Peterson Partners Exits Investment in Vivint
– Firm Part of One of the Largest Private Company Transactions in Utah History
– Blackstone Purchases Firm’s Entire Equity Ownership in Vivint
SALT LAKE CITY–(November 20, 2012)–Peterson Partners today announced that the firm has closed a successful exit of its investment in Vivint. Blackstone Capital Partners VI, L.P., a fund managed by Blackstone (BX) on behalf of its private equity investors, purchased the entirety of Peterson’s equity interest.
“We are extremely proud to be part of one of the largest private company transactions in the state of Utah,” said Dan Peterson, managing partner of Peterson Partners. “This transaction furthers our established track record of aligning with outstanding management teams to help build great businesses and accelerate growth. We feel fortunate to have been associated with such an extraordinary company.”
The acquisition includes three primary assets: Vivint, one of the largest home automation services companies and the second largest residential security services provider in North America; Vivint Solar, the fastest growing solar company in the United States using power purchase agreements to provide affordable solar solutions to residential consumers across North America; and 2GIG Technologies, which creates industry-leading security and automation equipment for the residential and small commercial markets.
The Vivint acquisition was announced on September 19, 2012. Blackstone acquired Vivint for in excess of $2 billion.
About Peterson Private Equity
Peterson Private Equity, located in Salt Lake City Utah, is the Private Equity group of Peterson Partners Inc. Peterson Private Equity is a middle market investor that is growth oriented, flexible, and has a long-term mindset. Over the past 11 years, Peterson has made investments across the United States, Canada, and Brazil. Peterson Partners Inc. is an independent investment management firm with assets under management across a variety of alternative asset classes. Peterson Partners and its affiliates have invested in over 150 companies, primarily in the US, but also Canada, Europe, Mexico, Brazil and India.