Prospect Partners has acquired Minuteman Security Technologies, an integrator of enterprise security technology systems.
Minuteman’s security systems include card access control, IP video surveillance systems, parking gate control systems, emergency communications, monitored alarm systems, wireless mobile security, and counter-terror technologies. Customers of Minuteman are active in law enforcement, energy, mass transit, consumer retail, education, public safety, and community healthcare. Minuteman, founded in 1988, has five regional offices and is headquartered in the Boston suburb of Andover, MA (www.minutemanst.com).
The buy of Minuteman was completed in partnership with the company’s senior management team led by CEO and founder Joseph Lynch and COO and President George Yannakopoulos. “Joe and George are phenomenal leaders who have built an organization with a strong culture we are proud to join,” said Lou Kenter, a Founding Principal of Prospect Partners. “We look forward to supporting Minuteman’s many exciting growth initiatives as the company continues its national expansion.”
“Minuteman is a dominant niche systems integrator with a great brand name, exceptional product lines, and an excellent reputation for service quality,” said Brett Holcomb, a Principal of Prospect Partners. “Over the years, the company has consistently been recognized for its services, innovation, and growth.”
“A national presence is key to both our growth and diversification strategies and to providing superior security systems with the high-touch customer service for which we have become well-known,” said Mr. Lynch. “As we execute our plan, we look forward to the expertise, capital support, and partnership of Prospect Partners, which has a long history of growing other companies with similar business models. We are eager to introduce exciting proprietary products, like our new TransitSentry mobile city surveillance system, the most advanced public safety solution available, to new customers across the nation.”
Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues of less than $75 million. Areas of interest include niche manufacturing, distribution, and specialty service markets. Since 1998, Prospect Partners has built 50 platforms by investing in more than 150 businesses. The firm has $470 million of capital under management and is based in Chicago (www.prospect-partners.com).
© 2018 Private Equity Professional | February 1, 2018
