ADT Expands Commercial Capabilities With Security Corp. Buy
The Detroit-based acquired company provides integrated systems and services to businesses, institutions and high-end homes throughout the Midwest region.
The Detroit-based acquired company provides integrated systems and services to businesses, institutions and high-end homes throughout the Midwest region.
With revenues in excess of $40 million and more than 1,300 employees, Cypress Private Security provides a full range guarding services.
The purchase of the two companies gives B Safe Security greater depth of coverage in their respective locations, says company President Philip Gardner.
The credit facility will be used for working capital and corporate initiatives, to finance acquisitions and for repayment of existing debt.
Jerry Stearns was the sole employee of the acquired Waupaca, Wisc.-based company and will assist Per Mar in transitioning more than 400 customers.
Collectively both companies will have close to $20 million in recurring monthly revenue (RMR) and a customer base of nearly 400,000 subscribers.
Panasonic will transfer its security camera manufacturing and R&D operations — including its factory in Suzhou, China — to a new company being established.
As Monitronics aims to eliminate suffocating debt, plentiful access to capital has led alarm companies to be less reliant on dealer-program financing.
Since acquiring Pelco in 2007, Schneider Electric attempted to transition the company from an analog stalwart to a provider of end-to-end solutions.
The restructuring agreement calls for Monitronics to be merged with its holding company Ascent Capital Group upon stockholder approval.
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