Tag: The Blackstone Group
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...
This Blog's on Fire (And Other Stuff)
Vivint Solar seeks to raise $200m through IPO
September 3, 2014Tess Nacelewicz
The fact that Vivint Solar officially filed with U.S. regulators last week for an initial public offering of common stock is an indication that solar continues to be a hot option for security companies.
Vivint Solar's parent company is Provo, Utah-based home automation/home security company Vivint, which was bought by The Blackstone Group in 2012 for more than $2 billion.
Now, Reuters reported Aug. 26, Vivint Solar has filed for an IPO and set its fundraising target at about $200 million....
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...
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...
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...
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...
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...