Security firm ADT’s commercial unit to be taken private by GTCR for $1.6 billion By Reuters

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<span>© Reuters. FILE PHOTO: A security sign for ADT is seen outside a home in Port Washington, New York, September 30, 2014. REUTERS/Shannon Stapleton/File Photo</span><br />
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<p>(Reuters) – Home and small business security firm ADT said on Tuesday it will sell its commercial security, fire and life safety unit to private equity firm GTCR for $1.6 billion.</p>
<p>ADT expects to use the net proceeds of about $1.5 billion from the deal to cut debt. Its shares rose as much as 1.3% in premarket trading.</p>
<p>“This transaction is mutually beneficial for ADT and ADT Commercial, which will benefit from GTCR’s support and expertise,” ADT CEO Jim DeVries said. </p>
<p>The sale is expected to close in the fourth quarter of 2023. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/security-firm-adts-commercial-unit-to-be-taken-private-by-gtcr-for-16-billion-3148087">Source link </a></p><p>The post <a href="https://forextraderhub.com/security-firm-adts-commercial-unit-to-be-taken-private-by-gtcr-for-1-6-billion-by-reuters.html">Security firm ADT’s commercial unit to be taken private by GTCR for $1.6 billion By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>