The Beekman Group said Thursday that it has recapped NorthStar Alarm Services. Financial terms were not announced. NorthStar’s founder, Jason Christensen, and the current management team, which will continue to lead the company and maintain a stake, took part, Beekman says. Orem, Utah-based NorthStar is a security alarm company.
NEW YORK–(BUSINESS WIRE)–Beekman Investment Partners II, LP (“Beekman”) today announced that it has led the recapitalization of NorthStar Alarm Services, LLC (“NorthStar” or the “Company”), a leading provider of residential security alarm installation and monitoring services with more than $1.0 million of recurring monthly revenue. Beekman partnered with NorthStar’s founder, Jason Christensen, and the current management team, who will continue to lead the Company and maintain a significant ownership interest.
Founded in 2000 and headquartered in Orem, Utah, NorthStar has grown rapidly in recent years, and is currently one of the 40 largest security alarm companies in the United States. NorthStar generates alarm contracts through an internal sales force, which is complemented by a 24-7 support staff and a team of well-trained technicians and professional consultants. Service offerings include intrusion alarms, fire alarms, video surveillance, life-safety devices and home automation products.
Jason Christensen has led NorthStar from inception to becoming a nationwide platform within the alarm industry. Jason commented, “I am extremely excited to partner with The Beekman Group to pursue the next phase of growth for NorthStar. Beekman has a strong track record of partnering with management teams to support the growth initiatives of middle market companies and its industry partner relationships have significant expertise in the residential alarm monitoring industry, having supported the growth of numerous successful platforms.”
John G. Troiano, Beekman’s Managing Partner and CEO, stated “The Beekman team has been interested in the security alarm industry for several years and we found an extremely attractive platform in NorthStar. We are excited to partner with NorthStar’s management team and value not only the successful growth already achieved, but the culture of integrity, accountability and service that Jason has built from top to bottom in the organization.”
About The Beekman Group
The Beekman Group is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies. Beekman’s team consists of experienced private equity professionals, as well as a select group of Industry Partners, who are leading executives in Beekman’s targeted industry segments. This Industry Partner approach to investing is the cornerstone of Beekman’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams. For more information, please visit www.thebeekmangroup.com.
About NorthStar Alarm Services
NorthStar Alarm Services, LLC, a top home security provider and authorized dealer of Honeywell Security Products, provides the most technologically-advanced and user-friendly home security systems on the market. Having the equipment, relationships, and reputation that families have been able to count on since 2000, NorthStar continues to grow and protect residents in more than 20 states across the U.S. With a 24-7 support staff, Rapid Response monitoring, well-trained technicians, and professional consultants, NorthStar Alarm exists to provide security and peace of mind through quality products and superior service. For more information, please visit http://www.northstaralarm.com.