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GTCR sells Protection 1

Private equity firm GTCR is to sell Protection 1, one of the largest providers of security alarm monitoring the the United States, to Apollo Global Management.

Protection 1 provides installation, maintenance and monitoring of security systems for residential, commercial and national accounts customers nationwide, and serves nearly two million customers, employing over 3,500 people in more than 70 office locations and five UL Certified monitoring centres across the country.

In executing the Leaders Strategy, GTCR partnered for a third time with security industry leader Tim Whall to acquire Protection 1 in 2010. Whall previously partnered with GTCR on successful investments in Cambridge Protection Industries and HSM Electronic Protection Services.

Since GTCR and Tim Whall completed the acquisition in 2010, Protection 1 materially strengthened the customer experience and improved customer retention in the Company’s core business. In addition, the Company successfully expanded into new residential and commercial sales channels through strategic acquisitions and select additions to its management team.

“The operational improvements and growth initiatives that Tim and the entire Protection 1 team accomplished over the last five years represents another excellent example of GTCR successfully executing The Leaders Strategy,” says GTCR Managing Director David Donnini. “Tim and the entire Protection 1 team have built a tremendous platform that enjoys industry-leading operating metrics, exceptional customer service and attractive growth prospects.”

“We’d like to thank GTCR for their commitment and support in transforming Protection 1 over the last five years,” says Whall. “GTCR has been a great partner, and extremely supportive of the investments made to improve customer service and achieve long-term growth.”

“This is our third successful partnership with Tim Whall over the last 15 years,” adds GTCR Managing Director Collin Roche. “His operational excellence and focus on the highest quality customer service has led to an exceptional track record of success.”

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