Tag: Goldman Sachs
Carrier to sell industrial fire business to Sentinel Capital Partners for $1.425 billion
March 5, 2024SSN Staff
PALM BEACH GARDENS, Fla.—Carrier Global Corp. announced it has entered into a definitive agreement to sell its industrial fire business, which includes brands Det-Tronics, Marioff, Autronica and Fireye, to Sentinel Capital Partners for an enterprise value of $1.425 billion.
Today's announcement represents the latest step in Carrier's ongoing portfolio transformation following the recently announced agreements to sell Carrier's global access...
ADT participating in 2023 Communacopia
September 1, 2023SSN Staff
BOCA RATON, Fla. – Security company ADT has announced they will be participating in the Goldman Sachs 2023 Communacopia + Technology Conference.
In a late August release, the company wrote that Jim DeVries, ADT President and Chief Executive Officer, will participate in the Goldman Sachs 2023 Communacopia + Technology Conference on Thursday, Sept. 7, 2023, in San Francisco. DeVries will participate in a fireside chat, which will begin at approximately 2:25 p.m. PT.
Goldman Sachs describes...
Goldman Sachs invests in Fluent Home's expansion effort
October 7, 2015Amy Canfield
EDMONTON, Alberta—Armed with $40 million in growth financing from Goldman Sachs Specialty Lending Group, Fluent Home, based here, is looking to “keep and better service” its accounts and increase its U.S. business.“We've always had a presence in the United States,” primarily in Utah, Gary Arnold, Fluent's director of marketing, told Security Systems News. But the summer-sales company has recently acquired new sales teams stateside, and it is “aggressively”...
Acquisition pushes NorthStar to more than $2m in RMR
January 21, 2015Amy Canfield
OREM, Utah—NorthStar Alarm has acquired the 8,000 accounts and physical assets of residential alarm security company Vision Security, both based here. It also has acquired an interest in Vision's solar business, which will be run as a separate entity.The purchase will expand NorthStar's security customer base into Maryland, Virginia, Pennsylvania and Minnesota. NorthStar will now service more than 43,000 customers in 24 states, for a total RMR of more than $2 million, according to NorthStar...
Goldman Sachs names Eagle Eye Networks founder one of '100 Most Intriguing Entrepreneurs of 2014'
October 20, 2014SSN Staff
AUSTIN, Texas—Goldman Sachs recognized Eagle Eye Networks founder and CEO Dean Drako as one of its “100 Most Intriguing Entrepreneurs of 2014” at its Builders and Innovators Summit in Santa Barbara, Calif.
In 2012, Drako founded Eagle Eye Networks, based here, as the first cloud-based video surveillance company to provide both cloud and on-premise recording.
Drako previously was founder, president and CEO of Barracuda Networks, where he created the industry's first email...
Northstar Alarm donates home security system to family in need
July 2, 2013Tess Nacelewicz
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. The company in June installed the system in a Habitat for Humanity home newly constructed for the Artanduaga family.
The family has three children, two with autism. The youngest child needs constant care, according to the news release.
“We appreciate Northstar's kind donation of a security system in the new Habitat home in...
Goldman, Beekman see value in NorthStar
May 22, 2013Tess Nacelewicz
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.New York-based private equity firm Beekman led the recapitalization of NorthStar, based here, and is new to the security space. “This is the first investment they've made in the alarm industry but they have looked at...
This Blog's on Fire (And Other Stuff)
NorthStar Alarm partners with Goldman Sachs; gets up to $40m cash infusion
May 15, 2013Tess Nacelewicz
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...
Vivint exploring sale
September 6, 2012Martha Entwistle
PROVO, Utah—Vivint is considering a sale with final bids due later this month, according to a Reuters report. The report said the home automation/home security company could be valued at as much as $2 billion, and that among three private equity groups looking at the company is GTCR—owner of Protection 1, one of the nation's largest security companies.
Reuters, citing unnamed sources, reported that other possible buyout firms are the Blackstone Group LP and Ares Management LLC.
Contacted...
Security Networks ups credit facility by $100 million
May 2, 2012Martha Entwistle
WEST PALM BEACH, Fla.—Security Networks, a super-regional based here, announced April 30 that it has extended its credit facility by $100 million, bringing the total to $250 million.“It allows us to stay ahead of the curve in terms of our capital structure, to execute our business plan,” Rich Perry Security Networks CEO told Security Systems News.The company is “40 percent over planned production” so far in 2012 and has had about 38 percent CAGR for the past five years....