Riverside Forms Netwatch Group

The Netwatch Group has been formed by The Riverside Company to establish a platform in the proactive visual monitoring security services sector. Proactive visual monitoring integrates live security cameras, active software surveillance technology, and human security specialists to provide real-time oversight of protected assets.

Simultaneous with its formation, The Netwatch Group has acquired four security monitoring companies as follows: Netwatch, based in Carlow, Ireland (www.netwatchsystem.com); National Monitoring Center (NMC), based in Lake Forest, CA and Irving, TX (www.nmccentral.com); CalAtlantic Security Solutions, based in Houston, TX (www.calatlantic.com); and Onwatch Multifire, based in East Sussex, UK (www.onwatch.com).

The new group is active in protecting hundreds of thousands of sites in the United States, United Kingdom, Europe, Middle East and Africa in a variety of segments including government, transportation, critical infrastructure (utilities, communications, energy), manufacturing, education, stadiums, finance, retail and residential.

Samir Samhouri, the former Chairman and CEO of Xtralis, a maker of smoke detection, gas detection and video surveillance security products that was acquired by Honeywell in February 2016, has been appointed Chairman of Netwatch Group and will be one of the company’s investors. David Walsh, the co-founder of Netwatch, is now the CEO of Netwatch Group. Netwatch Group will be headquartered in Carlow, Ireland and its North American headquarters will be located in Lake Forest, CA with satellite offices in Boston, New Jersey, Dallas, Houston, and Chicago.  The company’s UK headquarters will be in East Sussex, UK (www.netwatchgroup.com).

“Today we are creating a global leader in proactive monitoring services.  There is increased demand for visual monitoring from enterprise customers, driven by the continuing evolution of technology and advances such as AI, Deep Learning, 5G and the Internet of Things,” said Mr. Walsh. “The combined strengths of NMC, CalAtlantic, Onwatch Multifire and Netwatch – all leaders in their respective geographies – means that we can immediately deliver industry-leading proprietary technologies in proactive visual monitoring to hundreds of thousands of clients who rely on us to protect lives, assets and business operations.”

The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 520 transactions and its portfolio includes more than 80 companies. The firm is headquartered in New York with 16 additional US and international offices (www.riversidecompany.com).

This transaction was led by Riverside’s UK and Ireland Partner Dr. Martin Scott and Principal Laura Dillon.

© 2018 Private Equity Professional | April 24, 2018

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