Tag: Apollo
Megamergers: benefit or pitfall?
March 16, 2016Spencer Ives
YARMOUTH, Maine—Industry consolidation will accelerate this year with two megamergers—the Tyco/JCI deal and the ADT/Protection 1 merger—expected to close by the end of 2016. Does this activity help or hurt the industry? Respondents to Security Systems News' latest news poll who said massive consolidation is good just barely edged out those who said these megadeals hurt the industry. Meanwhile, another group of respondents said they have other things to worry about.
Several...
Monitoring companies foresee benefits from ADT/Protection 1 merger
March 9, 2016Spencer Ives
YARMOUTH, Maine—Monitoring companies have an opportunity to attract new business, new dealers and new employees in the wake of the planned ADT/Protection 1 merger, according to five leading monitoring companies who spoke to Security Systems News.
“There's going to be a lot of really good people in this combined company that are not going to have a home in the long run or are going to find that they're not as happy as they might have been in the past,” John Cerasuolo,...
After ADT's news, Ascent stock rises
February 17, 2016Spencer Ives
Ascent Capital Group's stock price rose yesterday, on news of the ADT/Apollo deal.
I asked Imperial Capital's Jeff Kessler about the stock's jump and he characterized it as a “knee jerk reaction to the fact that the only other company in the United States that's public, being traded, is being taken over.”
Yesterday (Feb. 16) Ascent's stock price rose as high as 49 percent over its previous close of (Feb. 12) of $8.27 per share. Yesterday's high was $12.29. The stock closed at $11.00...
Apollo to buy ADT for $6.9 billion, combine with Protection 1
February 16, 2016Martha Entwistle
BOCA RATON, Fla.—Apollo has landed again. After years of rumors that ADT would be acquired by one entity or another, the home and business security giant today announced it has agreed to be acquired by Apollo Global Management for $6.9 billion ($42 per share). Apollo plans to combine ADT with Protection 1 and, according to an ADT news release, “will operate primarily under the ADT brand.”
Apollo, which manages $170 billion and is one of the world's largest private equity...
Protection 1 buys Cam Connections
June 2, 2015Martha Entwistle
LAKELAND, Fla.—Protection 1 announced today that it is buying Cam Connections, (CCI) a full-service integrator based here. The acquisition comes in the midst of Protection 1 being acquired by Apollo Global Management, but it's still closing deals on its own.
"While CCI serves a number of different industries, they are particularly strong in the retail segment and providing integrated high-end solutions," Protection 1 CMO Jamie Haenggi told Security Systems News in an email...
Apollo lands Protection 1, ASG
June 1, 2015Martha Entwistle
NEW YORK—Apollo Global Management is about to take one giant leap into security with its May 19 agreement to acquire Protection 1 and ASG Security.
Under the agreement, reportedly $2 billion, the combined companies will operate under the Protection 1 brand, with Protection 1 CEO Tim Whall at the helm.
Whall told Security Systems News that given the companies' “like-minded approach to the operations, the combination will be a force in the marketplace."
The deal would...