West Palm Beach, FL – Comvest Partners (“Comvest”) is pleased to announce that it has completed the sale of Red Hawk Fire & Security (“Red Hawk”), a leader in commercial fire, life safety and security services, to ADT Inc. (NYSE: ADT), the leading provider of monitored security and interactive home and business automation solutions in the United States and Canada.
Headquartered in Boca Raton, Florida, Red Hawk was formed as an independent, unified fire and electronic security services brand to serve commercial customers after Comvest acquired the U.S. fire and security operations division of United Technologies Corporation in April 2012. Red Hawk leverages a robust platform to provide a differentiated fire and security solution across a diverse set of customers, markets, and geographies. Red Hawk’s market leading position has led to double-digit revenue growth and channel share increases in government, financial services, healthcare, and education end markets. Red Hawk employs approximately 1,300 individuals and serves more than 70,000 commercial facilities nationwide.
“We admire the Red Hawk team’s dedication to building and growing one of the premier leaders in the fire and security market,” said Roger Marrero, Managing Partner at Comvest. “We are grateful to have had such a collaborative and synergistic partnership with CEO Michael McWilliams, CFO Mark Foley, and the rest of the Red Hawk senior team, and strongly believe the Company is well positioned to continue building upon their industry-leading growth under ADT.”
“We are thrilled to have had partnered with Comvest as we worked together to expand Red Hawk’s capabilities and footprint,” said Red Hawk CEO Michael McWilliams. “We look forward to our future with ADT, which we are confident will help us to achieve our next phase of growth.”
Jefferies and Lincoln International acted as financial advisors and McDermott Will & Emery acted as legal advisor to Red Hawk in connection with the transaction. Raymond James served as financial advisor and Morgan, Lewis & Bockius LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to ADT.
About Red Hawk Fire & Security:
Red Hawk Fire & Security designs, installs, tests, inspects and maintains a broad portfolio of fire, life safety and security solutions using the latest technologies and advanced systems integration for enterprise level access control, video surveillance systems and physical security equipment. An industry leader with over 1,300 employees and a national footprint, the company serves more than 70,000 commercial facilities in financial services, retail, education, healthcare and manufacturing. Red Hawk Fire & Security is headquartered in Boca Raton, Florida. For more information, please visit www.redhawkus.com.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, Comvest Partners has invested over $3.9 billion in over 180 companies. Today, Comvest Partners’ funds have $3.3 billion of assets under management. Through its extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit www.comvest.com.
For more information, please contact:
Roger Marrero, Managing Partner, Comvest Partners – R.Marrero@comvest.com
Carlos Soto, Principal, Business Development, Comvest Partners – C.Soto@comvest.com