Prospect Partners LLC said Feb. 1 that it has recapitalized Minuteman Security Technologies Inc in partnership with management. Financial terms weren’t announced. Minuteman Security Technologies Inc, of Andover, Massachusetts, provides security technology solutions to enterprise organizations in markets including transportation, higher education, healthcare, industrial/commercial, and municipal.
Chicago, Ill.— February 1, 2018: Prospect Partners, LLC, a leading private equity firm investing in lower middle-market companies, today announced the recapitalization, in partnership with management, of Minuteman Security Technologies, Inc. (Minuteman), of Andover, Mass.
Minuteman, founded in 1988, provides security technology solutions to enterprise organizations in a variety of markets, including transportation, higher education, healthcare, industrial/commercial, and municipal. As an industry-leading security systems integrator, Minuteman partners with best-of-class manufacturers to design, install, and maintain complex security solutions for its customers. Its offering includes access control systems, video surveillance, emergency communications, intrusion detection systems, and public safety security solutions. In addition, Minuteman’s proprietary TransitSentry™ mobile wireless surveillance product allows the company to offer its mass transit clients the most advanced public safety solution available. Long a top security system solutions provider in the New England region, Minuteman recently announced its national expansion, and now operates five regional offices. Joseph Lynch, CEO, and George Yannokopolous, President and COO, lead the company.
“Minuteman is a dominant niche systems integrator with a great brand name, exceptional product lines, and an excellent reputation for service quality,” said Brett Holcomb, a Principal of Prospect Partners. “Over the years, the company has consistently been recognized for its services, innovation, and growth.”
Added Lou Kenter, a Founding Principal of Prospect Partners, “Joe and George are phenomenal leaders who have built an organization with a strong culture we are proud to join. We look forward to supporting Minuteman’s many exciting growth initiatives as the company continues its national expansion.”
In 2017, Minuteman finished 38th in SDM magazine’s annual ranking of the Top 100 Systems Integrators, climbing 15 positions from 53rd in 2016.
Said Minuteman CEO Lynch: “As we execute our plan for national growth, responding both to customer needs and pursuing select strategic acquisitions, we look forward to the expertise, capital support, and partnership of Prospect Partners, which has a long history of growing other companies with similar business models.”
Toward that end, Minuteman seeks to invest in add-on acquisitions of other security integrators that specialize in enterprise systems.
Serving the company’s Board of Directors from Prospect Partners are Mr. Holcomb, as Chairman, and Mr. Kenter, as a Director.
Minuteman becomes Prospect Partners’ 51st portfolio company overall, and the 15th in the firm’s current fund, Prospect Partners III, L.P.
About Prospect Partners
Prospect Partners is a leading private equity firm investing in smaller lower-middle-market companies, managing $470 million across three funds. A highly experienced and active investor, Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues typically under $75 million. Since 1998, Prospect Partners has completed more than 150 transactions nationwide in the building of over 50 platform companies in widely diverse niche manufacturing, distribution, and specialty service markets.