Breakaway Capital Partners and Plexus Capital have provided $15 million of senior subordinated notes to IC Real Tech to fund the launch of a new video security product of the company.
IC Real Tech (ICRT) is a designer, developer and manufacturer of video surveillance systems – cameras, digital recording devices and accessories – which are designed to provide video capture, transmission, recording and playback. The company’s products are installed at over 100,000 customer sites worldwide. ICRT is based in Pompano Beach, FL (www.icrealtech.com).
ICRT will use the proceeds of the financing from Breakaway and Plexus to fund the launch of the IC 720° – a new camera which captures a 360-degree horizontally by 360-degree vertically field-of-view.
The IC Real Tech transaction represents Breakaway Capital Partners third investment in 2015 and follows Breakaway’s strategy to provide one-stop financing for lower-middle market companies, financial sponsors and independent sponsors.
Breakaway has approximately $50 million of committed capital under management and provides senior debt, subordinated and mezzanine debt, unitranche structures, structured equity and common equity to companies with up to $5 million of EBITDA. The firm targets leveraged buyouts, acquisitions, recapitalizations, restructurings and growth capital for both sponsored and non-sponsored transactions. Breakaway Capital Partners was founded by Warren Woo and is based in Los Angeles (www.breakawaycap.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-23-15
