| The acquisition will significantly strengthens ADT's business in Canada |
The ADT Corporation recently announced that it has closed the previously announced acquisition of Reliance Protectron, Inc. (Protectron), from Reliance Comfort Limited Partnership, a portfolio company of investment funds managed by Alinda Capital Partners. ADT acquired Protectron for total cash consideration of CAD $555 million.
"We’re delighted to have completed the acquisition of Protectron, which will accelerate our growth plan for the important Canadian market and create value for ADT shareholders,” said Naren Gursahaney, ADT's chief executive officer. “We look forward to partnering with Protectron’s talented team to provide excellent customer service and more choice for Canadians across a variety of traditional security and automation technologies."
Daniel Demers, Protectron’s president and chief executive officer, added, “This combination creates a stronger company that is better able to meet the security needs of Canadian homeowners and business owners. Together, we help protect more than 800,000 Canadians with the best people, the best products and solutions, and the best customer service in the security industry.”
The acquisition significantly strengthens ADT's business in Canada. Protectron is a leading provider of monitored security services in Canada and enjoys a highly satisfied customer base with greater levels of customer retention than other major players in the North American electronic security industry. The Company will continue to use the Protectron brand under ADT ownership.