Windjammer Buys Vital Records
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Windjammer Buys Vital Records

Windjammer Capital Investors has acquired Vital Records Control in partnership with CEO Danny Palo and other members of the company’s senior management team.

Vital Records Control (VRC) provides information management services including offsite records storage, open-file records storage, climate controlled storage, release of information services (on-site or off-site), vaulting services for media backups, electronic vaulting, destruction services including mobile shredding, imaging services including microfilming, records inventorying/indexing services, and packing services on-site at the customer’s location.

VRC services hundreds of Fortune 500 companies and thousands of regional, state, and local companies throughout the country with a concentration in the southeastern US. The company, founded in 1988, is headquartered in Memphis (www.vitalrecordscontrol.com).

“VRC’s management team built a well-respected business in its markets which has grown steadily over the past 25 years,” said Jeff Miehe, Managing Director at Windjammer. “VRC’s high levels of customer service and its leading technology platform have enabled it to develop leading positions in mid-size markets throughout the Southeast.  We are extremely excited about the opportunity to partner with CEO Danny Palo and VRC’s management team.”

Windjammer makes control investments of $50 million to $200 million in middle market businesses with EBITDAs from $10 million to $50 million. Sectors of interest include niche manufacturing, value-added distribution and business services.  Windjammer is currently investing from its $726 million Windjammer Senior Equity Fund IV, which closed in March of 2013.  The firm was founded in 1990 and is based in Newport Beach, CA and Waltham, MA (www.windjammercapital.com).

VRC is the seventh platform investment in Windjammer’s Senior Equity Fund IV.  The firm is actively seeking add-on acquisitions for VRC in the document storage, shredding, and imaging sectors.

“We’re enthusiastic about our new partnership with Windjammer and their support of our customer-focused approach to the market,” said Mr. Palo. “We look forward to leveraging Windjammer’s resources to help accelerate our growth into new and adjacent markets, strengthen our position in existing markets, and provide our customers with additional services related to their information governance needs.  Windjammer’s operational and strategic resources will be extremely valuable as we embark on the next phase of growth for our company.”

© 2017 Private Equity Professional | April 27, 2017

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