Monitronics to Purchase Pinnacle Accounts on Ongoing Basis
Pinnacle Security, Orem, Utah, formed an alliance with Monitronics via a sale of a portion of its existing account portfolio and an agreement for future account sales.
The goal of this agreement is to enable growth for both companies, with Pinnacle as the sales engine and Monitronics servicing the new accounts. The agreement to purchase some existing accounts has no residual service obligation, no holdback and no account guarantees. These are all built into a 33x net multiple.