MEDIA, Pa., and NEWTOWN SQUARE, Pa.—Alarm Capital Alliance, which also does business as My Alarm Center, is growing so much that it has created a CFO position and hired industry finance veteran Scott Peterson for the job.
OREM, Utah—Vision Security, a provider of home automation and monitoring services, recently secured a $35 million syndicated loan transaction with The PrivateBank and Trust, according to a Vision statement.
MADISON, Miss.—The Alarm Company, located in an isolated industrial park for years, moved in September to a strip mall on a busy road here. Going retail has attracted customers, generated lots of free publicity and is the wave of the future, according to company owner Tony Collums.
WALNUT CREEK, Calif.—It’s standard practice for security companies to charge customers early termination fees, but now a federal class-action lawsuit is targeting ADT for the penalties it imposes for early termination and also its unilateral price increases on monitoring contracts. The practices violate federal and state consumer protection laws, the lawsuit contends.
NEW YORK—After launching its IntelligentHome security/home automation product in upstate New York, Southern California and North Carolina in 2011, Time Warner Cable recently announced it plans to roll out IntelligentHome in its footprint nationwide in 2013.
MOOREVILLE, N.C.—In a new partnership, home improvement retailer Lowe’s has recently started offering Iris, its new home automation/home security product, in Verizon Wireless stores in 10 Eastern and Southern states.
SAN RAMON, Calif.—SAFE Security completed a $130 million senior debt refinancing in late February with five lenders led by Bank of America. The new credit facility is an increase of $55 million, or 73 percent, over SAFE’s previous financing of $75 million.
WILMINGTON, Del.—B Safe Security, a regional security and fire alarm company based here, made five acquisitions in 2012 that represented about $85,000 in RMR and more than doubled the company’s customer base. B Safe also has similar growth plans for this year.
John Bergher, EVP of marketing and customer care for Sacramento, Calif.-based GHS Interactive Security, talks to Tess about the partnership GHS formed this spring with Solar Universe to offer homeowners a solution combining security, home automation and solar.