Security Sales July 2021 - 12

INDUSTRY PULSE NEWS
My Alarm Center Emerges
From Chapter 11
▶ NEWTOWN SQUARE, Pa. - Secure
Home Holdings - which operates fi ve
affi liates including nationwide security
provider My Alarm Center - has successfully
completed a deleveraging and
recapitalization transaction. Secure Home
Holdings fi led for Chapter 11 protection in
Delaware in April. Completion of the restructuring
plan makes available the capital
to considerably scale the company's
organic sales engine, restart its acquisition
programs and execute on other longterm
plans for strategic growth, according
to an announcement.
The company previously stated that all
its senior lenders and other key stakeholders
agreed to support a prepackaged plan
of
reorganization to eliminate approximately
$235 million of legacy debt obligations.
The company received commitments
from its senior lenders for $15 million of
fresh capital to continue providing uninterrupted
service to its customers during the
restructuring, while also meeting its fi nancial
obligations to vendors and employees.
My Alarm
Center's
other
security
brands are Alarm Monitoring Service of
Atlanta; Fort Worth, Texas-based Hawk
Vivint Appoints Pedersen's
Replacement as CEO
▶ PROVO, Utah - Vivint Smart Home has
appointed David Bywater to replace Todd
Pedersen as CEO and become a member
of the board of directors. As previously
announced, Pedersen will remain a board
director. Pedersen, an SSI Industry Hall
of Famer, founded the company in 1999
as APX Alarm, then rebranded it Vivint in
2010. About a year later global investment
business Blackstone Group paid $2 billion
for the company.
Bywater has 25 years of senior leadership
experience across several consumer-facing
technology companies. He
served as CEO of Vivint Solar, where he
oversaw signifi cant effi ciency gains across
12
Security Services; Los Angeles-based ACS
Security; and DIY wireless systems provider
LivSecure.
" 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 profi table accounts, " states
CEO Amy Kothari.
My Alarm Center has been a leader in
acquisitions of accounts and businesses
in the residential home security industry
for more than 20 years. The company's
acquisition vehicle, Alarm Capital Alliance,
focuses on small and midsized security
companies.
The announcement states the company
expects to soon execute on several acquisitions
focusing on regions where it has
a strong geographic footprint, including
the Philadelphia Tri-State area, Atlanta,
Dallas/Fort Worth, Houston, San Antonio,
L.A. and Seattle.
in Vivint Solar becoming a wholly owned
subsidiary of Sunrun.
Following the completion of the merger,
he continued to serve as the CEO of
Sunrun's Vivint Solar subsidiary until April
2021 to ensure a smooth transition. Before
joining Vivint Solar, Bywater served
as COO at Vivint Smart Home, and was responsible
for customer operations, human
resources, fi eld service and supply chain
management. Prior to his time with Vivint
Smart Home, he held executive positions
at Xerox and Affi liated Computer Services.
Bywater will also resign from Sunrun's
board of directors and from his role as a
strategic advisor to the company; however,
Vivint Smart Home and Sunrun will
continue their relationship as partners, an
announcement states.
Research: DIY Security Installs
Continue Steady Rise
▶ DALLAS - New research from Parks
Associates fi nds self-installation of newly
acquired security systems reached 55% in
Q2 2020, up from 40% in 2018, an increase
of nearly 40%. The fi rm's latest whitepaper,
Home Security: A Redefi ned Market,
fi nds the rise of interactive services and
DIY installation are two key trends defi ning
the home security market, accelerated
by the COVID-19 pandemic, lower prices
and new smart home solutions.
" The installation method for newly acquired
security systems and smart home
devices has trended towards self-installation
for several years, and COVID-19 has
hastened that transition, " says Amanda
Kung, researcher, Parks Associates.
" About one-third of security system owners
and intenders report COVID-19 concerns
caused them to avoid professional
installers due to the discomfort of having
a stranger in the home. "
Approximately two-thirds of
securiDavid
Bywater
the company's installation processes and
a rationalization of its cost basis, as well
as the successful execution of its merger
transaction with Sunrun, which resulted
Security Sales & Integration JULY 2021
ty system owners, or about 20 million
households, have an interactive security
system, and consumers expect their security
systems to provide basic interactivity
that enables them to receive notifi cations
and access and control the system remotely,
according to Parks Associates.
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Security Sales July 2021

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