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THE INVESTOR
June 21, 2018
Big Reunion

Deals

Carlyle to start talks on ADT Caps sale soon

  • PUBLISHED :August 24, 2017 - 15:25
  • UPDATED :August 25, 2017 - 15:10
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[THE INVESTOR] US asset management firm Carlyle Group is speeding up its planned sale of ADT Caps, the nation’s No. 2 security firm that it acquired in 2014, The Bell reported on Aug. 24.

The report said Carlyle has recently set a trading date with its deal adviser Morgan Stanley. 




Carlyle is said to have initially pursued a private deal with strategic investors such as KT Telecom but failed to find a suitable buyer and has now pivoted to an open competitive bidding.

Carlyle acquired ADT Caps from US-based Tyco for US$1.93 billion, then the largest-ever private equity buyout deal in Korea since 2008. The firm allegedly aims to receive at least 2.5 trillion won through the sale of its 100 percent stake in the company.

Since the acquisition, ADT Caps saw its sales grow from less than 600 billion won in 2014 to 700 billion won last year. Earnings before amortization, which is the basis of M&A valuation, also rose nearly 50 percent to 250 billion won during the same period.

By Alex Lee (alexlee@heraldcorp.com)

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