The company has one of the nation’s largest networks of independent authorized dealers and agents – providing products and support to customers in the U.S., Canada, and Puerto Rico – as well as direct-to-consumer sales of DIY and professionally installed products. Headquartered in the Dallas-Fort Worth area, Brinks Home Security secures over 900,000 residential and commercial customers through highly responsive, simple security solutions backed by expertly trained professionals. Imperial Capital served as the exclusive financial advisor to Brinks Home Security in the transaction.īrinks Home Security (OTC: SCTY) is one of the largest home security and alarm monitoring companies in North America. We are also excited to expand our footprint into the large commercial security segment and to bring Brinks Home Security’s high-touch customer service to the entire Select Security customer base.” I look forward to integrating them into our customer-centric culture that serves as the guiding force behind all key decisions in our organization. “I am also thrilled to welcome the Select Security sales organization, technicians and customer care employees to the Brinks Home Security family. “We are excited about the value this transaction creates and its alignment with our core objective of “ creating profitable accounts at scale and holding for life”, while also opening the door for similar opportunities in the future,” said Brinks Home Security Chief Executive Officer, William Niles. For 90 days following close, the seller will provide certain transition services to Brinks Home Security, and following the transition period, Brinks Home Security will manage all aspects of the customer experience. In addition to the accounts, Brinks Home Security is retaining the majority of Select Security’s Commercial Sales, Field Technicians, and Customer Service employees, as well as certain office locations to offer the highest level of service to these customers. Title to the Accounts will be transferred from the SPV to Brinks Home Security periodically during the Earn Out Period with title to all Accounts transferred by Month 50. Per the terms of the transaction, the seller will transfer title to all accounts to a Special Purpose Vehicle (“SPV”). Brinks Home Security will take ownership of the alarm monitoring contracts through an earn out structure that includes a $10 million upfront payment and a 50-month earn out period (“Earn Out Period”). and its subsidiaries (doing business as Brinks Home Security®), (“Brinks Home Security” or the “Company”) (OTC: SCTY) today announced that it has acquired approximately 30,000 residential and small business and 8,000 large commercial alarm monitoring contracts from Select Security (the “seller”) totaling approximately $2.0 million in recurring monthly revenue (“RMR”). 24, 2020 (GLOBE NEWSWIRE) - Monitronics International, Inc. Similarly, the maintenance service ensures durability and reliability of the alarm system.Transaction Further Validates Low Cost Earn Out Structure, Largely Mitigating Attrition RiskĭALLAS-FORT WORTH, Texas, Dec. Through its monthly subscription, the 'Brink's Home Security' solution is the perfect combination to allow individuals to enjoy all the benefits of a formula that includes remote monitoring and intervention patrols, which are now indispensable services for an optimal security. * Installation of equipment will be ensure by Brink's technicians and invoiced at a separate cost. In option: Smartphone Connection | Home Automation | Sound & Images Check | Preventive Patrols A maintenance service for a lasting reliability of the equipment.
A monthly subscription to Brink's monitoring and intervention 24h24 / 7d7, for optimal security.5 years long term rental (or 3 years with revised monthy price).
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