Honeywell Finalizes Sale of Monitoring Business
MORRIS TOWNSHIP, N.J.
Honeywell has finalized its sale of Honeywell Security
Monitoring to a Chicago-based private equity firm. GTCR
Golder Rauner LLC has paid $315.5 million in cash for the
Minneapolis-based commercial and residential security
marketing business. The sale, nid=1611 >first announced May 3, was finalized on June
28.
Despite the end of Honeywell’s participation in the company, it will still market itself as Honeywell Security Monitoring on a transitional basis.
Collin Roche, a senior principal of GTCR, had previously told SSI that GTCR will keep Honeywell Security Monitoring’s management in place and is looking to expand the company.
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