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The Blackstone Group

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.

 

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

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05/22/2014

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
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09/04/2013

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
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12/19/2012

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
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12/12/2012

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.