The Beekman Group has acquired NorthStar Alarm Services, a residential security alarm provider. Beekman partnered with NorthStar’s founder, Jason Christensen, and the current management team, who will continue to lead the company and maintain a significant ownership interest.
“I am extremely excited to partner with The Beekman Group to pursue the next phase of growth for NorthStar. Beekman has a strong track record of partnering with management teams to support the growth initiatives of middle market companies and its industry partner relationships have significant expertise in the residential alarm monitoring industry, having supported the growth of numerous successful platforms,” said Mr. Christensen.
Beekman’s investment in Northstar was made through the firm’s second fund, Beekman Investment Partners II, which closed in January 2013 with $100 million in commitments.
NorthStar Alarm Services is a residential security alarm provider and authorized dealer of Honeywell Security Products. Service offerings include intrusion alarms, fire alarms, video surveillance, life-safety devices and home automation products. NorthStar generates alarm contracts through an internal sales force, which is complemented by a 24-7 support staff, and a team of technicians and consultants. The company was founded in 2000 and is headquartered in Orem, UT (www.northstaralarm.com).
“The Beekman team has been interested in the security alarm industry for several years and we found an extremely attractive platform in NorthStar. We are excited to partner with NorthStar’s management team and value not only the successful growth already achieved, but the culture of integrity, accountability and service that Jason has built from top to bottom in the organization,” said John Troiano, Beekman’s Managing Partner and CEO.
The Beekman Group makes control investments from $5 million to $25 million in privately held companies, family businesses in transition, operating divisions of large companies or small public entities interested in privatization. Typical acquisitions have revenues from $10 million to $200 million. The firm’s investment team is led by Mr. Troiano, formerly with Onex Corporation, and by Managing Directors Andrew Marolda and Andrew Brown. The Beekman Group is based in New York (www.thebeekmangroup.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-17-13
