The new agreement is expected to improve the company’s overall profitability through a reduction in the up-front cost to acquire accounts while providing Skyline with an increased share of long-term revenues.
Brinks Home Security will take ownership of the alarm monitoring contracts through an earn out structure that includes a $10 million upfront payment and a 50-month earn out period.
The Brinks Company, rated No. 3 on the SDM 100, today announced that it has secured additional term loan financing of $590 million, which is expected to increase liquidity to approximately $1.5 billion upon closing.
Effective immediately, the company’s board of directors has named William Niles, Brinks’ chief transformation officer and general counsel, as interim chief executive officer.
