Vance Street Capital, a Los Angeles based private equity firm, partnered with Pro-Vision, a North American provider of video monitoring solutions for the commercial, K-12 transit, and public safety end markets, to support the business and management team during the next chapter of its growth story. The acquisition represents Vance Street’s first platform investment out of Vance Street Capital IV.
As part of the transaction, the Pro-Vision management team will reinvest, retain an ownership position and continue to lead the business going forward.
“On behalf of the entire Pro-Vision team, we couldn’t be more excited to begin this next chapter with Vance Street,” Mike Finn, CEO of Pro-Vision, said. “This partnership gives us the green light to invest in the business, both organically and through M&A, and will allow us to continue to focus on providing our customers with the highest quality mobile safety and security products and services. Vance Street brings a complementary, growth-oriented playbook geared toward fine-tuning our strategy and processes, which is a perfect fit for our organization.”
“Pro-Vision has an impressive track record of product innovation across hardware, firmware and software, as well as in growing and executing on its pipeline across new and existing end markets,” John LeRosen, partner at Vance Street, said. “Pro-Vision is a great representation of the type of businesses Vance Street looks to invest in.”
“With Vance Street’s support and capital, Pro-Vision will be able enhance its product development pipeline and continue to provide current and future customers with best-in-class products and services,” Yousaf Tahir, principal at Vance Street, said. “Vance Street’s ability to leverage its experience in industrial technology, and more specifically critical asset monitoring for safety and security related applications, makes Pro-Vision a great fit.”
Goodwin Proctor acted as legal advisor and Current Capital Partners served as financial advisor to Vance Street Capital. PMCF Investment Banking served as financial advisor and Goodwin Proctor served as legal advisor to JMC Capital Partners and Pro-Vision. Debt financing for the transaction was provided by Barings. Terms of the transaction were not disclosed.
