Known as the IO, Everon opened its Innovation and Operations HQ in Irving in 2024. [Photo: Everon]

Known as the IO, Everon opened its Innovation and Operations HQ in Irving in 2024. [Photo: Everon]

Irving-based Everon announced plans to acquire the multifamily business-to-business assets of ADT, extending the security company’s reach across apartment, student, and military housing sectors.  

The $55 million acquisition includes around 200,000 customer units, representing $2.6 million in monthly recurring revenue, MarketWatch reports. The deal is expected to close by the end of the third quarter.

The move follows a 2023 transaction in which private equity firm GTCR acquired ADT’s commercial division in a $1.6 billion deal and rebranded it as Everon, forming a standalone company focused on fire, life safety, video surveillance, and integrated commercial security systems.

Everon is a commercial security integrator that provides fire, video, and life safety solutions, the company said in a news release. It ranks as the third-largest security company in the U.S., according to SDM Magazine.

The acquisition brings ADT’s multifamily team and customer base under Everon, extending the company’s services across a market known for steady demand and low turnover.

Everon already provides fire and life safety services to multifamily clients nationwide. This acquisition adds capabilities in access control, video surveillance, and self-guided tour technologies—all designed to integrate with leading property management platforms.

Everon CEO Don Young called the move “a natural progression” in the company’s growth strategy, expanding its reach in a high-value segment. He said the deal positions Everon to offer more to multifamily customers—helping property owners and managers “increase net operating income, enhance security, and improve operational efficiency.”

Young, a longtime figure in the security and life safety business, was appointed CEO earlier this year. His four-decade career has included leadership roles at SecurityLink, ASG Security, HSM, STANLEY Security, Protection 1, and ADT.

The company said it supports more than 300,000 customer locations through a national network of over 100 branches and 5,000 employees, including 2,300 technicians. Its corporate offices and Innovation and Operations HQ—opened in 2024—are based in Irving.

Quincy Preston contributed to this report.

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