surveillance

Breakaway and Plexus Fund IC Real Tech

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Breakaway Capital Partners and Plexus Capital have provided $15 million of senior subordinated notes to IC Real Tech to fund the launch of a new video security product of the company.

IC Real Tech (ICRT) is a designer, developer and manufacturer of video surveillance systems – cameras, digital recording devices and accessories – which are designed to provide video capture, transmission, recording and playback.  The company’s products are installed at over 100,000 customer sites worldwide.  ICRT is based in Pompano Beach, FL (www.icrealtech.com).

ICRT will use the proceeds of the financing from Breakaway and Plexus to fund the launch of the IC 720° – a new camera which captures a 360-degree horizontally by 360-degree vertically field-of-view.

The IC Real Tech transaction represents Breakaway Capital Partners third investment in 2015 and follows Breakaway’s strategy to provide one-stop financing for lower-middle market companies, financial sponsors and independent sponsors.

Breakaway has approximately $50 million of committed capital under management and provides senior debt, subordinated and mezzanine debt, unitranche structures, structured equity and common equity to companies with up to $5 million of EBITDA.  The firm targets leveraged buyouts, acquisitions, recapitalizations, restructurings and growth capital for both sponsored and non-sponsored transactions. Breakaway Capital Partners was founded by Warren Woo and is based in Los Angeles (www.breakawaycap.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-23-15

Riverside Invests in Surveillance Specialist Pro-Vigil

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The Riverside Company has invested in Pro-Vigil, a provider of remote video surveillance and monitoring services for large outdoor properties.

Pro-Vigil offers its services through a combination of state-of-the-art equipment with real-time human monitoring. When a monitor sees suspicious activity at a customer facility, they can alert authorities quickly.  Pro-Vigil’s customers include automotive dealerships, constructions sites, utilities, and oil and gas companies. The company is based in San Antonio (www.pro-vigil.com).

“Security is an issue all companies face, and Pro-Vigil offers tremendous value for an array of end markets,” said Riverside Managing Partner Loren Schlachet. “Their product is trusted and backed by financial guarantees that demonstrate Pro-Vigil’s commitment to customers.”

Riverside anticipates growing Pro-Vigil organically and through add-on acquisitions.  “Pro-Vigil is an exceptional platform for growth,” said Riverside Vice President Brad Resnick. “It has plenty of room to grow in its core markets, and we see ample opportunity to expand into new markets and geographies.”

Working with Messrs. Schlachet and Resnick on the transaction for Riverside were Senior Associate Kevin Kumar, Operating Partner Mike Eblin, and Finance Director Lynda Barr. Origination Principal Jim Butterfield sourced the transaction for Riverside.

The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 370 transactions. The firm’s international portfolio includes more than 75 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

Deerpath Capital (www.deerpathcapital.com) provided financing for the transaction. Jones Day and Deloitte advised Riverside on the transaction.

© 2015 PEPD • Private Equity’s Leading News Magazine • 2-20-15

Vance Street Acquires Tactical Micro

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Secure Communication Systems, a designer and manufacturer of rugged computer and information assurance systems and a portfolio company of Vance Street Capital, has acquired Tactical Micro from Relativity Capital.

Tactical Micro, acquired by Relativity Capital in December 2010, is an engineering systems integration company specializing in range instrumentation and audio/video broadcasting and recording systems for use in military training, metropolitan security systems and other surveillance applications. The company is headquartered in Fredericksburg, VA (www.tacticalmicro.com).

“This acquisition is a strong strategic fit for Secure Communication and we expect Tactical Micro’s transition to be seamless,” said Brian Martin, principal at Vance Street Capital. “Having Tactical Micro on board will help us further diversify Secure Communication’s end markets.”

Secure Communication Systems designs and manufactures C4ISR systems (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance), encryption equipment, wireless communications products and other components for defense, transportation, commercial aviation and industrial applications. The company’s products include handhelds, rugged tablet PCs, workstations and servers, routers, accessories, translators, tactical displays, and ultra-mobile PCs for various branches of the military as well as for civilian applications. The company was founded in 1986 and is based in Santa Ana, CA (www.securecomm.com).

Tactical Micro is the third add-on acquisition completed by Secure since being acquired by Vance Street Capital in October 2009. In September 2013, Secure acquired Lark Engineering (San Juan Capistrano, CA), a designer and manufacturer of RF Filters used by commercial, industrial, and military businesses (www.larkengineering.com). In May 2013, Secure completed its first add-on acquisition with the buy of Smart Electronics & Assembly (Anaheim, CA), a provider of electronic circuit boards, sub-assemblies, cable/harnesses and modules/box builds to the defense, commercial aerospace, industrial and homeland security markets (www.smartelec.com).

Fifth Third Bank provided senior debt financing and Babson Capital provided mezzanine debt financing for this transaction. Relativity Capital and Tactical Micro retained Kipps DeSanto & Co. as investment banker and Hogan Lovells as legal advisor.

Vance Street Capital makes control investments in companies with enterprise values up to $200 million. Sectors of interest include precision industrial manufacturing, aerospace & defense, and medical components & devices. The firm is based in Los Angeles (www.vancestreetcapital.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 1-8-14

Pamlico Capital Acquires Surveillance Specialties

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Securadyne Systems, a security services provider and a portfolio company of Pamlico Capital, has acquired Surveillance Specialties (SURV), a security systems integrator. The SURV acquisition is the second for Securadyne, which was founded in February 2012 in partnership with Pamlico.

“The acquisition of SURV, which enjoys a commanding market presence in New England, ideally complements our build-up strategy focusing on best-in-breed operating platforms,” said Carey Boethel, President and CEO of Securadyne Systems. “The addition of SURV considerably expands our geographic reach and our ability to deliver high-end, fully integrated solutions in a number of key vertical markets.”

Surveillance Specialties was founded in 1986 as a covert surveillance company by Arthur and Joan Bourque. The company changed its business model to a full-service security systems integrator in 1999. The company has branch offices in Wilmington, MA and Portland, ME and serves a customer base focused on industries such as higher education, pharmaceuticals, biomedical, high technology and insurance (www.surv.com).

Securadyne Systems is a security systems integrator and provider of security, wireless and networking products and services to middle market and Fortune 500 customers. The company was ranked 36th among companies listed on the 2011 SDM Top Systems Integrators Report, which ranks security systems integrators by total annual revenue. Securadyne Systems is headquartered in Carrollton, TX (www.securadyne.com).

Pamlico Capital, formerly known as Wachovia Capital Partners, was founded in 1988 and has invested in excess of $3.5 billion in over 200 middle market companies since its inception. Pamlico Capital seeks growth equity and buyout investments of up to $75 million alongside management teams in its target industries, which include business & technology services, communications, and healthcare. The firm currently manages over $2 billion in assets and is based in Charlotte, NC (www.pamlicocapital.com).

 © 2012 PEPD • Private Equity’s Leading News Magazine • 9-7-12