Home Tags Cravath, Swaine & Moore

Tag: Cravath, Swaine & Moore

ADT sells commercial business for $1.6 billion to private equity firm

August 8, 2023SSN Staff

BOCA RATON, Fla.—On the heels of reporting its Q2 financial results, ADT made a huge announcement this morning, entering into a definitive agreement to sell its commercial security, fire and life safety business unit to private equity firm GTCR for a purchase price of $1.6 billion. Proceeds from the sale, which is expected to close in the fourth quarter of 2023, will be used to reduce debt by $1.5 billion, with cash interest savings expected to offset the impact of divesting the commercial...

ADT, ADT Commercial, Citi, Cravath, Swaine & Moore, David Donnini, GTCR, Jim DeVries, RBC Capital Markets