Joele Frank handles Vivint Smart Home as it agrees to be acquired by NRG Energy in a deal valued at $5.2B.
Provo-based Vivint provides integrated home security systems and monitoring services to 1.9M customers throughout the US.
Houston-headquartered NRG powers more than 6M homes/businesses in 24 states and eight Canadian provinces.
CEO Mauricio Gutierrez called the acquisition of Vivint “transformational” as an important part of his company’s plan to supply an array of essential home services to customers.
He said people “want simple, connected and customized experiences that provide peace of mind. Vivint’s smart home technology strengthens our retail platform, improves our customer experience and increases customer lifetime value.”
NRG’s $12 per-share offer represents a 33 percent premium over Vivint’s Dec. 5 closing stock price.
The transaction consists of $2.8B cash and the assumption of $2.4B in debt.
Joele Frank, Wilkinson Brimmer Katcher’s Ed Trissel, Joseph Sala and Kara Sperry represent Vivint.