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Goldman Sachs

Northstar Alarm donates home security system to family in need

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07/02/2013

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.

Goldman, Beekman see value in NorthStar

The Utah summer-model company says those two new equity partners will enable it to grow faster
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05/22/2013

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.

NorthStar Alarm partners with Goldman Sachs; gets up to $40m cash infusion

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Wednesday, May 15, 2013

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 ideal partnership, with Goldman’s previous success and experience in the alarm industry and Beekman’s proven track record of developing a culture of excellence within its management teams. This partnership will also provide NorthStar with even more capital flexibility to support our projected growth as well as additional industry expertise and resources that will enable the company to continue its path of excellence within this industry. … The future of NorthStar is brighter than ever!”

Founded in 2000, NorthStar provides home security/ home automation services in 18 states across the nation. The company said it has grown by more than 30 percent each year over the past six years and its RMR currently exceeds $1 million.

Goldman’s specialty lending group has indicated in the past it likes the security space. Companies it previously has lent to include ASG Security and Vivint—until the Blackstone group acquired Vivint last year for more than $2 billion.

The Beekman Group is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies.

John Troiano, managing partner at Beekman, said in a statement: “This is an impressive company with a talented management team and a well-defined culture built on the core values of integrity, accountability and service.  We are excited to partner with NorthStar during its next phase of growth and development.”

I’m hoping to learn more about what the new partnership means for NorthStar, Goldman and The Beekman Group. Stay posted!

Vivint exploring sale

CEO said $2 billion offer from Blackstone previously turned down
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09/06/2012

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.

Security Networks ups credit facility by $100 million

Super-regional looking at 38 percent CAGR, again
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05/02/2012

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.

Vivint gets $125M increase in financing

The funds will fuel its home automation expansion
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04/07/2011

PROVO, Utah—Vivint, formerly APX Alarm, has completed a $690 million senior debt financing with a group of lenders led by Goldman Sachs Specialty Lending Group. The new credit facility is an increase of $125 million over its previous financing, according to the home automation/security company, which is based here.

Goldman invests in security

Seven-year-old lending group likes the space
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02/17/2011

ATLANTA—Goldman Sachs doesn’t have a security investment group, but three members of its seven-year-old Specialty Lending Group—managing director David Miller, director Greg Watts and VP Chris Semple—specialize in the security space.

ASG closes $230m line of credit

Goldman Sachs is new participant
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02/03/2011

BELTSVILLE, Md.—ASG Security closed Jan 28 on a new $230 million line of credit. Lead by ASG’s longtime banking partner, CapitalSource, this round also includes a new participant, Goldman Sachs.
Also participating in the round are previous investors: Bank of America, Citizens Bank, Madison Capital and PrivateBank.