Carlyle said on Monday that it has agreed to pay $1.93 billion to buy South Korean security business ADT Korea from Tyco, the world’s largest pure-play fire protection and security firm.
The all-cash transaction is the largest private equity buyout deal in South Korea since 2008.
In the auction, which kicked off late last year, Carlyle beat out other private equity firms including Affinity, KKR, MBK and Bain, according to the people familiar with the situation.
“The Korean security services industry is under-penetrated, and growing awareness and needs for safety will anchor significant growth in the future,” said Sanghyun Lee, Managing Director...
¬ Haymarket Media Limited. All rights reserved.
