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Protection 1

Possible Protection 1 buyers: PE firm, telecom or cableco

Pro 1 is reportedly up for sale with a $1.5b price tag, and an analyst tells SSN having an 'asset of this quality' on the market is unusual
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08/06/2014

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.

Protection 1 on the block?

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Tuesday, August 5, 2014

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 in the United States. As of the end of 2013, it had 1.5 million customers and $28 million in RMR, an increase of nearly 8 percent over the previous year, according to published reports. Revenues exceeded $429 million.

By contrast, home automation/home security company Vivint—which was acquired by The Blackstone Group in 2012 for more than $2 billion—ended 2013 with more than $42 million in RMR, an increase of 23 percent over the previous year. Provo, Utah-based Vivint, which has more than 800,000 customers, had in excess of $500 million in revenues in 2013, according to published information.

Stay posted. I'll be updating this story as I get more information.

 

Richard Ginsburg named CEO of Central Security Group

Former Protection 1 CEO will take CSG national
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07/08/2014

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.”

AT&T to buy DIRECTV for $48.5b

Analysts: Deal could result in potential monitoring synergies, bundling opportunities
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05/19/2014

DALLAS, Texas and EL SEGUNDO, Calif.—AT&T plans to buy DIRECTV for $48.5 billion, the companies announced this week. The deal will allow AT&T to expand its broadband network to more than 70 million customer locations, the companies said.

Verified alarm? Definitions vary

Does ECV or cross-zoning qualify as a verified alarm? CSAA, PPVAR work toward new comprehensive verification standard
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03/05/2014

HENDERSON, Nev. and VIENNA, Va.—It’s likely that a new comprehensive verification standard will surface sometime in 2014. The Central Station Alarm Association is in the process of developing such a standard for all manner of verified alarms, and the Partnership for Priority Video Alarm Response, since its inception, has been gathering best practices toward that end.

Video verification a priority for new CSAA president Hauhn

Jay Hauhn wants PPVAR to be a CSAA standing committee; ASAP program also a priority
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10/30/2013

VIENNA, Va.—Establishing the Partnership for Priority Video Alarm Response as a standing committee within the Central Station Alarm Association will be a top priority for recently elected CSAA President Jay Hauhn.

Pinnacle Security sued in lawsuit stemming from fatal fire

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10/09/2013

ARLINGTON HEIGHTS, Ill.—An insurance company is suing Pinnacle Security in an attempt to recover its costs in a 2011 lawsuit brought against Pinnacle and a monitoring company by the children of a firefighter who died in a house fire.

DIRECTV gets into security, acquires LifeShield

LifeShield, formerly InGrid, is a self-installed digital wireless system with monitoring by Protection 1
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06/05/2013

EL SEGUNDO, Calif.—Satellite TV provider DIRECTV is getting into home security with the purchase of LifeShield. Formerly known as InGrid, LifeShield is a self-installed, professionally monitored, wireless digital security system.

SAFE Security expands into DIY, with help from Honeywell

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Wednesday, February 13, 2013

Wow! SAFE Security is really making news lately. First, it was acquired late last year by ICV Partners, a New York-based investment firm focused on lower middle-market companies.

Then, it announced earlier this month that it had just bought about 24,000 alarm monitoring accounts from Orem, Utah-based Pinnacle Security—a summer-model company the select assets of which Protection 1 recently purchased.

Now, SAFE announced today that it’s entering the DIY home security market by launching a new division, SAFE@home, that “allows homeowners to self install a Honeywell wireless security system with professional monitoring.”

Here’s more from a news release from the San Ramon, Calif.-based company, which has operations in 44 states:
 

SAFE Security, one of the nation’s largest security alarm companies has launched a new division, SAFE@home. This new division will enable a consumer to self install a wireless security system at their home with ease. This DIY home alarm system will include professional UL certified Five Diamond monitoring by SAFE Security and will not require a phone line. The home security system can be controlled remotely by a smartphone or tablet via Honeywell’s Total Connect. The system is available across the continental US.

“With an increased demand in the residential security market for a self installed alarm system coupled with increased technology that allows for a wireless security system to be setup in minutes, SAFE@home is well positioned to be a leader in the DIY security space,” said Paul Sargenti, SAFE’s President and CEO. “We’ve partnered with Honeywell to provide a state of the art wireless security system and will accommodate Wi-Fi for IP alarm communications. This will allow our customers to take advantage of being able to self-install their wireless security system. By enabling our customers to self install, they will save money by not requiring an alarm company to install the alarm system.”

Customers can select from 3 complete packages and add on additional hardware to best fit their needs.

I’ve reached out to Sargenti to learn more about all these developments. Look for more about SAFE Security on our site in the near future.

 

SAFE Security acquires 24,000 accounts from Pinnacle

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02/06/2013

SAN RAMON, Calif.—SAFE Security announced this week that it has acquired about 24,000 alarm monitoring accounts from Orem, Utah-based Pinnacle Security. The accounts represent $1.1 million of RMR, according to SAFE, which is based here.

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