Secure Home Holdings LLC and various affiliates, including My Alarm Center LLC
, which provides security and smart home automation to residential and small business customers throughout the United States, and ACA Security Systems, LP
, a customized home security services provider provider, filed for chapter 11 protection tonight in the Bankruptcy Court for the District of Delaware. The company reports $100 million to $500 million in both assets liabilities. The debtors are represented by Skadden, Arps, Slate, Meagher & Flom and Chipman Brown Cicero & Cole as co-counsel, M3 Advisory Partners as financial advisor and Raymond James & Associates as investment banker. KCC is the claims agent. The case number is 21-10745. For access to the relevant documents above as well as our First Day by Reorg team's coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities including the Secure Home Holdings chapter 11 filing Request a Trial here.
Board resolutions attached to the petition authorize the filing of a proposed plan of reorganization and disclosure statement and for the debtors to obtain $45 million of DIP financing, with Seaport Loan Products LLC as co-administrative agent and Acquiom Agency Services as co-administrative agent and collateral agent.
The debtors’ list of 30 largest unsecured creditors is led by Goldman Sachs Specialty Lending Group LP with a $34 million claim, Invesco Credit Partners Master Fund II, LP with a $15 million claim, Invesco Senior Floating Rate Fund with a $11.4 million claim, Woodforest National Bank with respect to a $6.8 million PPP loan, First Midwest National Bank with a $6.1 million claim and CIT Bank, N.A. with a $6 million claim.
The debtors’ equityholders include:
The affiliated debtors include ACA Security Systems GP, LLC
, ACA Security Systems, LP
, Hawk Creation, LLC
and My Alarm Center, LLC
Reorg First Day will provide a full summary once the first day briefing is complete.