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The Blackstone Group

Vivint owners mull sale of security guard company

Wednesday, March 11, 2015

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 sponsor.”

That timing seems right or even a little overdue as PE generally holds a company for three to five years.

According the report, Blackstone has owned AlliedBarton for six years. Blackstone acquired AlliedBarton from Ronald Perelman’s MacAndrews & Forbes Holdings in 2008 for up to $750 million, Rueters said.

Rueters said AlliedBarton has EBITDA of  $150 million.

AlliedBarton, based in Conshohocken, Pa., has more than 55,000 employees and 120 offices.

Protection 1 on the block?

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.


Vivint co-founder, former president now CEO of social media company


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.

Vivint grows its infrastructure along with its business

The home automation/home security company now has 7,000 employees, and has doubled size of its headquarters, and opened two other Utah facilities and one in Washington state

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.

Blackstone closes on Vivint purchase

Deal will allow Vivint to ramp up inside sales; company also is seeking new CFO

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.

Vivint: Canada fast-growing home automation market

Reasons include sales strategy and customer interest

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.