ADT Corp (NYSE: ADT) has closed its previously announced purchase of Reliance Protectron Inc, a Montréal-based monitored security services provider and portfolio company of U.S. private equity firm Alinda Capital Partners. The deal’s value was $555 million. Formerly a subsidiary of Reliance Comfort LP, Reliance Protectron became a portfolio company of Alinda following the latter’s acquisition of UE Waterheater Income Fund for $1.74 billion in 2007. With its headquarters in Boca Raton, Florida, ADT is a home security provider. The Toronto-based Reliance Comfort recently agreed to buy National Energy Corp from Just Energy Group Inc for $505 million.
ADT Closes Acquisition of Reliance Protectron, Inc.
Transaction creates premier security company in Canada
BOCA RATON, Fla.–(BUSINESS WIRE)–July 08, 2014–
The ADT Corporation (NYSE: ADT) today announced that it has closed the previously announced acquisition of Reliance Protectron, Inc. (Protectron), from Reliance Comfort Limited Partnership, a portfolio company of investment funds managed by Alinda Capital Partners. ADT acquired Protectron for total cash consideration of CAD $555 million.
“We’re delighted to have completed the acquisition of Protectron, which will accelerate our growth plan for the important Canadian market and create value for ADT shareholders,” said Naren Gursahaney, ADT’s chief executive officer. “We look forward to partnering with Protectron’s talented team to provide excellent customer service and more choice for Canadians across a variety of traditional security and automation technologies.”
Daniel Demers, Protectron’s president and chief executive officer, added, “This combination creates a stronger company that is better able to meet the security needs of Canadian homeowners and business owners. Together, we help protect more than 800,000 Canadians with the best people, the best products and solutions, and the best customer service in the security industry.”
The acquisition significantly strengthens ADT’s business in Canada. Protectron is a leading provider of monitored security services in Canada and enjoys a highly satisfied customer base with greater levels of customer retention than other major players in the North American electronic security industry. The Company will continue to use the Protectron brand under ADT ownership.
The ADT Corporation (NYSE: ADT) is a leading provider of electronic security, interactive home and business automation and monitoring services for residences and small businesses in North America. ADT’s broad and pioneering set of products and services, including ADT Pulse(R) interactive home and business solutions, and health services, meet a range of customer needs for today’s active and increasingly mobile lifestyles. Headquartered in Boca Raton, Florida, ADT helps provide peace of mind to more than six million customers, and it employs more than 16,000 people at 200 locations. More information is available at www.adt.com.
Incorporated in 1988 and headquartered in Montreal, Quebec, Protectron is one of Canada’s largest security monitoring and installation companies. It employs over 900 qualified professionals who specialize in the selling, installing, servicing and monitoring of electronic security systems for more than 400,000 residential, commercial, industrial and wholesale subscribers nationwide. Subscribers are offered a full suite of security and related monitoring products and services, including intrusion, smoke detection, personal and medical emergency, and environmental monitoring as well as other specialized services. Best-in-class interactive and home automation services adapt to today’s connected lifestyle. For more information, visit www.protectron.com.
CONTACT: The ADT Corporation
Jason Shockley, +1-561-322-7235
Tim Perrott, +1-561-226-2983
SOURCE: The ADT Corporation
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