Parthenon Capital Partners has completed an investment in Envysion, a provider of managed video surveillance as a service for quick service restaurants and other retailers. Proceeds from the transaction will be used to provide growth capital for the company and to provide liquidity to certain shareholders.
Envysion is led by Chief Executive Officer, Matt Steinfort, who co-invested alongside Parthenon in the transaction. “Since we first met the Parthenon team over a year ago, we have been consistently impressed with their deep understanding of our industry. They have dedicated significant time researching the industry and have come into the investment with a compelling thesis developed over that period. We have worked closely with the Parthenon team over the past year to develop a shared vision to continue the growth and innovation that has made Envysion an industry leader. We are confident that the resources and experience that Parthenon brings to the investment make it the right partner to help Envysion reach its full potential.”
Envysion is a provider of managed video surveillance as a service (“MVaaS”) for quick service restaurants, retail, wireless, convenience store and cinema customers. The Envysion Video service enables organizations to leverage remote video and gives operators the insight to improve performance in every location, every day. Operators benefit from remote viewing of live and recorded video from an unlimited number of locations. The service goes beyond traditional security and loss prevention applications by integrating video with business tools such as Point-of-Sale systems. Envysion was founded in 2006 and is based in Louisville, CO (www.envysion.com).
“We are thrilled to partner with Matt and the Envysion team,” said Andrew Dodson, Partner at Parthenon Capital Partners. “Having spent years in and around the security and video surveillance industries, we believe that video-driven business intelligence is revolutionizing how owners and operators manage retail and restaurant locations. With better access to broadband and affordable data storage, operators can utilize cloud-based solutions like Envysion’s to dramatically enhance their loss prevention efforts and improve operational efficiency by combining analytics with video. We believe Envysion is the clear industry leader providing these capabilities.”
Parthenon Capital invests from $20 million to $80 million in middle-market companies with enterprise values of $50 million to $500 million and EBITDAs greater than $10 million (less EBITDAs for high growth companies). Sectors of interest include financial and insurance services, healthcare, business and government services, technology-enabled services, and distribution/logistics. The firm has approximately $2 billion of capital under management and has offices in Boston and San Francisco (www.parthenoncapital.com).
“Since its founding, Envysion has partnered with some of the largest, most sophisticated operators within the retail, restaurant and cinema industries. By providing these customers with powerful, easy-to-use, cloud-based solutions, Envysion has substantially increased the profitability of these customers, reduced losses, increased operational efficiency, and driven the effectiveness of marketing campaigns. Parthenon is excited to partner with the Envysion team to build upon its track record of growth and lead the industry into its next phase of expansion,” said David Ament, a Managing Partner at Parthenon.
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-31-13
