Tag: Quadrangle Group
For sale: Protection One
February 1, 2010Martha Entwistle
LAWRENCE, Kan.—Three days after the largest security company (ADT) announced it was buying the second-largest alarm company (Broadview Security), Protection One, the third largest alarm company, announced it is exploring its strategic alternatives, including a sale of the company.
“The financial markets are much stronger now than they were a year or so ago. Our company is performing well, and our balance sheet is in great shape,” Richard Ginsburg, Protection One CEO told Security...
Pro One sale final
March 1, 2004Martha Entwistle
TOPEKA, Kan.—The long saga of the sale of Protection One ended in mid-February, when former parent company Westar Energy finalized its sale to New York-based investment firm Quadrangle Group LLC. Quadrangle paid Westar $122 million for Protection One, which comprises more than 2,300 employees and more than a million commercial and residential customers, and all of its debt. Westar acquired the company in 1997 for $320 million. For Richard Ginsburg, president and chief executive officer of Protection...