Dallas – Monitronics Int’l, which goes to market as Brinks Home Security, announced that it has emerged from Chapter 11 Bankruptcy and has merged with Ascent Capital Group. This development marks the completion of the company’s financial reorganization.
With this financial recapitalization Monitronic’s largest shareholders will be EQT credit, the credit arm of EQT partners, and Brigade Capital Management.
President and CEO Jeffery Gardner optimistically stated: “With renewed balance sheet strength, a strong subscriber portfolio and recurring revenue base, and the support of EQT and Brigade, two highly regarded financial supporters, we are well-positioned to be a leader in the accelerating home security market and to execute on the vast growth opportunities ahead.”
With their Chapter 11 Bankruptcy Monitronics/Brinks home security eliminated approximately $885 million in un-paid debt to their creditors.
American Guardian’s President Brant Henke related: “The current security marketplace is not for the faint of heart. Almost weekly there are announcements of bankruptcies, consolidations, mergers and acquisitions. You have to be nimble, agile and adaptive to change to survive and prosper in this industry. Unfortunately all do not survive. On the flip side of the equation, the larger companies keep getting bigger and gaining market share. ADT Security just announced that they have acquired two more Commercial Fire/Life Safety providers. ADT has now completed asset purchase agreements for Systems Group as well as fire protection company Fusion Fire Protection. These acquisitions make ADT even more dominant in the commercial security space.”
American Guardian Security Systems. Inc. is an Authorized Dealer for ADT Security. This gives American Guardian tremendous marketing advantage by having access to the cutting edge products and monitoring services that ADT, North America’s largest security company, offers. ADT is without question the Amazon of the security industry.
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