Snow Phipps Group has completed the buy of Electric Guard Dog from Ulysses Management.
Electric Guard Dog (EGD) is a provider of monitored electric security fence systems to commercial and industrial users. The company’s fence systems are used in more than 3,300 locations and, according to Snow Phipps, the company is the largest owner and operator of such fences in the United States.
EGD installs fences at no upfront cost to its customers and charges monthly fees under multi-year contracts. The company retains ownership of its fences and services them through a national technician network. EGD was founded in 1973 as a provider of trained guard dogs. The company is led by CEO Jack DeMao and is headquartered in Columbia, SC (www.electricguarddog.com).
Mr. DeMao and the existing EGD management team will continue to lead the company under Snow Phipps’ ownership. “Snow Phipps is excited to partner with Electric Guard Dog’s management team, which has an outstanding track record of delivering security solutions to its customers. The company is poised for significant growth and we intend to meet growing demand by continuing to invest in sales, marketing, service technicians, compliance, and technology,” said Sean Epps, Partner at Snow Phipps.
John Kenny, a Snow Phipps operating partner who focuses on industrial service businesses, will join EGD as the non-executive Chairman of the Board of Directors. Mr. Kenny currently serves as Chairman of Cascade Environmental Services and was formerly the Chief Financial Officer of Iron Mountain.
Snow Phipps makes control investments in companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging from $40 million to $100 million. The firm has $1.5 billion of assets under management and was co-founded by Ian Snow and Ogden Phipps in April 2005. Snow Phipps is headquartered in New York (www.snowphipps.com).
Ulysses Management acquired a majority equity interest in EGD in 2007 from founder Bill Mullis. Mr. Mullis retained and equity interest in the company and remained as a member of the company’s board of directors. “It has been a pleasure to work with Jack DeMao and the entire management team over the past nine years. I’m proud of what we accomplished and am eager to see what the future brings for Electric Guard Dog,” said Paul Barnett, Managing Director at Ulysses.
Ulysses Management invests from $10 to $50 million of equity in companies with at least $10 million of EBITDA. The firm has more than $1 billion of capital under management. The firm was founded in 1997 and is headquartered in New York (www.ulyssesmgmt.com).
Raymond James & Associates (www.raymondjames.com) was the financial advisor to Electric Guard Dog and Robinson, Bradshaw & Hinson (www.robinsonbradshaw.com) served as the company’s legal advisor. Weil, Gotshal & Manges (www.weil.com) served as legal counsel to Snow Phipps.
© 2016 Private Equity Professional • 6-15-16