ADT Corporation announced recently it has executed a definitive agreement to acquire Reliance Protectron Inc.,
ADT Corporation, Boca Raton, Fla., announced recently it has executed a definitive agreement to acquire Reliance Protectron Inc., a subsidiary of Reliance Comfort Limited Partnership, a portfolio company of investment funds managed by Alinda Capital Partners, for total cash consideration of CAD $555 million (approximately USD $500 million). The acquisition of Protectron will significantly strengthen ADT’s Canadian operations and create a combined security industry leader in Canada, differentiated by its ability to reach consumers and provide them with better service and more choice across a variety of traditional security and automation technologies, ADT stated in a press release. Protectron is a provider of monitored security services in Canada. The acquisition brings ADT 400,000 residential and commercial customers inclsuding 31,000 contract monitoring accounts, and CAD $12 million (approximately USD $11 million) in associated recurring monthly revenue.
Protectron will continue to be headquartered in Montreal under ADT’s ownership. The company enjoys strong brand awareness and ADT will continue using the Protectron name.”Protectron brings many strengths as we invest in growing our business in Canada. Our long-standing commitment to customer service aligns perfectly with Protectron’s, as their seasoned management team has been extremely successful in growing and retaining their customer base through outstanding customer support,” said Naren Gursahaney, ADT’s chief executive officer.