Private equity firm Exponent is among a group of suitors considering a takeover of the UK arm of ADT, one of Britain’s largest providers of home security systems.
Sky News has learned that Exponent, which owns companies including Ambassador Theater Group, Big Bus Tours and newspaper publisher Racing Post, is considering buying the business from US owner Johnson Controls International (JCI).
The auction of the UK arm, run by Citi bankers, has attracted interest from a number of private equity buyers, according to City sources.
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An insider said the UK division, which is one of the biggest players in the UK market, could bring in around £150 million.
Other parts of ADT’s international operations are also sold by JCI.
In June, the company announced the sale of its Mexico unit to Verisure, the security systems group that went public this month in Stockholm.
Verisure raised around £3 billion from the sale of shares in the deal.
ADT’s international operations are held separately from its U.S. operations, which are part of New York-listed ADT.
Founded as American District Telegraph in 1874, ADT is one of the world’s oldest private security brands.
The exhibitor declined to comment.