ADT Finalizes Acquisition of Red Hawk Fire & Security
Red Hawk, a portfolio company of Comvest Partners, employs approximately 1,300 staffers and serves more than 70,000 commercial facilities nationwide.
ADT completed its $317.5 million cash deal for Red Hawk Fire & Security.
BOCA RATON, Fla. — ADT (NYSE: ADT) announced Monday it has completed its acquisition of Red Hawk Fire & Security, a leader in commercial fire, life safety and security services and portfolio company of Comvest Partners.
The all-cash $317.5 million transaction was first announced Oct. 25.
In the announcement, ADT President and CEO Jim DeVries says the acquisition will strengthen the company’s growth in the commercial security market and meaningfully expand its product portfolio with the introduction of commercial fire safety-related solutions.
“With the added robust portfolio of fire and life safety solutions, as well as additional scale through commercially-focused sales professionals and technicians, we enhanced our position as a leader in commercial security, just as we are today in the residential market,” DeVries says. “ADT has a strong track record of successfully integrating acquisitions and we look forward to welcoming the talented Red Hawk team to the company.”
Under the ADT umbrella, Red Hawk Fire & Security’s ability to showcase its products and services to a wider range of national account and enterprise-level customers will be significantly accelerated, while also increasing ADT’s technician workforce dedicated to the commercial customer, according to the announcement.
Based here, Red Hawk was formed as an independent, unified fire and electronic security services brand to serve commercial customers after Comvest Partners acquired the U.S. fire and security operations division of United Technologies Corp. in April 2012.
Red Hawk leverages a robust platform to provide a differentiated fire and security solution across a diverse set of customers, markets and geographies. Red Hawk’s market-leading position has led to double-digit revenue growth and channel share increases in government, financial services, healthcare and education end markets, according to the company.
Red Hawk employs approximately 1,300 staffers and serves more than 70,000 commercial facilities nationwide.
“We admire the Red Hawk team’s dedication to building and growing one of the premier leaders in the fire and security market,” states Roger Marrero, managing partner at Comvest Partners. “We are grateful to have had such a collaborative and synergistic partnership with CEO Michael McWilliams, CFO Mark Foley, and the rest of the Red Hawk senior team, and strongly believe the Company is well positioned to continue building upon their industry-leading growth under ADT.”
Jefferies and Lincoln Int’l acted as financial advisors and McDermott Will & Emery acted as legal advisor to Red Hawk in connection with the transaction. Raymond James served as financial advisor and Morgan, Lewis & Bockius LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to ADT.
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