September 20, 2012
Boston, MA - Capstone Partners LLC, a leading national investment banking firm, announced that it has successfully advised Surveillance Specialties, Ltd. (“SURV”), on its acquisition by Securadyne Systems, LLC (“Securadyne Systems”) and Pamlico Capital (“Pamlico”). Terms of the transaction were not disclosed.
SURV 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 and, since then, achieved considerable and consistent growth, emerging as the top independently-owned and operated security systems integrator in New England. Arthur Bourque, President and CEO of SURV stated, “The decision to sell was not made without lengthy consideration and serious contemplation. For us, it was the culmination of the American Dream. We started the business in the cellar of our home and grew it to become the largest independently owned security integration company in New England.”
SURV was acquired by Securadyne, which was founded in February 2012 in partnership with Pamlico. The SURV acquisition is the second for Securadyne. “We were fortunate to have a number of viable strategic alternatives for our business, but it was clear that Securadyne represents the future of our industry and is the best possible fit for SURV’s employees, customers and shareholders. We’re very excited about joining the Securadyne team and the opportunities for growth that will be created by this partnership,” added Bourque. Mr. Bourque will join Securadyne’s Board of Directors and be active in advising on the Company’s strategic direction and helping with future M&A activities. All 77 SURV employees will join Securadyne.
With the acquisition of SURV, Securadyne Systems now has a platform for growth in the Northeast. “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,” explained 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,” Boethel added. Three features attracted Securadyne and Pamlico Capital, Securadyne’s financial partner, to SURV: the company’s technical capabilities, its long-standing customer relationships, and its vertical market expertise. The acquisition also brings fire installation expertise to Securadyne.
Capstone Partners’ team of John Ferrara, Managing Partner, and Daniel Schultz, Vice President, managed the transaction on behalf of SURV. “We are proud to have represented SURV and the Bourques in this transaction," commented Ferrara, adding, "SURV's technical capabilities are really second to none and their passion for integrity, quality service, and industry-leading technologies made for a highly attractive company. We believe Securadyne's vision to create a unique solutions provider that leverages emerging IP and cloud-based technologies will help to elevate SURV to the next level. This is truly a strategic partnership that should be extremely beneficial to both entities."
Capstone Partners LLC is a leading national investment banking firm dedicated to serving the corporate finance needs of middle market business owners, investors and creditors. The firm provides merger & acquisition, private placement, corporate restructuring, valuation and financial advisory services. Capstone maintains various industry specialties including business services, consumer products, education & training, government services, health & medical, manufacturing & industrial and technology & telecom. The firm also possesses merchant banking capabilities to actively co-invest in transactions.