Philadelphia-based LLR Partners has made an investment in Eyewitness Surveillance, a remote video monitoring service provider based out of Hanover, Maryland, for an undisclosed amount. Capital One provided debt financing in support of the transaction.
The investment will be used to grow Eyewitness’ services and applications, in addition to supporting the company’s growth into new regions and vertical markets. To date, Eyewitness helps prevent theft, inventory damage, false claims, and eliminates the need for onsite guard duty to clients including: mid-sized to large-sized automotive dealerships, metal recycling yards, and other similar industrial facilities.
Similar security deals have sprung up recently. In August, Vestar Capital Partners acquired Mobile Technologies Inc., a provider of mobile device display technologies that provide merchandising security for consumer electronics, from Hammond Kennedy Whitney & Co. Inc. for an undisclosed amount. And in February, Apollo Global Management LLC agreed to acquire ADT, a home-security monitoring service provider, for an estimated $6.9 billion.
Michael Levenberg, vice president of LLR Partners, says the firm was “impressed” with the Eyewitness management team’s ability to provide a tailored experience. The Edmonds Group served as the financial adviser to Eyewitness.