The Carlyle Group Agrees to Acquire ADT Korea from Tyco for $1.93 Billion

  The Carlyle Group Agrees to Acquire ADT Korea from Tyco for $1.93 Billion

 The Investment Underscores Carlyle’s Strong Commitment to the Korean Market

Business Wire

SEOUL, Korea -- March 3, 2014

Global alternative asset manager The Carlyle Group (NASDAQ:CG) has agreed to
acquire a 100% stake each in Tyco Fire & Security Services Korea Co. Ltd. and
its subsidiaries (ADT Caps Co., Ltd., Capstec Co., Ltd. and ADT Security Co.,
Ltd.) that form and operate the Company’s Korean security business (“ADT
Korea”), from Tyco (NYSE:TYC), the world’s largest pure-play fire protection
and security company, in a cash transaction valued at approximately $1.93
billion. The transaction is the largest private equity buyout deal in US
dollar value in Korea since 2008. The transaction is subject to customary
closing conditions including required regulatory approval and is expected to
close in the second quarter of 2014.

ADT Korea is a provider of advanced security solutions in Korea, serving
approximately 475,000 small-and-medium-sized businesses, commercial and
residential customers. The business provides central monitoring services, with
video surveillance and dispatch, access control and other customized security
solutions as well as guarding services. The business is headquartered in
Seoul, Korea, with approximately 7,500 employees and a nationwide network that
includes 69 branches.

Sanghyun Lee, Managing Director on the Carlyle Asia Buyout team, said, “ADT
Korea is a highly stable and profitable business with attractive market
positioning, strong brand power and excellent cash flow profile. We believe
the Korean security services industry is under-penetrated, and growing
awareness and needs for safety will anchor significant growth in the future.
Korea is one of the few countries in Asia that generate stable economic growth
along with consistent deal flow of large buyout transactions. Carlyle’s
investment in ADT Korea once again accentuates our long-standing commitment to
Korea since the establishment of Carlyle Korea in 1999.”

Cedric Bobo, Principal on the Carlyle US Buyout team, said, “This is a great
opportunity to create value by leveraging Carlyle’s deep industry expertise
and global network to support future growth and realize the Company’s full
potential as it transitions into a standalone company.”

George Oliver, Chief Executive Officer of Tyco, said, “ADT Korea is a healthy
and profitable business and a leader in the South Korean market, with a strong
management team and highly dedicated employees. We are grateful to them for
their contributions to Tyco and know they will continue to thrive within The
Carlyle Group.”

Equity for the transaction will come from Carlyle Asia Partners IV and Carlyle
Partners VI. Carlyle has invested more than $920 million of equity in 17
transactions in Korea as of December 31, 2013. Carlyle’s current and former
investments in Korea include KorAm Bank, Hyundai HCN, EO Technics, Tapex, and
Yakjin Trading.

The Carlyle Group has secured committed debt financing from Korea Exchange
Bank, Kookmin Bank, Industrial Bank of Korea, Korea Investment & Securities
and UBS AG. Clifford Chance and Lee & Ko are legal advisors to The Carlyle

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with
approximately $189 billion of assets under management across 118 funds and 100
fund of funds vehicles as of December 31, 2013. Carlyle's purpose is to invest
wisely and create value on behalf of its investors, many of whom are public
pensions. Carlyle invests across four segments – Corporate Private Equity,
Real Assets, Global Market Strategies and Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South America. Carlyle
has expertise in various industries, including: consumer & retail, energy,
financial services, aerospace, defense & government services, healthcare,
industrial, real estate, technology & business services, telecommunications &
media and transportation. The Carlyle Group employs more than 1,500 people in
34 offices across six continents.



Media contacts:
The Carlyle Group
Tammy Li
Phone: +852 2878 5236
Brian Zhou
Phone: +86 10 57067070
Ogilvy Public Relations, Korea
JH Yoo
Phone: +82 2 513 1552
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