Vivint and Blackstone have signed a definitive agreement under which a fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partner VI LP, will acquire Vivint from its existing shareholders, including Goldman Sachs, Peterson Partners, Jupiter Partners and other minority shareholders. The purchase price is in excess of $2 billion.
As part of the transaction, Blackstone will acquire Vivint Solar Inc., a provider of solar power purchase agreements for residential customers in North Amierca.
‘Vivint is the premier provider of home technology solutions – improving customers' lives with world-class home security, energy management, home automation and solar energy,’ says Peter Wallace, senior managing director at Blackstone. ‘We believe that the company is well positioned to capture significant share of emerging markets.’
It is expected that the transaction will close before year-end.