Monroe Street Partners LLC, a Chicago-based private equity firm, has purchased Vigilnet America LLC, an electronic monitoring services company for the criminal justice system.
Headquartered in Omaha, Neb., Vigilnet provides a suite of electronic monitoring services for more than 130 agencies across five states and has monitored more than 100,000 offenders since its inception. Vigilnet’s technology-enabled services play a role in supporting offender rehabilitation, helping with prison overcrowding, protecting communities and reducing government costs. Jakes Dawes, who has led the company since 2007, will remain as Vigilnet’s president & CEO.
“As one of a select few service providers with significant scale and a growing national presence, this partnership will enable us to support key growth initiatives, with a particular focus on strategic acquisitions,” comments Alex Foshager, managing partner at MSP.
Oxer Capital provided debt financing for the transaction and Ice Miller LLP served as legal counsel for MSP.