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Tag: The Blackstone Group


On The Editor's Desk

Vivint owners mull sale of security guard company

March 11, 2015Martha Entwistle

The Blackstone Group, which bought home security giant Vivint for $2 billion in 2012 is reportedly exploring the sale of security guard company AlliedBarton, according to a report this week from Reuters. The report said the deal should be valued at about “$1.5 billion, including debt.” Blackstone has hired investment bank Credit Suisse Group AG to explore the sale, the report said. The report quoted an AlliedBarton spokeswoman saying that it's “the right time for a new private equity...

AlliedBarton, sale, The Blackstone Group, Vivint


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This Blog's on Fire (And Other Stuff)

Protection 1 on the block?

August 5, 2014Tess Nacelewicz

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...

GTCR, Morgan Stanley, Protection 1, The Blackstone Group, Vivint


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Also Noted

Vivint co-founder, former president now CEO of social media company

May 22, 2014SSN Staff

SALT LAKE CITY—NUVI, a social analytics management and engagement company based here, has named Vivint co-founder and former president Keith Nellesen as CEO, according to a May 20 news release. NUVI's former CEO David Oldham will become a member of the board. "NUVI has come so far in the past few years. I have been fortunate to have a hand in helping this company grow to what it is today as an investor and board member," Nellesen said in a prepared statement. Nellesen specializes in growing...

David Oldham, Keith Nellesen, NUVI, The Blackstone Group, Vivint


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Residential

Vivint grows its infrastructure along with its business

September 4, 2013Tess Nacelewicz

PROVO, Utah—Vivint expanded this summer into a new 100,000-square-foot building on its campus here, which about doubles the space it occupies in Provo. The expansion is just one example of how the home automation/home security provider is growing its physical presence as well as its business since being bought by The Blackstone Group last year for more than $2 billion.Vivint also added thousands of square feet of building space elsewhere in the state.Last December it added a 150,000-square...

The Blackstone Group, Vivint


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Residential

Blackstone closes on Vivint purchase

December 19, 2012Tess Nacelewicz

PROVO, Utah—The deal is done: The Blackstone Group has officially closed on its purchase of home automation/home security giant Vivint for more than $2 billion.The sale gives Vivint, based here, “more flexibility” to do such things as increase its focus on inside sales, company CEO Todd Pedersen told Security Systems News. He expects inside sales to exceed 60,000 customers per year. That's in addition to the accounts generated by the door-knocking company in its annual summer sales...

2GIG, The Blackstone Group, Todd Pedersen, Vivint


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Residential

Vivint: Canada fast-growing home automation market

December 12, 2012Tess Nacelewicz

PROVO, Utah—Vivint, a home automation/home security company based here, is finding Canadian homeowners very receptive to home automation, adopting it at rates that exceed those in the United States.Vivint said its home automation adoption rate in Canada climbed from 57.6 percent in 2011 to 68 percent in 2012. By contrast, Vivint's adoption rate for home automation in the United States grew from 51.9 percent to 53.2 percent, said Megan Herrick, public relations director for Vivint, which recently...

Brock Walburger, The Blackstone Group, Vivint


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