Tag: Blackstone
Vivint owners sell guard company for $1.67 billion
July 8, 2015Spencer Ives
NEW YORK—Blackstone, a private equity firm based here, recently announced the $1.67 billion sale of security guard company AlliedBarton to Wendel, a Paris-based private equity group. AlliedBarton is now looking at acquisitions, Robert Perry, president and CEO of Robert H. Perry and Associates, told Security Systems News.Perry said the deal will impact the entire industry. “I think it's very positive for the industry … I think it's going to attract a lot more investors to the industry...
Vivint owners sell AlliedBarton for $1.67 billion
June 30, 2015SSN Staff
NEW YORK—Blackstone, a private equity firm based here, today announced the $1.67 billion sale of security guard company AlliedBarton to Wendel, a Paris-based private equity group.Blackstone, which owns Vivint, first discussed selling AlliedBarton in March. The estimated value of the company was then $1.5 billion. The deal is expected to be closed in the third quarter of this year.“We are very excited to join Wendel,” Bill Whitmore, chairman and CEO of AlliedBarton, said in a prepared...
Nortek to buy 2GIG for $135m
February 14, 2013Martha Entwistle
PROVIDENCE, R.I.—Nortek, parent company of Linear, announced this morning that it will acquire 2GIG Technologies for $135 million.
2GIG, known for its Go!Control system, is a manufacturer of security and home automation equipment. The company was launched in 2009 by two former Honeywell employees.
Nortek's Linear business helped develop the 2GIG Go!Control product. Linear was in the news a couple of weeks ago when it purchased a line of Z-Wave-enabled products.
“Our partnership...
Following the money: Schmidt, Barnes and Christhilf talk deals, valuations and taxes
December 12, 2012Martha Entwistle
YARMOUTH, Maine—A number of big deals happened in 2012: the split-up of Tyco, the acquisition of Vivint and the creation of Securadyne, to name a few. As the end of the year approached, Security Systems News conducted a virtual roundtable with industry experts about the deals that went down and those that did not. How did valuations compare to 2011, and were buyers' and sellers' expectations matching up?Weighing in on these topics were Will Schmidt, managing director of CapitalSource; Michael...
Vivint to be sold to Blackstone in $2 billion deal
September 18, 2012Martha Entwistle
PROVO, Utah—Vivint has entered into an agreement with the Blackstone Group to be acquired in a deal worth “north of $2 billion,” Todd Pedersen, Vivint CEO, told Security Systems News.“We're pretty happy about it,” he said.The deal, which Security Systems News did some initial reporting on last week, is expected to close before the end of the year.Blackstone will buy out Vivint's current equity partners Goldman Sachs, Jupiter Partners and Peterson Partners. Vivint management,...