Monitronics

Last updated
Monitronics International, Inc. - Brinks Home
FormerlyMONI Smart Security, SafeMart, LiveWatch
Type Public
OTCQX:  SCTY
IndustryHome security services
Founded1994
Headquarters Dallas, Texas
Key people
William E. Niles (CEO from March 2020) [1]
RevenueIncrease2.svg $505 Million(2019) [2]
Number of employees
1,200
Website www.brinkshome.com

Monitronics International, Inc. (doing business as Brinks Home) is an American company that offers home security systems.

Contents

Brink's had a business line in home security named Brinks Home Security that accounted for 15% of Brinks revenue in 2008; it decided that year to spin the business off, in order to focus on its other businesses. [3] The company was rebranded as Broadview Security in 2009 with a massive and controversial advertising campaign. [3] In 2010 Broadview Security was merged into ADT, which became a standalone company in 2011. [4] [5]

History

Monitronics International was founded in Dallas in 1994 to provide alarm monitoring services to U.S. customers and businesses, as well as financing, technical training and product solutions[ clarification needed ] to dealers within the industry. [6] It was funded mostly by ABRY Partners until it was sold to Ascent Media in December 2010. [7] As of 2015, it was the second largest security alarm monitoring company in the United States, behind ADT. [8]

In 2013, MONI purchased Security Networks, a network of about 225 security dealers, for $507 million to diversify its service offerings and enter into the developing and complementary DIY home service category. [9]

In 2015, Monitronics acquired LiveWatch, a Kansas-based company that sold security alarm and home automation systems for DIY installation. [8] The company was founded in 2002 under the name Safemart by Chris Johnson, a former Kansas paramedic. Initially, SafeMart distributed home security products from third-party manufacturers. In 2010, Johnson hired CEO Brad Morehead. [10] By 2015, the company had grown to have 180 employees and had around 200,000 customers in the United States, and was acquired by Monitronics for $67 million. [8]

In 2016, Monitronics International changed its name to Moni; along with it, its logo and other style elements were changed. [11]

In 2018, Brinks re-entered the home security business through a trademark licensing deal, re-creating the "Brinks Home Security" brand. [12] [13]

The trademark deal was done with Moni, a US private company headquartered in Farmers Branch, Texas that sells home security company systems that can be self-installed or professionally installed. [8]

In February 2018, Moni exclusively licensed its trademarks and businesses to Brinks, which resulted in a rebranding of Moni and LiveWatch as Brinks Home Security. [12]

In 2019, Monitronics filed for a voluntary Chapter 11 bankruptcy. [14]

In June 2020, Moni acquired Protect America for $15 million in upfront costs. [15]

On May 15, 2023, Monitronics filed for Chapter 11 bankruptcy for the second time in four years. [16]

Related Research Articles

<span class="mw-page-title-main">Bosch (company)</span> German conglomerate

Robert Bosch GmbH, commonly known as Bosch, is a German multinational engineering and technology company headquartered in Gerlingen, Germany. The company was founded by Robert Bosch in Stuttgart in 1886. Bosch is 94% owned by Robert Bosch Stiftung, a charitable institution. Although the charity is funded by owning the vast majority of shares, it has no voting rights and is involved in health and social causes unrelated to Bosch's business.

Tyco International plc was a security systems company incorporated in the Republic of Ireland, with operational headquarters in Princeton, New Jersey, United States. Tyco International was composed of two major business segments: security solutions and fire protection.

Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products. Headquartered in the greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of Stanley Works and Black & Decker on March 12, 2010.

<span class="mw-page-title-main">ADT Inc.</span> American security systems firm

ADT Inc., formerly The ADT Corporation, is an American company that provides residential, small and large business electronic security, fire protection, and other related alarm monitoring services throughout the United States. The corporate head office is located in Boca Raton, Florida. In February 2016, the company was acquired by Apollo Global Management for $6.9 billion in a leveraged buyout. In January 2018, the company went public on the New York Stock Exchange.

<span class="mw-page-title-main">Johnson Controls</span> Building systems and facility management firm based in Cork, Ireland

Johnson Controls International is an American Irish-domiciled multinational conglomerate headquartered in Cork, Ireland, that produces fire, HVAC, and security equipment for buildings. As of mid-2019, it employed 105,000 people in around 2,000 locations across six continents. In 2017 it was listed as 389th in the Fortune Global 500. It became ineligible for the Fortune 500 in subsequent years since it relocated its headquarters outside the U.S.

Tyco Toys was an American toy manufacturer. It was acquired by Mattel in 1997.

<span class="mw-page-title-main">Brink's</span> Security company

The Brink's Company is an American private security and protection company headquartered outside Richmond, Virginia. Its core business is Brink's Inc.; its sister brand Brink's Home Security company operates separately and is headquartered in Dallas, Texas. In 2013, its international network served customers in more than 100 countries and employed approximately 134,000 people. Operations include approximately 1,100 facilities, and 13,300 vehicles. The company emerged from the Pittston Company and changed its name to the Brink's Company in 2003.

<span class="mw-page-title-main">CIT Group</span> American banking and financial services company

CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring, cash management, treasury management, mortgage loans, Small Business Administration loans, leasing, and advisory services principally to individuals, middle-market companies and small businesses, primarily in North America. Under the reporting mark CEFX, it leases locomotives and railroad cars to rail transport and shipping companies in North America. It also operates a direct bank.

<span class="mw-page-title-main">Home security</span> Set of practices to protect homes against crime

Home security includes both the security hardware placed on a property and individuals' personal security practices. Security hardware includes doors, locks, alarm systems, lighting, motion detectors, and security camera systems. Personal security involves practices like ensuring doors are locked, alarms are activated, owning a Dog, windows are closed, and extra keys are not hidden outside.

Ascent Capital Group, Inc. is a public holding company whose primary subsidiary is Monitronics. Ascent Media was a wholly owned subsidiary of the Discovery Holding Company (DHC). DHC spun off Ascent Media as an independent, public company on September 17, 2008.

<span class="mw-page-title-main">Mace Security International</span>

Mace Security International, Inc. a US-based company that specializes in producing personal safety and security products. Their product line includes popular items such as Mace pepper spray, stun guns, personal alarms, and law enforcement and private security equipment.

Autocall is a company that specializes in fire protection and customized communications equipment. The original company was founded in 1908 and was based in Shelby, Ohio. The Autocall brand became defunct in 2001 after it was incorporated into the SimplexGrinnell merger by Tyco International. On September 6, 2016, Johnson Controls and Tyco completed a merger, and Johnson Controls relaunched the Autocall brand in late 2017.

Grinnell Mechanical Products, a brand of Tyco International Ltd., manufactures grooved piping and mechanical products. Grinnell Mechanical Products specializes in mechanical, fire, HVAC, commercial, mining, institutional and industrial applications. Grinnell grooved products are used in various industries because they are historically more efficient than flanged, welded, and threaded pipe joining methods. Key product lines include grooved couplings and fittings, G-PRESS systems, strainers, stainless steel systems, copper systems, and G-MINE PVC systems. Grinnell Mechanical Products offers mechanical services used for supporting engineering and design. These include 2D and 3D drawings for the mechanical room and design suggestions and easy to follow installation drawings with legends for each pump.

Vivint Smart Home, Inc. is a smart home company in the United States and Canada, and a subsidiary of NRG Energy. It was founded by Keith Nellesen and Todd Pedersen in 1999.

<span class="mw-page-title-main">Alarm.com</span> American security company

Alarm.com, Inc is an American technology company that provides cloud based services for remote control, home automation and monitoring services.

<span class="mw-page-title-main">Google Nest</span> Brand of smart home products by Google

Google Nest is a line of smart home products including smart speakers, smart displays, streaming devices, thermostats, smoke detectors, routers and security systems including smart doorbells, cameras and smart locks.

<span class="mw-page-title-main">Ring (company)</span> Home security products manufacturer

Ring LLC is a manufacturer of home security and smart home devices. It manufactures a titular line of smart doorbells, home security cameras, and alarm systems. It also operates Neighbors, a social network that allows users to discuss local safety and security issues, and share footage captured with Ring products. Via Neighbors, Ring may also provide footage and data to law enforcement agencies to assist in investigations.

Tyco Integrated Security is a business unit of Tyco International. It is a company specializing in electronic security products, installation and services. The company's principal place of business in the US is Boca Raton, Florida; and Mississauga Ontario in Canada with over 10,000 employees and nearly 200 offices throughout North America.

<span class="mw-page-title-main">Vector Security</span>

Vector Security, Inc. is the fourth largest electronic security company in the United States. They provide commercial and residential electronic mobile security and automation solutions, video surveillance, access control, and fire and intrusion protection across the United States and Canada. Through Vector Security Networks, a division of Vector Security, Inc., they also provide managed network services to multi-site businesses. The corporate office is located in Warrendale, Pennsylvania.

<span class="mw-page-title-main">Protect America</span> American home security company

Protect America was a home security company based in Austin, Texas.

References

  1. "DI People: Cinemark, Brinks Home Security, Medical City Children's Make Leadership Announcements". Dallas Innovates. D Magazine. Retrieved 6 April 2020.
  2. "Monitronics Revenue 2017-2020 | SCTY | MacroTrends".
  3. 1 2 Burkitt, Laurie (30 June 2009). "Brink's $120 Million Name Change". Forbes.
  4. "Tyco to Acquire Broadview Security for $1.9 Billion". New York Times DealBook. January 18, 2010.
  5. Merced, Michael J. de la (September 19, 2011). "Tyco to Split Itself in 3, Hoping for More Value". New York Times DealBook.
  6. Romano, Jay (April 1, 2007). "Security Systems: Your Eyes and Ears". The New York Times.
  7. "Ascent Media Corporation Acquires Monitronics". The Wall Street Journal. Dec 17, 2010. Retrieved March 15, 2011.
  8. 1 2 3 4 Pletz, John (March 24, 2015). "Industry giant buys Evanston home security firm for $67 million". Crain's Chicago Business.
  9. Bosch, Rodney. "Analysts Are Bullish on Monitronics' $507M Deal for Security Networks". www.securitysales.com. Retrieved 2016-07-18.
  10. Hendershot, Steve (April 16, 2013). "An Orbitz for Home Security". Crain's Chicago Business.
  11. "Monitronics changes its name". www.securitysystemsnews.com. Archived from the original on 2016-10-03. Retrieved 2021-03-04.
  12. 1 2 Bosch, Rodney (28 February 2018). "MONI CEO on Bringing Brinks Branding Back". Security Sales & Integration.
  13. "BRIEF-Brink's Announces Brand Licensing Agreement With Moni Smart..." Reuters. February 26, 2018.
  14. "Firm behind Brinks Home Security files voluntary bankruptcy to restructure debt". Dallas News. July 1, 2019. Retrieved April 30, 2023.
  15. "Brinks Home Security Announces Bulk Acquisition of Residential Alarm Monitoring Contracts". Brinks Home Security. Retrieved 2021-04-11.
  16. "Monitronics files for bankruptcy again ahead of 2024 maturities". Bloomberg Law. May 15, 2023. Retrieved May 15, 2023.