Funds affiliated with Hellman & Friedman (H&F), a US-based Private Equity firm, have agreed to acquire the entirety of Bain Capital’s interest in Securitas Direct Verisure Group.
The acquisition places H&F in a majority shareholder position alongside Company management and creates an optimal platform for continued growth.
Securitas Direct Verisure Group is a leading European provider of professionally monitored home alarm systems with 24/7 response services offered through its Securitas Direct and Verisure brands. The Company’s mission is to bring peace of mind to families and small business owners by providing them with the best security solutions and service.
Bain Capital and H&F acquired Securitas Direct Verisure Group in 2011. Following their investment and partnership, Securitas Direct Verisure Group has expanded into new countries such as Italy and Brazil, improved on its leadership position in existing markets and delivered exceptional operational and financial performance. Both H&F and Bain Capital sponsored continued investment in cutting-edge innovative products and services as well as world-class talent acquisition and development. Securitas Direct Verisure Group has also implemented numerous initiatives to create a more satisfied and loyal customer base and today has some of the best retention rates globally in consumer-facing services, demonstrating its exceptional service levels and strong value proposition to its customers.
Austin Lally, Group CEO says: “This proposed transaction is a strong vote of confidence in our unique business model, our track record, the value creation ahead and the talented individuals within our team. We strive to have the happiest customers. They are at the centre of everything we do. I am also delighted to continue to work with H&F. Alongside Bain Capital, we have been working closely with H&F in a very productive way.”
“We have been delighted with the outstanding development of Securitas Direct Verisure Group since the beginning of our partnership in 2011 and we see substantial untapped potential in the company”, says Stefan Goetz, Managing Director at Hellman & Friedman. “Now we have the opportunity to acquire a company that we know well, with a strategy and long-term value creation plan that we have been an integral part of developing. We look forward to continuing to work with management in realising this plan going forward.” concluded Stefan Goetz.
Patrick Healy (pictured), Deputy CEO of Hellman & Friedman, adds: “Bain Capital have been great partners to us and the Company and have contributed greatly to its success. Our strategy is to invest in great businesses with strong long-term growth and we are therefore excited about the opportunity to increase our stake in Securitas Direct Verisure Group.”
This transaction would be H&F’s largest investment in its 30-year history as one of the most successful and respected Private Equity firms in the world.
Robin Marshall, a Managing Director of Bain Capital Private Equity, added, “We have had a very successful partnership with H&F, Austin, and the entire Securitas Direct Verisure team. During the past four years, we have transformed and grown the company in new and existing markets. We are proud of the Company’s performance and wish the team continued success.”
“I am very proud of what we have achieved together so far. We now look forward, and we will ensure this new period of ownership is a catalyst for further growth” concluded Lally.
The closing of the transaction is subject to customary regulatory requirements and approvals.
Kirkland & Ellis LLP and Pricewaterhouse Coopers LLP served as advisors for Bain Capital. Latham and Watkins LLP and Ernst & Young LLP served as advisors for Hellman & Friedman LLC. Securitas Direct Verisure Group was advised by Weil, Gotshal & Manges and Deloitte LLP.
