Monitronics International Acquires 93,000 High Quality Subscriber Accounts

Ascent Capital Group, Inc. has announced that its subsidiary, Monitronics International, Inc., has acquired approximately 93,000 recently created subscriber accounts.

The recently acquired subscriber accounts for Monitronics represents $4.4 million of gross recurring monthly revenue (“RMR”) from Pinnacle Security for a purchase price of $131 million. Pinnacle is not responsible for post-acquisition attrition or service. The accounts have approximately 75% penetration of interactive services.

“We are pleased to have completed this significant transaction that will serve to drive strong growth in revenue, adjusted EBITDA and RMR,” said Mike Haislip, Chief Executive Officer of Monitronics. “We can integrate these accounts with significant operating leverage which will provide strong incremental cash flow. The quality of the acquired accounts and the high rate of interactive service penetration also make these an attractive addition to our portfolio. Further, as part of the transaction, Monitronics and Pinnacle have established a continuing relationship which should augment our ongoing account creation for several years to come.”

Monitronics used its existing revolving credit facility and issued $30 million of incremental Term B debt to fund the acquisition. The Company expects to refinance the revolver through a new Senior Secured Term B offering.

  • The Z-Wave Alliance Focuses on the Residential Market The Z-Wave Alliance Focuses on the Residential Market

    Mitchell Klein serves as the executive director of the Z-Wave Alliance, an industry organization that drives numerous initiatives to expand and accelerate the global adoption of smart home and smart cities applications. In this Podcast, we talk about the 2022 State of the Ecosystem, and the fact that technology has brought about almost unimaginable residential security resources. The Alliance also provides education resources as well as looking at expanding technology.

Digital Edition

  • Security Today Magazine - May June 2022

    May / June 2022

    Featuring:

    • The Ying and Yang of Security
    • Installing Smart Systems
    • Leveraging Surveillance
    • Using Mobile Data
    • RIP Covid-19

    View This Issue

  • Environmental Protection
  • Occupational Health & Safety
  • Infrastructure Solutions Group
  • Spaces4Learning
  • Campus Security & Life Safety