PR Newswire
CHICAGO, Oct. 2, 2023
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
[email protected]
View original content to download multimedia:https://www.prnewswire.com/news-releases/gtcr-completes-acquisition-of-adts-commercial-fire-and-security-segment-301944792.html
SOURCE GTCR
