Subscribe to RSS - Chris Black

Chris Black

Former Vivint CFO on the Alarm.com IPO

 - 
Wednesday, May 27, 2015

Alarm.com's announcement that it will go public has a lot of people talking inside and outside of the security industry. Many of the insiders, however, will not talk on the record, at least not right now.  

I was interested in talking to someone who knows IPOs, understands the security industry and is familiar with Alarm.com, and I came up with Chris Black. Black is the former CFO of Vivint who helped Vivint prepare for the sale to Blackstone. He's also helped other companies go public. Today he works outside of the industry as CFO of Viamedia and as a board member of Sports Information Group which owns the Daily Racing Form.  

In an email interview Black called Alarm.com "a terrific company with a strong management team that I gained a lot of respect for during my interactions with them while I was at Vivint."

He said an IPO can "have a transformational impact on the business" and a positive affect on the industry.

"The IPO will provide them with access to another source of capital to continue to grow the business and invest in new products and opportunities. I also think it is a great event for the security industry as a whole. It serves as further validation of the space and will bring in new equity investors that may or may not have looked at security companies in the past,"

The only potential downside, Black said "is the amount of time the management team, particularly the CEO and CFO, are required to spend on investor relations activities including calls with equity analysts, investors and presentations at equity conferences and the like."

How might the IPO affect customers?

"This is really just another form of financing the growth of the business and shouldn't have an immediate impact on Alarm.com's customers one way or the other. Longer term, one could assume that access to public equity will allow the company to invest in the business and continue to develop new products and enhance existing ones either organically or through acquisitions, or both," he said.

Former Vivint CFO joins Viamedia

 - 
01/07/2013

LEXINGTON, Ky.—Chris Black, who recently departed as chief financial officer at Vivint, has been named to the same position at Viamedia, which is based here and specializes in selling advertising to local, regional and national advertisers on behalf of U.S.

Vivint adds $50 million to financing; surpasses RMR milestone

 - 
08/06/2012

PROVO, Utah—Summer-model company Vivint announced in June of that it had surpassed a $30 million milestone in RMR, putting it among the top three largest security companies in the nation. Also, the residential security and home automation provider said it had added another $50 million to its financing, bringing its total senior debt financing to $812 million.

Vivint gets millions more in financing, surpasses RMR milestone

 - 
Wednesday, June 20, 2012

Ever since rebranding last year, Vivint has seemed to do nothing but grow. The latest sign of that is the announcement yesterday from the residential security and home automation provider that it has surpassed a $30 million milestone in RMR, putting it among the top three largest security companies in the nation.

Also, the Provo, Utah-based summer-model company said, it has added another $50 million to its financing, bringing its total senior debt financing to $812 million.

That refinancing comes on the heels of a $72 million financing boost the company announced just over three months ago. It then had $762 million in total financing.

I’ve reached out to Vivint officials to learn more about these developments. In the meantime, here’s what they had to say in a news release:
 

“Surpassing the $30 Million RMR benchmark is quite an accomplishment and is a testament to our loyal customers and employees,” said Alex Dunn, Vivint’s chief operating officer. “We look forward to growing our customer base with continued product innovation and a corporate focus on customer service.”

… Chris Black, Vivint’s chief financial officer, commented, “We continue to enjoy a very strong relationship with our lenders and are pleased to have added an additional $50 Million to our existing facility, increasing the bank deal to over $800 Million. The increase will be used to support organic growth of the business and continued expansion of our customer base.”

“I am very proud of the accomplishments that Vivint has been able to achieve,” added Todd Pedersen, Vivint’s chief executive officer. “None of this would have been possible without the support of our customers who trust us to protect what is most important in their lives, and the talented team we’ve assembled who are passionate about creating exceptional customer experiences every day.”

Vivint is not without its critics, however. A recent television news report from South Carolina cites a homeowner and CPI Security Systems, a North Carolina-based security monitoring company, in saying that Vivint used deceptive sales tactics to steal customers from CPI.

However, the TV report says Vivint issued a statement saying: "Vivint does not condone aggressive or misleading sales tactics. To ensure the highest level of customer service, Vivint conducts a recorded telephonic survey where the customer is asked to confirm their understanding of the terms of their agreement and that Vivint is not affiliated with any other company."

Vivint rebranded from APX Alarm Security Solutions in February 2011 to better reflect its expansion beyond security into home automation services.

APX Alarm secures $565m in new financing, brings new lenders to market

 - 
10/07/2010

PROVO, Utah—APX Alarm this week announced it had upped its debt financing by $125 million to a grand total of $565 million. In the process, it brought on two new lenders: Bank of America and, a new lender in the security space, Barclays Private Credit Partners (BPCP).