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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.

 

ADT shares upgraded to equal weight

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05/09/2013

BOCA RATON, Fla.—Morgan Stanley this week upgraded shares of The ADT Corp. from an underweight to an equal weight rating in a report sent recently to investors, according to multiple reports. The firm currently has a $47.00 price target on the stock.

Morgan Stanley downgrades ADT rating

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04/05/2013

BOCA RATON, Fla.—A report published this week by Morgan Stanley analyst Nigel Coe downgraded the rating on The ADT Corp. from equal-weight to underweight, citing a lack of “residual upside,” according to an article from Benzinga.com, a market-watch website.