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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.”

GTCR sells Six3 Systems

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10/10/2013

CHICAGO—In an $820 million deal, private equity firm GTRC has sold Six3 Systems to CACI International, the companies announced Oct. 9.

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.

SSN’s top 10 stories of 2010

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12/22/2010

YARMOUTH, Maine—As 2010 draws to a close the editors at Security Systems News take a look back and see what the most read stories of the year were. What was making the news? What were you most interested in knowing?
Below is a non-sequential, categorized rundown of the top 10 most read stories on our site from Jan. 1 to Dec. 11, followed by a linked top 10 list.

The numbers on the Protection One deal

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06/17/2010

LAWRENCE, Kan., and CHICAGO—Equity firm GTCR announced today the acquisition of Protection One, the second-largest security alarm company in North America, now that ADT and Broadview have combined. Our lead story has the ins and outs of the whys and whos, including interviews with ProOne CEO Richard Ginsburg, Michael Barnes, John Mack, and principal of GTCR David A. Donnini.

GTCR to buy Pro One: Covert and Whall back in business

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04/26/2010

LAWRENCE, Kan., and CHICAGO—Jim Covert and Tim Whall will be back in the security business following the close of a $828 million deal, announced today, where private equity group GTCR acquires Protection One.