Ironwood Capital has made an investment in SAFE Security, a provider of alarm monitoring services. OFS Capital Corporation was a co-investor in this transaction alongside Ironwood Capital.
SAFE provides alarm monitoring and related services to over 100,000 customers in all 50 states, Puerto Rico and Canada. The company – led by Chief Executive Officer Paul Sargenti – was founded in 1988 and is headquartered near San Francisco in San Ramon, CA (www.safesecurity.com). The company consistently ranks among the top 25 largest security alarm companies in the United States.
“Our extensive experience in the security alarm industry, combined with the quality of management, makes SAFE a good fit for us,” said Carolyn Galiette, President and Chief Investment Officer at Ironwood Capital.
Ironwood Capital provides non-control growth capital to middle market companies. Investments take the form of subordinated debt and preferred stock in amounts ranging from $5 million to $20 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. Ironwood Capital has more than 20 professionals and is headquartered in Avon, CT (www.ironwoodcap.com).
“SAFE’s established customer base, organic growth engine, growing dealer program and strong relationships with independent dealers is impressive. We like the team, we like their growth plan and we like the business trajectory,” said Roger Roche, Ironwood Capital Senior Managing Director.
OFS Capital (NASDAQ: OFS) is a business development company that invests from $3 million to $20 million of debt and minority equity in middle-market companies that have EBITDA of at least $3 million. Sectors of interest includes transportation & logistics; value-added distribution; business services; industrial & niche manufacturing; specialty chemicals; health care services; consumer products & services; aerospace & defense; franchising; and food & beverage. OFS has offices in Chicago, Los Angeles and New York (www.ofscapital.com).
Peter Flynn of specialty consulting firm SPP Advisors (www.sppadvisors.com) represented SAFE in the transaction.
© 2016 Private Equity Professional • 10-28-16
