Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Apollo Funds Acquire ADT for $15 Billion
- Client News
- May 2, 2016
Paul, Weiss advised funds affiliated with Apollo Global Management, LLC on a recently completed merger with ADT Corporation.
ADT, a leading provider of monitored security, interactive home and business automation and related monitoring services in the U.S. and Canada, and Prime Security Services Borrower, LLC, a leading full-service business and home security company in the U.S. also owned by Apollo funds, announced February 16 that ADT and an Apollo funds portfolio company, Protection 1, had entered into a merger agreement under which ADT stockholders were entitled to receive $42 per share in cash in exchange for their shares of ADT common stock. The transaction had an aggregate value of approximately $15 billion. As a result of the transaction, ADT's common stock is no longer trading on the New York Stock Exchange and will be delisted. The headquarters of the combined company will remain in Boca Raton, Fla., and the combined company will operate primarily under the ADT brand.
The team was led by, among others, finance partner Gregory Ezring.