ADT to be Acquired by Thrive Holdings

Fried Frank is advising Citi and Goldman Sachs & Co. LLC as financial advisors to ADT on its agreement to be acquired by Thrive Holdings, a permanent capital holding company focused on investing in established businesses and advancing their capabilities through technology, in a transaction valuing ADT at approximately $7.6 billion in equity value and $15.3 billion in enterprise value.

The transaction brings together ADT's more than 150 years of security experience, nationwide service network and customer trust with Thrive Holdings' long-term capital and engineering capabilities. Following the closing of the transaction, ADT will form the foundation of Thrive Holdings' smart home security business. For more on the transaction, which is expected to close in in the first quarter of 2027, read ADT's press release.

This transaction is a continuation of Fried Frank's work advising leading financial institutions and banks as the financial advisors on high-value deals.

M&A and private equity partners Philip Richter and Roy Tannenbaum are leading the Fried Frank team, which includes M&A and private equity associate Morgan Smith.

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