Peterson Partners exits investment in Vivint
Peterson Partners has exited its investment in Vivint.
Blackstone Capital Partners VI, a fund managed by Blackstone on behalf of its private equity investors, purchased the entirety of Peterson’s equity interest.
“We are extremely proud to be part of one of the largest private company transactions in the state of Utah,” says Dan Peterson, managing partner of Peterson Partners. “This transaction furthers our established track record of aligning with outstanding management teams to help build great businesses and accelerate growth. Vivint’s founders and executive team produced exceptional results for customers, shareholders, employees and the community at large. We feel fortunate to have been associated with such an extraordinary company.”
The acquisition includes three primary assets: Vivint, one of the largest home automation services companies and the second largest residential security services provider in North America; Vivint Solar, the fastest growing solar company in the US using power purchase agreements to provide affordable solar solutions to residential consumers across North America; and 2GIG Technologies, which creates security and automation equipment for the residential and small commercial markets.
The Vivint acquisition was announced on 19 September 2012. Blackstone acquired Vivint for in excess of USD2bn.
- By Category
- News from other sites
- Special Reports
- Partner events