BOSTON, June 29, 2018 (GLOBE NEWSWIRE) -- SimpliSafe®, a leading provider of home security, today announced that funds affiliated with Hellman & Friedman LLC have entered into an agreement to join forces with CEO and Founder Chad Laurans to accelerate the company’s growth and expansion of the home security market.
The company’s award-winning security system and pioneering business model have propelled SimpliSafe to become one of the country’s largest and fastest growing home security providers, now protecting over two million Americans. SimpliSafe combines thoughtfully-designed technology with industry-leading professional monitoring and verification – all at fair and honest prices with no long-term contracts.
Chad Laurans, Founder and CEO of SimpliSafe, said: "Home security is at an inflection point. Despite the market’s growth, today still only 20% of homes are protected. With innovative technology, unparalleled service, and radically fair prices, SimpliSafe is rapidly making its vision of ‘every home secure’ a reality.”
In January 2018, SimpliSafe launched its third generation hardware line, a completely redesigned home security platform, positioning the company to offer a comprehensive array of security sensors, cameras, and smart home integrations. The All New SimpliSafe® has received widespread acclaim, being named “the best home security” solution by The Wirecutter, a New York Times company, and receiving the Editors’ Choice award from PC Magazine and CNET.
The transaction is expected to close in the third quarter of 2018, subject to the waiting period under the HSR Act and other customary closing conditions. Additional terms were not disclosed.
Qatalyst Partners and Raymond James Financial served as advisors to SimpliSafe on the transaction and Goodwin Procter LLP acted as legal counsel to SimpliSafe. Simpson Thacher & Bartlett LLP acted as legal counsel to Hellman & Friedman. Kirkland & Ellis LLP served as legal advisor to Sequoia Capital.
About SimpliSafe
SimpliSafe fundamentally changed the alarm industry, pioneering a new way to make home the safest place on earth for everyone. Founded in 2006, SimpliSafe was the first to offer homeowners professional-grade monitored home security with no long-term contracts and at radically fair prices. SimpliSafe now protects over 2 million people. The company remains committed to its founding goal: to make every home secure. For more information on SimpliSafe’s award-winning home security solutions, please visit www.simplisafe.com.
About Hellman & Friedman
Hellman & Friedman (“H&F”) is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised over $35 billion of committed capital. The firm focuses on investing in outstanding business franchises and serving as a value-added partner to management in select industries including consumer & retail, software & technology, internet & media, financial services, business & information services, healthcare and industrials & energy. For more information on Hellman & Friedman, please visit www.hf.com.
Media Contacts:
SimpliSafe
LaunchSquad
Molly Galler, 617-945-1915
mgaller@launchsquad.com
Hellman & Friedman
Abernathy MacGregor
Patrick Clifford, 212-371-5999
patrick.clifford@abmac.com