ADT Inc. (NYSE: ADT), a Boca Raton, Fla.-based provider of security, automation, and smart home solutions serving consumer and business customers in the United States, acquired Defenders, an Indianapolis based independent dealer and only Authorized Premier Provider, for a purchase price of approximately $381m.
As part of the transaction, Defenders founder David P. Lindsey and Jessica A. Lindsey received approximately 16.3 million shares of ADT common stock for 100% of their ownership in Defenders, while the remaining $260 million of consideration was paid in cash to retire existing Defenders debt, fund other liabilities, and pay transaction expenses. The cash consideration was partially funded from existing revolving credit facilities.
Together, the two copmpanies will provide a full suite of innovative security and home automation products, including consumer financing, to a complementary geographic footprint.
Led by Jim DeVries, President and Chief Executive Officer, ADT is a provider of security, automation, and smart home solutions serving consumer and business customers through more than 200 locations, 9 monitoring centers, and a large network of security professionals in the United States.
Founded in 1998 and led by David Lindsey, Chairman and Founder, and Jim Boyce, President & CEO, Defenders is ADT’s largest independent dealer, with approximately 2,900 team members across more than 130 field branch locations. The company has developed a direct marketing skillset, currently generating more than 6 billion ADT advertising impressions annually.
FinSMEs
07/01/2020