BOCA RATON, Fla.—Tyco is making progress in its planned split into three independent publicly traded companies. On March 28, the first day of ISC West, the company announced that it is rebranding ADT's North American commercial security business as Tyco Integrated Security.
BOSTON—BV Investment Partners, a private equity firm based here, is the new owner of DTT Surveillance, a provider of managed surveillance and business intelligence to the restaurant and hospitality industries, following a recapitalization announced March 15. The deal includes a $40 million credit from Capiltal One Bank.
HOLLYWOOD, Fla.—Devcon Security has a new CEO—its second in nearly three weeks.
Golden Gate Capital, which owns Devcon Security, announced this week that Steve Hafen, formerly COO at Pinnacle Security, is now CEO of Devcon, a super-regional based here.
The announcement is a dramatic reversal of one Golden Gate made on Feb. 29, in which it announced that former Protection 1 CEO Richard Ginsburg had been chosen as Devcon’s new CEO.
HOUSTON—A new patent and a just-closed $2 million deal with the San Francisco Municipal Transportation Agency is proof that BRS Labs is doing something “truly unique” that the marketplace will value, John Frazzini, president of BRS Labs, told Security Systems News, sister publication to Security Systems News.
DALLAS—Monitronics International has won Frost & Sullivan’s North American Company of the Year Award for 2011, making it three out of the past four years that the alarm monitoring firm has earned the honor.
Monitronics, which also won the award in 2008 and 2010, was praised for maximizing value to clients by expanding its customer service operations and streamlining internal processes, resulting in record-low attrition for the year.
PROVO, Utah—In a deal that includes 20 lenders, Vivint announced Feb. 29 that it has closed a new $762 million senior debt financing, $72 million more than the residential security and home automation provider’s previous financing.