GTCR, a private equity firm, has announced that it has signed an agreement to acquire ADT’s Commercial fire and security segment (ADTC) for approximately $1.6 billion.

Acquisition

According to GTCR, the acquired company was formed through ADT’s 2017 merger with Protection 1 (P1), a prior GTCR investment.

GTCR will partner with former P1 executives Tim Whall and Dan Bresingham for the acquisition. Bresingham, the company’s current leader, will become CEO of the standalone business upon close.

Whall will join the company’s board at close and serve as an active director. Whall has over 30 years of experience in the security industry and this will mark his fourth partnership with GTCR in the security space.

Expansion

Headquartered in Irving, Texas, ADTC is a provider of the installation, monitoring and ongoing service of commercial security, fire and life safety solutions. The company has more than 5,300 colleagues across over 100 locations servicing more than 300,000 customer sites.

GTCR says that with this acquisition, it will implement a strategy to drive continued growth and innovation, with additional capital available to help fund strategic M&A opportunities.

“We are excited to again partner with Dan and Tim, as well as the incredible team at ADTC,” said David Donnini, Managing Director and Head of Business & Consumer Services at GTCR.

“This is a unique opportunity to invest in a successful business that we know well and helped develop, alongside partners that we have worked with for two decades.

“We believe making ADTC a standalone company strengthens its competitive positioning, sets up ADTC for future growth and builds upon GTCR’s history of successfully transforming businesses in the sector.”

“The highest quality of customer service”

“We have built a highly skilled team and strong platform at ADTC that is well positioned for long-term success as a standalone organization,” said Bresingham.

“We know that GTCR will be a great partner given our shared experience and their focus on growth while delivering exceptional service.

“Together, we will continue to invest in expansion, innovation and in the highest quality of customer service.”