DTT Surveillance to Explore New Markets After Obtaining $40M in Funding
LOS ANGELES — DTT Surveillance, a digital surveillance solutions provider to the restaurant and hospitality industries, has secured a five-year $40 million revolving line of credit from Capital One Bank.
Capital One Bank’s security team partners with security service providers by offering revolving lines of credit, term loans and other banking solutions to fund business needs and opportunities.
DTT, whose customers include McDonald’s, Subway, Dairy Queen, Burger King, Dunkin Brands and YUM Brands, will use the loan to fund working capital needs and the company’s growth strategy. This includes exploring new industry sectors, DTT President and CEO Sam Naficy tells SSI.
“We will begin looking at the convenience store, check cashing/pay-day loans, and small-box retail verticals,” he says. “We are also exploring international expansion into Europe and potentially India.”
The company, which plans to double its staff within the next nine months, has already added 15 new employees to its sales department. Additionally, DTT will focus on beefing up its support and loss prevention departments.
“We are also actively looking at acquisitions and partnerships to add a myriad of services and deliverables for our client base,” Naficy adds.
The company also announced that it has a new owner — BV Investment Partners, a Boston-based private equity firm. The Edmonds Group acted as the exclusive M&A and financial advisor to BV in connection with the transaction.
DTT’s services offerings, such as video and POS integration, led BV to recapitalize the company, according to BV Partner Louis V. Bertocci.
“DTT provides a valuable and compelling managed service offering that offers actionable intelligence to a broad and growing customer base,” he says. “We believe the company’s growth outlook is very favorable.”
Naficy will continue to remain a significant shareholder in the company, while BV partners, including Bertocci, Marco Ferrari and Vik Raina, will serve on DTT’s board of directors.
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