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Mike Haislip

Monitronics to acquire Security Networks

After $487m cash deal, Monitronics will have 600 dealers, 1 million customers
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07/10/2013

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.

Ascent Capital reaps windfall of Security Networks acquisition

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Tuesday, November 26, 2013

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 by an increase in subscriber accounts and “the related increase in monthly recurring revenue,” according to an Ascent news release.

Security Networks was no small acquisition; when it was purchased in July it was the fourteenth largest residential alarm monitoring company in the United States. In addition to bringing in 225 dealers, the move brought another 195,000 accounts into the fold.

Ascent also reported that Monitronics’ adjusted EBITDA for the three and nine months intervals increased 35.2 percent and 27.1 percent, respectively. They also saw a modest increase in RMR per subscriber (6.3 percent).

The news release would suggest this isn’t the last we’ve heard from Ascent Capital on the acquisition front in the alarm space. Ascent chairman and CEO Bill Fitzgerald stated, “Looking ahead, we remain committed to identifying accretive acquisition opportunities, making certain that we continue to put shareholder capital to work in an effective and productive manner.”

Mike Haislip, president and CEO of Monitronics, noted that the near-term goals include further integrating the Security Networks business, and positioning the combined company for future growth.

Pinnacle sells 93,000 accounts to Monitronics

Pinnacle says the $131 million transaction reduces debt, putting it in a better growth position
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10/31/2012

OREM, Utah—Pinnacle Security, a leading summer-sales-model company based here, recently announced an alliance with Monitronics International in which Pinnacle has sold Monitronics about 93,000 accounts and made an agreement for future account sales. The accounts represent $4.4 million of gross RMR, according to a news release.

Looking at the Monitronics acquisition

What does Ascent’s $1.2b investment in security mean?
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12/22/2010

YARMOUTH, Maine—Santa Monica, Calif.-based Ascent Media Corporation announced Dec. 17 it had bought Monitronics International, one of the largest third party monitoring companies in the U.S. with more than 650,000 accounts, in a deal worth $1.2 billion.
While many of the finer details of the deal are as yet unrevealed, industry observers have come forward to discuss the information made publicly available in a Dec. 20 Ascent investor call.

Ascent Media buys Monitronics for $1.2b

Haislip talks to SSN about new owner
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12/17/2010

SANTA MONICA, Calif.—Ascent Media Corporation, a holding company based here, announced on Dec. 17 that it had agreed to purchase Monitronics International in a deal valued at $1.2 billion. 

Prior to an Ascent investor call on Monday, Dec. 20, Monitronics president and CEO Mike Haislip told Security Systems News in an exclusive interview why he felt the acquisition was a sign of good things to come.

“We’re really excited about this because it brings a lot of stability having someone like Ascent behind us. It’s their first foray into security, but we think it’s a very good fit.”