Capital One announced that it served as the sole lender and administrative agent for a $25 million, five-year revolving line of credit to Eyewitness Surveillance, a Baltimore-based firm that provides remote interactive video surveillance solutions to mid-sized-to-large automotive dealerships, metal recycling yards, and other fixed industrial facilities.
Attracting Private Equity Capital
Eyewitness will use the facility, which closed in connection with an investment from LLR Partners, to refinance existing debt and provide future growth capital needs. LLR Partners, established in 1999, is a middle-market private equity firm headquartered in Philadelphia. It has raised more than $2 billion distributed among four funds for investments in security as well as business services, education, financial services, healthcare, and software.
“This transaction is a perfect example of how security firms using the latest video technologies are attracting the attention of private equity capital,” said John Robuck, Capital One’s Managing Director of Security Finance. “Thanks to its cutting-edge applications and its forward-leaning management team, Eyewitness has been able to build exciting video solutions. We look forward to working with LLR and the company as they continue to focus on growth opportunities.”
Object Detection Analytics
Founded in 2004, Eyewitness Surveillance has compiled a record of strong organic growth by applying advanced algorithms and object detection analytics to its video systems. They customize these tools for specific locations, allowing security professionals to identify and respond appropriately to targeted behavior.
"Capital One knows their way around the security industry |
At auto dealerships, Eyewitness employs its advanced analytics capabilities to deter criminal activity and to improve business operations by measuring customer foot traffic, improving employee responsiveness, and managing assets. In addition, Eyewitness’ systems can help dealerships mitigate false liability claims and damage to lot inventory.
“Capital One knows their way around the security industry and appreciates the disruptive potential of these new video and analytics technologies,” said Rush McCloy, CEO of Eyewitness Surveillance. “Their team understood our approach and was able to provide flexible financing to help us grow and expand our service offering.”
Improved Operations
“The investment from LLR and the line of credit from Capital One will help us enhance the customer experience, continue to deliver peace of mind, and help our clients improve their operations,” said RT Arnold, President of Eyewitness Surveillance.
Capital One’s extensive industry expertise and streamlined approval process also meant that it could meet the transaction’s tight deadline. “Timely execution was paramount for us,” said Michael Levenberg, Vice President of LLR Partners. “Capital One closed the deal in less than 30 days from term sheet to execution.”
Capital One’s Security Finance team provides flexible financing solutions to security companies that need working capital, organic creation cost financing, and/or acquisition support.
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