Kirkland Advises Thrive Holdings on $15.3 Billion Acquisition of ADT

Kirkland & Ellis advised Thrive Holdings, a permanent capital holding company focused on investing in established businesses and advancing their capabilities through technology, on a definitive agreement to acquire ADT (NYSE: ADT) in an all-cash transaction, which values ADT at approximately $7.6 billion in equity value and $15.3 billion in enterprise value. ADT is a leading provider of security, interactive and smart home solutions serving residential and small business customers. The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions, including approval by ADT’s stockholders and receipt of U.S. antitrust approval. 

Read the transaction press release

The Kirkland team included corporate lawyers David Feirstein, Christian Atwood, Patrick Salvo, Andrew Norwich, Natasha Shah and Ian Chang; debt finance lawyers Judson Oswald, Andrew Hurley, Kendra Armstrong, Emerson Almeida and Clare Azzopardi; capital markets lawyers Josh Korff, Julia Danforth, Alborz Tolou, Sean Choi and Lionel Schor; tax lawyers Lee Morlock and Steven Cantor; technology & IP transactions lawyers Seth Traxler, Amber Harezlak and John Blanchford; executive compensation lawyers Rohit Nafday, David Branham and Diana Soriano; and antitrust & competition lawyer Andrea Agathoklis Murino.