Vance Street Capital Acquires Pro-Vision
Partnership will bolster Pro-Vision’s commercial and engineering strategy, reinforcing the Company’s position as a leading player in the safety and security ecosystem
Vance Street Capital (“Vance Street”), a Los Angeles based private equity firm, today announced it has partnered with Pro-Vision (the “Company”) to support the business and management team during this next chapter of its growth story. Pro-Vision is a North American provider of video monitoring solutions for the commercial, K-12 transit, and public safety end markets. The acquisition represents Vance Street’s first platform investment out of Vance Street Capital IV L.P. and leverages the firm’s experience in industrial technology as well as in the critical asset monitoring space.
Headquartered in Grand Rapids, Michigan, Pro-Vision is an end-to-end mobile video solution provider that specializes in designing, assembling, and bundling a comprehensive and customizable suite of video solutions for critical asset monitoring. Pro-Vision’s cameras, monitors, recording & storage devices, managed install services, and Video-as-a-Service (“VaaS”) software platform provide customers a clear and tangible ROI related to cost savings (e.g., insurance savings) as well as enhanced safety and reduced liability (e.g., accident reduction, improved driver performance).
Founded in 2003, Pro-Vision has a long heritage and strong foundation of providing differentiated, safety-focused solutions for its customers. Through organic investments in the engineering team and expansion of the Company’s hardware and software capabilities, Pro-Vision has built a strong reputation as a valued partner recognized for its customer service, reliability and high-quality products. As part of the transaction, the Pro-Vision management team will reinvest, retain an ownership position, and continue to lead the business going forward. “On behalf of the entire Pro-Vision team, we couldn’t be more excited to begin this next chapter with Vance Street,” said Mike Finn, CEO of Pro-Vision. “This partnership gives us the green light to invest in the business, both organically and through M&A, and will allow us to continue to focus on providing our customers with the highest quality mobile safety and security products and services. Vance Street brings a complementary, growth-oriented playbook geared toward fine-tuning our strategy and processes, which is a perfect fit for our organization.”
“Pro-Vision has an impressive track record of product innovation across hardware, firmware and software, as well as in growing and executing on its pipeline across new and existing end markets,” said John LeRosen, Partner at Vance Street. “Pro-Vision is a great representation of the type of businesses Vance Street looks to invest in.”
“With Vance Street’s support and capital, Pro-Vision will be able enhance its product development pipeline and continue to provide current and future customers with best-in-class products and services,” Yousaf Tahir, Principal at Vance Street, added. “Vance Street’s ability to leverage its experience in industrial technology, and more specifically critical asset monitoring for safety and security related applications, makes Pro-Vision a great fit.”
Goodwin Proctor LLP acted as legal advisor and Current Capital Partners served as financial advisor to Vance Street Capital. PMCF Investment Banking served as financial advisor and Goodwin Proctor LLP served as legal advisor to JMC Capital Partners LLC and Pro-Vision. Debt financing for the transaction was provided by Barings. Terms of the transaction were not disclosed.
About Vance Street Capital LLC
Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the industrial technology, medical, life science, aerospace and defense sectors. For over two decades, Vance Street’s partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.