DTT, a provider of video-based surveillance solutions to the hospitality and C-Store industries, closed an $80 million debt facility led by administrative agent Capital One and CapitalSource, a division of Pacific Western Bank.
The facility will be utilized primarily for the acquisition of LP Innovations, a loss prevention provider to the retail industry, and for additional growth capital.
“We are very excited to join forces with the LPI team led by Steve May,” said Sam Naficy, CEO and founder of DTT. “The merger makes DTT the first and only company that can provide clients with a full suite of LP solutions across multiple industries.”
John Robuck, managing director and head of Security Finance at Capital One, remarked, “We continue to enjoy the long-standing partnership with DTT and we’re excited to play a role in this significant expansion opportunity for the business.”
