Apollo Agrees to Buy and Combine Protection 1, ASG Security
May 20, 2015
Apollo Global Management has signed definitive agreements to acquire Protection 1 and ASG Security. The two companies will be combined by Apollo and will continue operating under the Protection 1 brand. Serving nearly 2 million customers and employing over 3,500 people, Protection 1 provides installation, maintenance and monitoring of single-family home, business and multifamily security systems.
With more than 214,000 customers, ASG designs, installs, monitors and services security systems for the commercial/industrial, government and residential market sectors. Protection 1 and ASG generate a combined $40 million in monthly recurring revenue and total annual revenue in excess of $500 million. The deal, which is expected to close in mid-2015, has been previously rumored to be worth approximately $1.5 billion.