Oak Hill Capital Partners Acquires Security Networks

  • Nov 12, 2010

Security Networks, LLC has been acquired by Oak Hill Capital Partners in partnership with Security Networks’ management team, led by CEO and President Richard W. Perry. The terms of the transaction were not disclosed.

Founded in 2000 by Perry and headquartered in West Palm Beach, Fla., Security Networks is one of the largest and fastest growing providers of home security services in the United States.

The company provides high quality life safety systems and services, including the sale, installation, monitoring and maintenance of residential and commercial Security Alarms and related products. The company provides its monitoring services through its UL-listed Central Monitoring operations, which have been recognized as “Five Diamond Certified” by the Central Station Alarm Association. The company’s customer service has been accredited by the Better Business Bureau, which rated the company “A+” for reliability and customer satisfaction. Security Networks works with its rapidly growing network of exclusive affiliate partners, which provide sales and installation support on behalf of the company to its customers.

Perry said, “We are very excited to partner with Oak Hill Capital, a leading private equity firm with a long history of helping management teams realize their strategic visions. This transaction will provide Security Networks with substantial financial resources, which will enable us to expand our geographic footprint and achieve our growth initiatives.”

Jonathan Friesel, a partner of Oak Hill Capital, said, “We look forward to working closely with Rich and the Security Networks management team. The company has a sterling reputation for delivering exceptional service to customers, and its highly successful affiliate program is helping to drive industry leading growth. We believe our investment positions Security Networks for future success through both organic growth and strategic acquisitions.”

Senior debt financing for the transaction was arranged by Goldman Sachs Specialty Lending Group L.P. and Barclays Private Credit Partners LLC. Subordinated debt financing for the transaction was provided by BNY Mellon-Alcentra Mezzanine Partners and Northwestern Mutual Capital.

Oak Hill Capital Partners is a private equity firm with more than $8.2 billion of committed capital from leading entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions.

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