Tag: Rich Perry
Former Security Networks CEO Rich Perry mulls next move
August 21, 2013Martha Entwistle
WEST PALM BEACH, Fla.—With the Aug. 16 close of the Monitronics-Security Networks deal behind him, former Security Networks CEO Rich Perry is taking some time off, but he's spending some of that time thinking about his next venture in the security industry.“There are a couple of key areas that I want to look at—one is doing another acquisition in partnership with private equity [possibly] with Oak Hill Capital,” he told Security Systems News.Security Networks was acquired...
Monitronics to acquire Security Networks
July 10, 2013Martha Entwistle
ENGLEWOOD, Colo.—Monitronics will have more than 600 dealers and 1 million accounts when it completes the $487 million acquisition, announced today, of super-regional security company Security Networks, the 14th largest residential alarm monitoring company in the United States.
The deal, which is expected to close Aug. 16, includes $487.5 million of cash, and 253,333 newly issued shares of Ascent Series A common stock with an agreed value of $20 million, according to the statement. The purchase...
Security Networks to donate security systems to three nonprofits
February 7, 2013SSN Staff
WEST PALM BEACH, Fla.—Security Networks, a home automation company based here, is donating security systems to three nonprofit organizations, according to a company statement. The donations are in celebration of 12 years stationed in the West Palm Beach community.
“A nonprofit, depending on their mission, could use a security system to meet a variety of needs,” Rich Perry, Security Networks president, said in the statement. “For example, a women's shelter might find the system...
Barnes Buchanan conference to kick off Feb. 7
January 29, 2013SSN Staff
PALM BEACH, Fla.—The 18th annual Barnes Buchanan Security Alarm Conference is scheduled for Feb. 7-9 at The Breakers resort. While the lineup of speakers is still being finalized, the agenda includes a roundtable featuring Don Boerema of ADT, Tim Whall of Protection 1, Rich Perry of Security Networks and Pam Petrow of Vector Security.
�Other forums will include an overview of debt markets for the security industry, led by Bill Polk of Capital One, and an analysis of the security alarm...
Security Networks ups credit facility by $100 million
May 2, 2012Martha Entwistle
WEST PALM BEACH, Fla.—Security Networks, a super-regional based here, announced April 30 that it has extended its credit facility by $100 million, bringing the total to $250 million.“It allows us to stay ahead of the curve in terms of our capital structure, to execute our business plan,” Rich Perry Security Networks CEO told Security Systems News.The company is “40 percent over planned production” so far in 2012 and has had about 38 percent CAGR for the past five years....
Westward ho! For Security Networks, Vision Security
April 19, 2011Tess Nacelewicz
WEST PALM BEACH, Fla.—When a private equity firm acquired super-regional Security Networks last fall, president and CEO Rich Perry said the transaction would allow Security Networks to expand east of the Mississippi.
Now, this spring, Security Networks, which is based here, announced it has renewed its long-term affiliate agreement with Vision Security, the largest affiliate in Security Networks' affiliate program, and said the renewal is a part of the company's plans for westward expansion....
Security Networks acquired by Oak Hill Capital
November 9, 2010Martha Entwistle
WEST PALM BEACH, Fla.—Expect to see super-regional Security Networks expand operations west of the Mississippi as the result of its Nov. 8 acquisition by private equity firm Oak Hill Capital Partners.
Oak Hill, an $8 billion company with offices in New York and Menlo Park, Calif., is making its first foray into the security alarm space with this buy.
The acquisition, terms of which were not announced, is a partnership between Security Networks management and Oak Hill. Previously, Security...