UPDATED 05/15 - In a newly official business partnership six months in the making, NorthStar Alarm Services, Orem, Utah. entered into a transaction to recapitalize the company with a group of new investors including Goldman Sachs and The Beekman Group. NorthStar also expanded its current credit facility to $40 Million with Bank of America and Zions Bank.

The company believes this is an ideal partnership due to Goldman Sachs’ previous success and experience in the alarm industry and Beekman’s proven track record of developing a culture of excellence within its management teams. 

Jason Christensen, founder and CEO of NorthStar stated, “This is an ideal relationship that will provide NorthStar with even more capital flexibility to support our projected growth.  It also brings additional industry expertise and resources that will enable the company to continue its path of excellence within this industry.  I couldn’t be more excited for the company and everyone that is affiliated with NorthStar."

John Troiano, managing partner at Beekman, stated, “This is an impressive company with a talented management team and a well-defined culture built on the core values of integrity, accountability and service.  We are excited to partner with NorthStar during its next phase of growth and development.”

 NorthStar is a Utah-based security provider that was founded in 2000. The company has customers in eighteen states throughout the United States. The company has grown by more than 30 percent per year for the past six years and currently has more than $1 million in monthly recurring revenue, ranking No. 40 in the SDM 100.

The Edmonds Group, a specialized investment bank focused on recurring revenue businesses, has acted as an exclusive financial advisor to NorthStar in facilitating this transaction.