Everon Bets on Multifamily Scale With ADT B2B Deal

Everon is moving to scale in multifamily with a definitive deal to acquire ADT’s multifamily business. The company said the transaction is expected to close at the end of the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

The announcement came the same day SimpliSafe agreed to be acquired by GTCR, Everon’s owner.

Everon already provides fire and life safety services to multifamily customers nationwide. The company said the acquisition extends that work and expands its ability to serve the broader B2B multifamily space with a portfolio that includes access control, video surveillance and self-guided tour capabilities that integrate with top property management software.

Everon CEO Don Young stated the agreement is a natural next step that expands the company’s reach in a valuable, low-attrition market. He added that the ADT multifamily team brings the expertise to deliver a “unique solution for property owners and managers” that can help increase net operating income, enhance security and improve operational efficiency.

“Completion of this acquisition will mean we can do even more for multifamily customers with industry-leading solutions and excellence in service delivery on a national scale,” Young said.

Lee Odess on what’s driving the deal

Access control industry authority Lee Odess, CEO of The Access Control Collective (TACC), said the move is “first and foremost about economics.” In his view, “The numbers work, the business has clear value and the upside is attractive.” He also underscored the human element, noting tight leadership circles in the industry and longstanding familiarity between Everon and ADT.

“While the press release naturally highlights solutions, customers and strategy, it is important to acknowledge that financial and human dynamics drive deals like this before anything else,” he said.

Odess said the transaction signals a shift in the multifamily segment of the security market. He described a historically fragmented landscape where most operators own only a few buildings and providers are largely local. National integrators, MSOs and cable companies have long aimed to reach the sector at scale, he said, but “it has not materialized.”

“Perhaps this is the moment it starts to happen,” Odess said. He also observed that some manufacturers are changing their posture, citing software-driven vertical efforts like Allegion’s Zentra as an example of how distribution models are being reshaped. “Power structures are shifting, and the chess pieces are moving,” he said.

Asked whether the deal is about scale and contracts or about multifamily security becoming a core operating system for owners and operators, Odess said it is both. Security has always served as a utility to keep bad actors out, he said, but it is now also seen as a driver of operational efficiency, revenue and tenant experience by “letting the right people in.” “It is evolving from a defensive posture to an enabler of business outcomes,” he said.

Implications for integrators and operators

For independent integrators, Odess cautioned against drawing “the sky is falling” conclusions. He said the customer base remains fragmented, which tempers the speed of supplier consolidation. He expects Everon to prioritize select markets rather than attempt a rapid national push, giving independents time to sharpen strategy.

“Some may see pressure, others opportunity through specialization or partnerships,” he said. “Over time, I believe multifamily will begin to resemble hospitality, with a blend of standardization at scale alongside niche service providers who include manufacturers doing it direct.”

Odess urged manufacturers, suppliers and service providers in the sector to reassess long-term plans. “If you are a manufacturer, supplier or service provider in this sector and you are not actively rethinking your five-year strategy with no attachment to how things have been done in the past, you are already late,” he said. “A massive riptide is underway. You will either shape it or be shaped by it.”

For developers and operators, Odess sees a favorable moment. “All bets are off, and you have the leverage to demand solutions that deliver trust, comfort, and long-term value,” he said. “The industry is evolving quickly, and those who can align with your needs, whether established players reinventing themselves or new entrants, are the ones who will win the next 30 years.”