Prospect Partners recaps QMI

Prospect Partners LLC has recapitalized Itasca, Illinois-based QMI Security Solutions, a maker of physical security and protection products for commercial and residential applications.


Chicago, Ill.— June 20, 2017: Prospect Partners, LLC, a leading private equity firm investing in lowermiddle-market companies, today announced its recapitalization, with management, of QMI Security Solutions, Inc. (QMI), of Itasca, Ill.

QMI is the leading manufacturer of physical security and protection products for commercial and residential applications, offering stylish, high-quality barriers that deter retail break-ins, prevent theft, and protect against storms. QMI provides security protection for both exterior and interior spaces in addition to repairs and replacements. The company’s custom products include rolling shutters for storefronts, counters, and cases, as well as side folding shutters, hurricane rolling shutters, and screens. QMI reaches a diverse customer base of retail bank chains, mass merchandisers, pharmacies, wireless stores, and households throughout the U.S., Canada, Mexico, and the Caribbean. Jim Miller, who founded the business in 1986, will continue to lead QMI as President and CEO.

“QMI is an exceptional niche market leader, with top-rated products, a deep commitment to innovation, and a ‘customer-first’ operating strategy,” said Brett Holcomb, a Principal of Prospect Partners. “QMI has consistently set the industry standard for product design and capabilities, and we are excited to partner with Jim and his team to continue building upon the company’s strong brand going forward.”

Said QMI President and CEO Miller: “Prospect Partners has a great reputation for working as true partners with many successful companies like ours. The team’s belief in our mission, coupled with its investment and support, will help us aggressively pursue many growth initiatives, including developing more physical security products for current and new end markets and expanding QMI’s distribution and market reach. We look forward to this new chapter together.”

QMI becomes Prospect Partners’ 49th portfolio company overall, and the 13th in the firm’s current fund, Prospect Partners III, L.P.

Serving on the board of the holding company, QMI Holding, Inc., from Prospect Partners are Mr. Holcomb, as Chairman, and Rick Tuttle, Founding Principal, as a Director. QMI’s Mr. Miller also serves as a Director.

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 140 transactions nationwide in the building of 49 platform companies in widely diverse niche manufacturing, distribution, and specialty service markets.