Irving-based Everon will acquire ADT’s multifamily business-to-business assets in a $55 million transaction, broadening its presence in apartment, student, and military housing markets.

The acquisition covers about 200,000 customer units, generating roughly $2.6 million in monthly recurring revenue, according to MarketWatch. The deal is expected to close by the end of the third quarter.

Background on the Companies

The move follows ADT’s divestiture of its commercial division in 2023. That business was acquired by private equity firm GTCR for $1.6 billion and rebranded as Everon. Today, Everon operates as an independent provider of fire, life safety, video surveillance, and integrated security systems.

According to SDM Magazine, Everon is the third-largest security company in the United States. It supports more than 300,000 customer locations nationwide through a network of 100 branches and about 5,000 employees, including 2,300 technicians. Its corporate offices and Innovation and Operations headquarters, launched in 2024, are located in Irving, Texas.

Details of the Acquisition

The transaction will bring ADT’s multifamily team and client base under Everon, extending its offerings across a sector known for stable demand and relatively low turnover. Everon already provides fire and life safety services to multifamily clients. This acquisition will expand its portfolio to include access control, video surveillance, and self-guided tour technologies that integrate with property management platforms.

Executive Perspective

Everon CEO Don Young described the acquisition as “a natural progression” in the company’s growth strategy. He added that the move strengthens Everon’s ability to help property owners and managers “increase net operating income, enhance security, and improve operational efficiency.”

Young, appointed CEO earlier this year, has more than four decades of industry experience. His previous leadership roles include positions at SecurityLink, ASG Security, HSM, STANLEY Security, Protection 1, and ADT.

—----------------------

If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.