Vigilnet America, a provider of electronic monitoring services to the criminal justice system, has been acquired by Monroe Street Partners (MSP), a Chicago-based private equity firm.
Headquartered in Omaha, NE, Vigilnet provides a comprehensive suite of electronic monitoring services to more than 130 agencies across five states and has effectively monitored more than 100,000 offenders since inception. As a mission critical partner to local and state-level government agencies, Vigilnet’s technology-enabled services play an essential role in supporting offender rehabilitation, alleviating prison overcrowding, protecting communities and reducing government costs.
In conjunction with the transaction closing, Jake Dawes, who has led the company since 2007, will remain as Vigilnet’s president and CEO.
“I am thrilled for the opportunity to partner with MSP to continue our company’s vital mission of rehabilitating offenders, keeping communities safe and offering a compelling and cost-effective alternative to incarceration,” Dawes said.
“We are delighted to partner with Jake and the Vigilnet management team, as the company has established itself as a leading electronic monitoring services provider in the United States.” Alex Foshager, managing partner at MSP, said. “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.”
“We look forward to building upon Vigilnet’s long-standing reputation for reliability and service quality to accelerate growth,” Kenneth Mill, managing partner at MSP, said. “The United States has the highest incarceration rate in the world, and we believe community-based correctional alternatives such as electronic monitoring will continue to play a critical role in reforming our criminal justice system.”
Oxer Capital provided debt financing for the transaction and Ice Miller served as legal counsel for MSP.
