Twin Point Invests in Stealth Monitoring
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Twin Point Invests in Stealth Monitoring

Twin Point Capital has invested in Stealth Monitoring, a provider of live video monitoring services, from Auxo Management which will retain an equity interest in the company.

Stealth’s services include video monitoring, access control, video analytics, and detection services. The company’s services utilize advanced technology and are coupled with human intelligence to help detect and deter crime while reducing security guard and related expenses. Stealth monitors more than 25,000 cameras daily, resulting in more than 15,000 deterred crimes, more than 500 arrests and more than 35,000 analyzed customer videos every year.

Stealth’s customers are active in the construction, multi-family residential, shopping center and retail, automotive, office and commercial, industrial and manufacturing, and distribution and logistics sectors. The company has more than 550 employees, 15 offices, and 3 live video monitoring control centers.  Stealth was founded in 2003 and has a US headquarters in Dallas and a Canadian headquarters in Toronto (www.stealthmonitoring.com).

Stealth is led by President Erik Mikkelsen and CEO Robert Cherun. The two executives also lead investment firm Auxo Management, which is an investor in Stealth. “We are very excited to partner with Twin Point to help us take our business to the next level,” said Mr. Mikkelsen. “Their experience and track record for fueling aggressive growth in technology and service businesses will provide Stealth with substantial financial resources and capabilities that will help us achieve our growth initiatives.”

Auxo Management first invested in the security monitoring sector through an investment in Toronto-based UCIT Online Security in April 2011. In November 2016 it invested in Stealth Monitoring and the operations of UCIT were merged into Stealth Monitoring.

“We are very excited to work closely with the Stealth management team.  We are confident that Stealth’s robust technology platform and passion for serving the customer will drive continued growth and success,” said Jonathan Friesel, a managing partner at Twin Point. “Stealth has a unique opportunity to help thousands of businesses, who are still using expensive and less effective physical guards or unmonitored cameras, to better protect their assets and enhance their business outcomes.”

Twin Point Capital was founded in 2015 by Lawrence Guffey and Jonathan Friesel and has offices in Palo Alto and New York City (www.twinpointcap.com).

As part of the transaction, Stealth raised new debt capital which was provided by Pacific Western Bank and CIBC Bank USA.  The financial advisor to Stealth was Raymond James & Associates.

© 2019 Private Equity Professional | September 25, 2019

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