Periscope Equity has made an investment in CISCOR, a provider of monitoring, notification and emergency call services to the assisted living facility market.
CISCOR’s assisted living facility products include wireless resident pendants, active and passive resident check-in, smoke alarms, door alarms, bed- and chair-exit sensors, incontinence sensors, motion detectors, equipment monitoring, and other custom devices. CISCOR was founded in 1982 and is headquartered south of Oklahoma City in Norman, OK (www.ciscor.com).
“The CISCOR team has built an exceptional business that is mission-critical to its senior living facility customers, evidenced by the fact that the company has tripled in size over the last seven years,” said Steve Jarmel, Partner at Periscope Equity. “We intend to advance that momentum by continuing to invest in research, manufacturing, technology and expanding CISCOR’s product line.”
Kian Capital (www.kiancapital.com) and Tecum Capital Partners (formerly F.N.B. Capital Partners) (www.tecum.com) provided subordinated debt and made an equity co-investment for this transaction. First Merchants Bank (www.firstmerchants.com) provided the senior financing.
Periscope Equity invests from $5 million to $15 million in companies with revenues from $10 million to $40 million and EBITDAs from $2 million to $5 million. Sectors of interest include marketing services, security services, software as a service, healthcare services, and business process outsourcing. The firm was founded by Steve Jarmel in January 2013 and is headquartered in Chicago (www.periscopeequity.com).
“We chose to partner with Periscope Equity because from our first meeting, the team demonstrated a commitment to forging a true partnership to drive CISCOR’s next stage of growth,” said Sam Youngwirth, President of CISCOR. “We are excited for the opportunity to tap into Periscope’s operational expertise and industry experience.”
© 2016 Private Equity Professional • 9-15-16
