Pinnacle Security, Orem, Utah, has been in the news lately with several sales of various assets. Signs point to the dissolution of this company. And with rumors that parent company Golden Gate Capital is looking for a buyer for Devcon Security, this could mean Golden Gate is bowing out of the security industry. A spokesperson for Golden Gate Capital declined to comment.
Back in October, 2012, Monitronics, Dallas, announced an initial purchase of 93,000 accounts from Pinnacle that would begin an ongoing partnership. Pinnacle would function as the sales generating partner and Monitronics would take over those accounts. That initial account acquisition added $4.4 million of gross recurring monthly revenue for Monitronics, with a price tag of $131 million. According to Monitronics, those accounts had approximately 75 percent penetration of interactive services.