Case Study – Divestiture
Complete Protection, a wholly-owned subsidiary of Cincinnati Bell Inc. (NYSE: CBB), is the largest provider of residential alarm systems in Southeast Ohio. Complete Protection installs, monitors and services residential and commercial accounts throughout Ohio, Northern Kentucky and Indiana.
Situation:
-
Complete Protection which represented less than 1% of Cincinnati Bell’s $1.4 billion in annual revenue, was no longer considered core to Cincinnati Bell’s long-term strategic focus
Challenges:
-
Cincinnati Bell wished to run an accelerated process and close within 90 days of going to market
-
Finding a high-quality strategic partner was critical as all of Complete Protection’s customers would remain customers of Cincinnati Bell for wireline, internet, television and wireless services
Successful Solution:
-
Anderson LeNeave contacted a focused group of residential security alarm companies with an interest in Complete Protection’s geographic market and received 5 letters of intent
-
Complete Protection was sold to Guardian Alarm within 60 days of executing a letter of intent