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ADT (NYSE: ADT) to sell multifamily business assets for $55M cash

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

ADT Inc. is selling substantially all of the assets of its multifamily business to Everon, LLC for approximately $55,000,000 in cash, subject to customary adjustments. The business being sold serves about 200,000 multifamily customer units and generates roughly $2.6 million of recurring monthly revenue, covering apartment, student, military and other rental housing customers. The transaction is expected to close at the end of the third quarter of 2025. ADT will provide limited transition support services after closing and has agreed not to compete in the multifamily business, with certain exceptions, until after October 2, 2028.

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Insights

ADT plans a $55,000,000 sale of its multifamily business assets to Everon.

ADT Inc., through its subsidiary ADT LLC, agreed to sell substantially all assets used in its multifamily business to Everon, LLC for approximately $55,000,000 in cash, subject to customary purchase price adjustments. The assets include operations serving about 200,000 multifamily customer units and generating around $2.6 million in recurring monthly revenue, indicating a meaningful, though not quantified, revenue stream being transferred.

The agreement includes typical representations, warranties and covenants for a transaction of this type. ADT will provide transition support services on a limited basis after closing, which can help continuity for customers and the buyer as systems and operations are handed over. The transaction is currently expected to close at the end of the third quarter of 2025, though completion remains subject to the conditions in the asset purchase agreement.

A notable element is ADT’s commitment not to compete with Everon in the multifamily business, subject to specified exceptions, until after October 2, 2028. This non-compete provision defines ADT’s strategic positioning in this segment for several years, while Everon assumes the multifamily customer relationships and associated recurring revenue.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Understanding 8-K Material Events →
FALSE000170305600017030562025-09-122025-09-12


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 Date of Report (Date of earliest event reported): September 12, 2025
ADT Inc.
(Exact name of registrant as specified in its charter)
Delaware001-3835247-4116383
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
1501 Yamato Road
Boca Raton, Florida 33431
(Address of principal executive offices)
(561) 988-3600
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareADTNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 8.01 Other Information.
On September 12, 2025, ADT LLC, a Delaware limited liability company and wholly-owned subsidiary of ADT Inc., a Delaware corporation (the “Company”), entered into an asset purchase agreement (the “Purchase Agreement”) by and between ADT LLC and Everon, LLC, a Colorado limited liability company (“Purchaser”). Pursuant to the terms and subject to the conditions set forth in the Purchase Agreement, Purchaser has agreed to acquire substantially all of the assets (the “Assets”) used to operate the Company’s multifamily business, which includes sales to businesses that own or operate residential rental housing such as apartment buildings, townhomes, student housing, and military housing, among others, and consists of approximately 200,000 multifamily business customer units representing approximately $2.6 million of recurring monthly revenue in the aggregate (the “Transaction”).
The Transaction is currently expected to close at the end of the third quarter of 2025, and the purchase price to be paid in connection with the Transaction is approximately $55,000,000 in cash, subject to certain customary adjustments as set forth in the Purchase Agreement.

The Purchase Agreement contains representations, warranties and covenants related to the Assets and the Transaction, which the Company believes are customary for transactions of this type. The Company has agreed to provide the Purchaser with certain transition support services on a limited basis upon closing of the sale and has also agreed not to compete with the Purchaser with respect to the multifamily business, subject to certain exceptions, until after October 2, 2028.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:September 15, 2025ADT Inc.
By:/s/ Jeffrey Likosar
Jeffrey Likosar
President, Corporate Development and Transformation, and Chief Financial Officer

Source: View Original Filing on SEC EDGAR

FAQ

What transaction did ADT (ADT) disclose regarding its multifamily business?

ADT Inc. disclosed that its subsidiary ADT LLC entered into an asset purchase agreement with Everon, LLC under which Everon has agreed to acquire substantially all of the assets used to operate ADT’s multifamily business.

What is the purchase price for ADT’s multifamily business assets?

The purchase price for the multifamily business assets is approximately $55,000,000 in cash, subject to certain customary adjustments specified in the asset purchase agreement.

How large is ADT’s multifamily business in terms of customers and revenue?

The multifamily business being sold serves approximately 200,000 multifamily business customer units and generates around $2.6 million of recurring monthly revenue in the aggregate.

When is ADT’s sale of its multifamily business expected to close?

The transaction is currently expected to close at the end of the third quarter of 2025, subject to the conditions set forth in the asset purchase agreement.

Will ADT provide any support to Everon after the multifamily asset sale closes?

Yes. ADT has agreed to provide certain transition support services on a limited basis to Everon after the closing of the sale.

What non-compete restrictions did ADT agree to in connection with the sale?

ADT agreed not to compete with Everon in the multifamily business, subject to certain exceptions, until after October 2, 2028.