Security Networks LLC announced this week that it has been acquired by Oak Hill Capital Partners in partnership with Security Networks’ management team, led by CEO and president, Richard W. Perry. The terms of the transaction were not disclosed.
“We are very excited to partner with Oak Hill Capital, a leading private equity firm with a long history of helping management teams realize their strategic visions,” Perry said. “This transaction will provide Security Networks with substantial financial resources, which will enable us to expand our geographic footprint and achieve our growth initiatives.”
Founded in 2000 by Perry and headquartered in West Palm Beach, Fla., Security Networks is a provider of home security services in the United States. The company is a supplier of life safety systems and services, including the sale, installation, monitoring and maintenance of residential and commercial security alarms and related products.
The company provides its monitoring services through its UL-listed central monitoring station in Kissimmee, Fla., which has been recognized as Five Diamond Certified by the Central Station Alarm Association. The company’s customer service has been accredited by the Better Business Bureau, which rated the company A+ for reliability and customer satisfaction. Security Networks works with its rapidly growing network of exclusive affiliate partners, which provide sales and installation support on behalf of the company to its customers, according to a press release issued by the companies.
“We look forward to working closely with Rich and the Security Networks management team,” commented Jonathan Friesel, a partner of Oak Hill Capital. “The company has a sterling reputation for delivering exceptional service to customers, and its highly successful affiliate program is helping to drive industry leading growth. We believe our investment positions Security Networks for future success through both organic growth and strategic acquisitions.”
Senior debt financing for the transaction was arranged by Goldman Sachs Specialty Lending Group L.P. and Barclays Private Credit Partners LLC. Subordinated debt financing for the transaction was provided by BNY Mellon-Alcentra Mezzanine Partners and Northwestern Mutual Capital.
Security Networks Acquired by Oak Hill Capital
November 11, 2010