Calif. firm buys controlling stake in Vienna home security company
Twin Point Capital purchased controlling share of Frontpoint Security
Palo Alto, California-based investment firm Twin Point Capital purchased a controlling stake in Vienna-based home security company Frontpoint Security, the company announced last week.
Financial terms of the transaction were not disclosed.
Founded in 2007 by Chris Villar, Aaron Shumaker and Peter Rogers, Frontpoint provides home security, life safety and smart home products and services through fully integrated software on the company’s app.
“The Twin Point team has a long history of successfully helping management teams achieve their goals by providing both investment capital and strategic guidance,” Frontpoint CEO Syed K. Zaidi said in a statement. “This investment will enable Frontpoint to provide even higher levels of reliability, technological innovation and outstanding customer service. We are confident that this new partnership will be highly beneficial to the families that trust Frontpoint to protect what is most important to them.”
Raymond James & Associates Inc. served as Frontpoint’s financial adviser and Berger Singerman LLP provided legal counsel. DLA Piper provided legal counsel to Twin Point in the transaction.