Checkpoint Systems has entered into an agreement to sell its U.S. and Canadian CheckView business to Platinum Equity. The transaction is expected to close by the end of April 2013.
CheckView provides digital video, intrusion and fire/life safety services to retailers and customizes products and programs to address specific sources of shrink and operational concerns. The company’s products and services are used to aid in the protection of retailers’ assets and improve safety for employees and customers. Services provided include consulting and system design, installation, service and support. Click HERE to view CheckView’s webpage.
“We are excited about the prospects for CheckView under our ownership,” said Platinum Equity Principal Jason Leach. “Platinum has an extensive track record of acquiring corporate divestitures and maximizing their potential as standalone businesses. CheckView will act as a platform acquisition and allow us to focus on the core business while pursuing organic growth initiatives and strategic add-ons in a highly fragmented space.”
Platinum Equity invests in a range of industries including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Platinum Equity has completed nearly 145 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. The firm is based in Beverly Hills and also has offices in New York and London (www.platinumequity.com).
“We are pleased to have reached an agreement. Platinum Equity is a global investment firm with a unique focus on business operations and a strong track record helping companies reach their full potential. The firm’s financial resources and operational expertise will present the CheckView business with tremendous new opportunities. We are committed to support CheckView throughout the sale process to ensure an orderly transition with full continuity of service to customers,” said Checkpoint Systems’ President and Chief Executive Officer, George Babich.
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-25-13
