Pinnacle Security announced on Tuesday that it has been acquired by the San Francisco-based equity firm Golden Gate Capital. Financial terms of the deal, which was done in conjunction with Pinnacleâ€™s management, have not yet been disclosed.
In a statement issued by the security company, Orem, Utah-based Pinnacle said that the partnership with Golden Gate Capital would improve the companyâ€™s growth and help it become a â€œmore diversified international security company.â€
"Were really excited about it," Pinnacle Chief Operations Officer Steve Hafen said of the new partnership."We feel like Golden Gate is a great partner for us because they understand the model, meaning the door-to-door sales model. They have investments in a number of other companies that are in the door-to-door industry and we just felt like itâ€™s a good partnership that allows us to continue to meet some of the goals we have as an organization around growth."
Pinnacle Security is a distributor of residential and commercial security systems. Focusing primarily on direct sales, the company has offices throughout major metropolitan areas in the U.S.