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Carlyle has enlisted Morgan Stanley to help sell the business,
two of the sources said, with another adding the sale process
would be launched this year. The sources could not be named
because details of the deal aren't public.
Carlyle declined to comment, while Morgan Stanley had no
immediate comment when contacted by Reuters. ADT Caps was not
immediately available for comment after regular business hours.
A former unit of Tyco International Inc, ADT Caps offers central
monitoring, access control, video surveillance control and other
integrated security services and was bought by Carlyle in an
auction for $1.93 billion in February 2014.
Affinity Equity Partners, Bain Capital, Carlyle Group, KKR and
South Korea's MBK Partners were among those to submit bids for
ADT Caps in 2014, which at the time was one of South Korea's
largest buyouts.
It is not clear how much ADT Caps is valued at now, but industry
sources say a private equity firm typically looks for a return
of at least twice its initial investment, which means a sale of
the business could potentially fetch around $4 billion.
The biggest recent transaction involving private equity in South
Korea was in September 2015, when Tesco sold Homeplus for $6.1
billion to a consortium led by MBK Partners.
(Reporting by Kane Wu; Additional reporting by Elzio Barreto in
Hong Kong and Hyunjoo Jin in Seoul; Editing by Alexander Smith
and Mark Potter)
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