Standalone organization to rebrand as
Everon
CHICAGO, Oct. 2, 2023
/PRNewswire/ -- GTCR, a leading private equity firm, announced
today that it has closed the acquisition of ADT's commercial
security, fire and life safety security business (the "Company")
from ADT Inc. ("ADT", NYSE: ADT). Moving forward as a standalone
organization, ADT Commercial will rebrand as Everon.
GTCR will partner with former Protection1 executives
Dan Bresingham and Tim Whall, along with other members of ADTC
leadership, to acquire the Company, one of the leading national
providers of electronic security and fire safety services to
commercial enterprises and multi-site national accounts. Mr.
Bresingham, former leader of ADT's commercial security, fire and
life safety business, will become Chief Executive Officer of Everon
and Mr. Whall will serve as an active director on the Company's
Board.
The new Everon brand reflects the Company's go-forward strategy
as an independent company, rooted in the team's dedication to
customer service, deep expertise and focus on innovation to adapt
to the evolving security, fire and life safety needs of its
commercial environments.
"The team at Everon has a clear roadmap for the company's future
as an independent organization and we look forward to partnering
with leadership to help them realize their vision," said
David Donnini, Managing Director and
Head of Business & Consumer Services at GTCR.
"We are excited to work with GTCR under a brand that reflects
our decades of experience protecting people, property and assets
across industries. Everon is the trusted provider that customers
have come to rely on. We are always 'on'," explained Mr.
Bresingham. "We are focused on sustained growth and providing the
highest quality support and most advanced capabilities to the
customers who trust us."
"Everon has a longstanding reputation for excellence in service
and we look forward to continuing that legacy through strategic
M&A, investing in technology to support innovation, and
expanding Everon's portfolio of best-in-class solutions," added
Tom Ehrhart, Principal at GTCR.
Raymond James & Associates,
Inc. and Stifel served as financial advisors to GTCR. Citi and RBC
Capital Markets acted as financial advisors to ADT. Kirkland &
Ellis LLP provided legal counsel to GTCR. Cravath, Swaine &
Moore LLP provided legal counsel to ADT.
About GTCR
Founded in 1980, GTCR is a leading private equity firm that
pioneered The Leaders Strategy™ – finding and partnering with
management leaders in core domains to identify, acquire and build
market-leading companies through organic growth and strategic
acquisitions. GTCR is focused on investing in transformative growth
in companies in the Business & Consumer Services, Financial
Services & Technology, Healthcare and Technology, Media &
Telecommunications sectors. Since its inception, GTCR has invested
more than $25 billion in over 270
companies, and the firm currently manages more than $35 billion in equity capital. GTCR is based in
Chicago with offices in
New York and West Palm Beach. For more information, please
visit https://www.gtcr.com/. Follow us on LinkedIn.
About Everon
Everon, also known as ADT Commercial, is a leading national
integrator and premier service provider of commercial security,
fire and life safety. We support more than 300,000 customer
locations backed by our national strength and local knowledge of
over 5,000 employees across 100 offices, and two dedicated
monitoring and operations centers. Our company draws on an
outstanding legacy of service excellence that is strengthened by
decades of industry expertise to emerge as an innovator and service
excellence champion protecting commercial property, people, and
assets across industries. Corporate offices are based in
Boca Raton, Florida with our
Innovation & Operations HQ in Dallas,
Texas. For more information, please visit
everonsolutions.com. Follow us on LinkedIn. Everon – Powered
by Experience. Driven by Excellence.
CONTACTS
GTCR Media Relations
Andrew Johnson
212.835.7042
andrew.johnson@gtcr.com
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SOURCE GTCR