothe
Buoyed by the $487 million acquisition of Security Networks, Ascent Capital, the holding company that owns Monitronics, posted some sterling numbers for the third quarter of 2013—numbers that underscore why investment firms continue to find the RMR model attractive (long-term contracts, high margins, cash flow predictability). The list goes on.
Ascent's net revenue for the three and nine months (ended Sept. 30, 2013) increased 36.8 percent and 27.4 percent, respectively. The growth was fueled...
ADT sues Vision—again—over alleged deceptive sales practices
November 18, 2013Tess Nacelewicz
BOCA RATON, Fla.—Just months after settling one lawsuit with Utah-based Vision Security over what The ADT Corp. characterized as Vision's deceptive sales pitches, ADT announced today that it has filed a second lawsuit accusing Vision of similar practices.That latest filing seeks to prohibit sales representatives of Vision, a door-knocking company based in Orem, Utah, from using deceptive sales techniques, and to obtain further damages and attorney fees.The new lawsuit comes shortly after Vision...
Former Security Networks CEO Rich Perry mulls next move
August 21, 2013Martha Entwistle
WEST PALM BEACH, Fla.—With the Aug. 16 close of the Monitronics-Security Networks deal behind him, former Security Networks CEO Rich Perry is taking some time off, but he's spending some of that time thinking about his next venture in the security industry.“There are a couple of key areas that I want to look at—one is doing another acquisition in partnership with private equity [possibly] with Oak Hill Capital,” he told Security Systems News.Security Networks was acquired...
This Blog's on Fire (And Other Stuff)
More on activist investor Ackman and ADT
July 17, 2013Tess Nacelewicz
There was additional speculation this week about whether activist hedge-fund manager William Ackman is intending to take a stake in The ADT Corp. An article in The New York Times said that his investing in the home security/home automation giant is more likely than his buying into FedEx, another company he is rumored to be considering.
The article said that's basically because Ackman would have less say in FedEx, a much larger company than ADT, where he could wield greater influence.
There's...
Monitronics to acquire Security Networks
July 10, 2013Martha Entwistle
ENGLEWOOD, Colo.—Monitronics will have more than 600 dealers and 1 million accounts when it completes the $487 million acquisition, announced today, of super-regional security company Security Networks, the 14th largest residential alarm monitoring company in the United States.
The deal, which is expected to close Aug. 16, includes $487.5 million of cash, and 253,333 newly issued shares of Ascent Series A common stock with an agreed value of $20 million, according to the statement. The purchase...