Independent organization rebrands as Everon
CHICAGO , Oct. 2, 2023 /PRNewswire/ — GTCR, a leading private equity firm, today announced it has completed its acquisition of ADT's commercial security and fire and life safety security businesses (the “Company”) from ADT Inc. (“ADT”; NYSE: ADT). Moving forward as an independent organization, ADT Commercial will rebrand as Everon.
GTCR is partnering with former Protection1 executives Dan Bressingham and Tim Wall, as well as other ADTC executives, to acquire the nation's leading provider of electronic security and fire protection services to commercial enterprises and multi-location national customers. Bressingham, the former leader of ADT's commercial security, fire and life safety business, will become Everon's CEO, and Wall will serve as an active director on the company's board of directors.
The new Everon brand reflects the company's strategy moving forward as an independent company and is rooted in the team's dedication to customer service, deep expertise and focus on innovation to adapt to the changing security, fire and life safety needs in commercial environments.
“The Eberon team has a clear roadmap for the company's future as an independent organisation and we look forward to partnering with the leadership to help realise their vision,” said David Donini, managing director and head of business and consumer services at GTCR.
“We are pleased to join forces with GTCR under a brand that reflects our decades of experience protecting people, property and assets across industries. Everon is a trusted provider our customers can rely on – we are always 'on,'” explains Bressingham. “We are focused on sustained growth and delivering the highest quality support and cutting-edge capabilities to the customers who trust us.”
“Evalon has a long-standing reputation for excellent service, and we look forward to continuing that tradition through strategic M&A, investments in technology to support innovation, and expanding Evalon's portfolio of best-in-class solutions,” added Tom Ehrhart, Principal at GTCR.
Raymond James & Associates, Inc. and Stifel acted as financial advisors to GTCR. Citi and RBC Capital Markets acted as financial advisors to ADT. Kirkland & Ellis LLP acted as legal advisor to GTCR. Cravath, Swaine & Moore LLP acted as legal advisor to ADT.
About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered the Leaders Strategy™, which seeks to identify, acquire and build market-leading companies through organic growth and strategic acquisitions by discovering and partnering with management leaders in core domains. GTCR focuses on investing in transformational growth for companies in the business and consumer services, financial services and technology, healthcare and technology, and media and communications sectors. Since inception, GTCR has invested more than $25 billion in over 270 companies and currently manages more than $35 billion of equity capital. GTCR is headquartered in Chicago with offices in New York and West Palm Beach. For more information, please visit https://www.gtcr.com/. Follow us on LinkedIn.
About Eberron
Everon, also known as ADT Commercial, is a top national integrator and premier service provider in commercial security, fire and life safety. We support more than 300,000 customer locations with national strength and local knowledge from more than 5,000 employees across 100 offices and two dedicated monitoring and operations centers. Leveraging a tradition of superior service excellence strengthened by decades of industry expertise, we have emerged as an innovator and leader in service excellence protecting commercial real estate, people and assets across a range of industries. Headquartered in Boca Raton, Florida, with innovation and operations headquarters in Dallas, Texas. Learn more at everonsolutions.com. Follow us on LinkedIn. Everon – Driven by experience. Driven by excellence.
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SOURCE GTCR