After filing for Chapter 11 bankruptcy protection in April, My Alarm Center announced on Friday that it has it has successfully completed its debt restructuring process.
In a statement provided to SecurityInfoWatch.com (SIW), a spokesperson for the company said that it has honored its commitments to its business partners, employees, and customers throughout the restructuring process. Additionally, My Alarm Center said the completion of its deleveraging and recapitalization transaction has provided it with significant available capital to scale its organic sales, restart acquisition programs through it acquisition vehicle – Alarm Capital Alliance – and execute on its long-term strategic growth plans.
“The company is backed by strong new ownership including funds managed by Invesco as controlling shareholder. Our new owners share the management team’s strategic vision of continuing our core mission to provide an outstanding experience for all of our partners, customers, and employees as well as growing the business through the creation of high-quality profitable accounts,” CEO Amy Kothari said in a statement.
My Alarm Center is the seventh largest residential home security provider in the U.S. and has a strong geographic footprint in variety of locations across the country, including Atlanta, Dallas, Fort Worth, Houston, San Antonio, Los Angeles, Seattle, and the Philadelphia Tri-State area. The company said it plans to immediately start looking at residential home security acquisitions in these and other territories where it has a sizable footprint.