Tag: GTCR

BOCA RATON, Fla. – Everon, formerly ADT Commercial, has announced its executive leadership team following the recent completion of its acquisition by GTCR. Everon began the process of divestiture and rebranding earlier this year in August. ADT sold the division to the GTCR private equity firm for approximately $1.5 billion. Now the organization has revealed the organization of its executive leadership team — led by Dan Bresingham as chief executive officer. Bresingham is a veteran...

BOCA RATON, Fla. – ADT has announced that it will release its third fiscal quarter 2023 financial results before the market opens on Thursday, Nov. 2, 2023. Following the release, management has stated it will host its conference call at 10 a.m. ET to discuss the financial results and lead a question-and-answer session. Pertinent topics for the call will likely include the company's recent sale of ADT Commercial to private equity firm GTCR. ADT Commercial rebranded as Everon...

BOCA RATON, Fla. – ADT has completed what it began in early August of this year, with the divestiture of its commercial division and ADT Commercial rebranding to Everon as part of its acquisition by private equity firm GTCR. The commercial security, fire and life safety provider and integrator announced today that it will move forward as a standalone organization and rebranded as Everon. The proceeds of the sale nets ADT approximately $1.5 billion, which significantly reduces...

BOCA RATON, Fla.—On the heels of reporting its Q2 financial results, ADT made a huge announcement this morning, entering into a definitive agreement to sell its commercial security, fire and life safety business unit to private equity firm GTCR for a purchase price of $1.6 billion. Proceeds from the sale, which is expected to close in the fourth quarter of 2023, will be used to reduce debt by $1.5 billion, with cash interest savings expected to offset the impact of divesting the commercial...

SAN DIEGO—Chicago-based PE firm GTCR recently announced that it has signed a definitive agreement to sell GreatCall to Best Buy for cash consideration of $800 million.GreatCall provides connected health and personal emergency response services devices to more than 900,000 subscribers across the United States. The company will maintain its headquarters here, as well as its Care Centers in Carlsbad, Calif., and Reno, Nev.“It was a truly strategic deal for both the company and the buyer—both...

CHICAGO—GTCR, a private equity firm based here, today announced that it has entered a definitive agreement to acquire GreatCall Inc, a large provider of PERS and cellular devices to seniors. GTCR has some roots in the security space: GTCR bought Protection 1 in 2010 for $828 million, then sold the company to Apollo Management Group in 2015. GreatCall has more than 800,000 subscribers across its cellular phone and PERS device business. The company operates its main monitoring center in Carlsbad,...

NEW YORK—Apollo Global Management, a $163 billion private equity group, is in talks to acquire Protection 1 and ASG, with the goal of combining the two companies, a source close to the deal told Security Systems News.Nothing has been finalized in the deal, the source said. Final bids for ASG were due May 11. “Two viable parties, one of which is Apollo,” are bidding on ASG, the source said.“Apollo Global Management is one of the top three largest private equity funds today...

YARMOUTH, Maine—Home security giant Protection 1 is up for sale for more than $1.5 billion, Reuters reported this week. Likely buyers could range from a top private equity firm to a telecom or cableco, an industry analyst told Security Systems News.GTCR, the private equity firm that bought Protection 1 in 2010 for $828 million, has asked Morgan Stanley to help in the sales effort, the news service reported Aug. 4.Romeoville, Ill.-based Protection 1 did not respond to SSN's request for comment...

Home security giant Protection 1 is up for sale for more than $1.5 billion, according to a Reuters news report this week. GTCR, the private equity firm that bought Protection 1 in 2010 for $828 million has asked Morgan Stanley to help in the sales effort, the news service reported Aug. 4. I've reached out to Romeoville, Illinois-based Protection 1 for comment on the report, which Reuters ascribed to unidentified sources. Protection 1 is one of the largest full-service business and home security companies...

TULSA, Okla.—Super-regional security company Central Security Group today named Richard Ginsburg as CEO. Ginsburg, who as CEO of Protection 1 grew it into one of the top three security companies in the country from 2001 to 2010, said he wants to grow CSG into a “significantly larger company.”“The goal is absolutely to turn CSG into a national company,” Ginsburg told Security Systems News.Ginsburg replaces Mark Wilson, founder of CSG, who is retiring.Founded in 1999,...