Fire & Security
Fire protection, home security, and alarm monitoring
What PE Ownership Means for This Industry
40% fee increase
Apollo's ADT acquisition led to price increases and long-term contracts
After Apollo's $6.9B acquisition, ADT increased monitoring fees and imposed mandatory multi-year contracts with high early termination penalties.
Source: Consumer Reports, 2019
PE-Owned Brands
ADT
Owned by Apollo Global Management
Largest home security company in the US. Apollo acquired in 2016 for $6.9B, took public in 2018
ADT Security Services
Owned by Apollo Global Management
Apollo Global Management acquired ADT Security Services from Tyco International for $6.9B in 2012, taking it private. Apollo took ADT public in 2018 at an $11B valuation, having loaded it with $10B+ in debt. Customers and employees report high-pressure sales tactics and difficult contract cancellation processes.
Jensen Hughes
Owned by Gryphon Investors
Fire protection, life safety, and risk consulting engineering firm. Gryphon Investors acquired Jensen Hughes in 2015.
Pye-Barker Fire & Safety
Largest PE-backed fire protection platform, aggressively acquiring local fire protection companies
Verisure
Owned by Hellman & Friedman
Hellman & Friedman acquired Verisure, Europe's largest home alarm company, in 2011. The company operates in 16 countries and has been criticized for aggressive door-to-door sales tactics and difficult contract cancellation terms.
Vivint Smart Home
Owned by The Blackstone Group
Smart home and security company, Blackstone-backed before NRG Energy acquisition