PHILADELPHIA – Eyewitness Surveillance, a provider of remote video monitoring solutions to midsized-to-large automotive dealerships, metal recycling yards and other fixed industrial facilities, says it has secured an investment from private equity firm LLR Partners.
The undisclosed capital will be used to support the company’s expansion of its services and applications as well as its continued growth into new geographic and vertical markets.
As improved technology, cloud adoption and lower hardware and storage costs drive a shift toward managed and remotely monitored security, Eyewitness Surveillance says it has established itself as a provider of cutting-edge solutions that help clients prevent theft, inventory damage and false claims, eliminating the need for onsite guard services.
Eyewitness also offers operational tools and advanced analytics to support sales, customer engagement and employee management, according to a news release. Through its monitoring command center, Eyewitness’ remote surveillance officers observe, analyze and address activities at the client’s facility.
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“LLR’s dedicated security practice and extensive industry network within security and alarm monitoring made teaming up with them ideal for Eyewitness,” says Rush McCloy, CEO of Eyewitness Surveillance. “We are thrilled to have LLR as our partner to help us bolster our services and continue our momentum into new markets.”
Partnering with LLR will enable Eyewitness to build out its service offering as it continues to look for ways to improve customer satisfaction by delivering peace of mind and helping it clients improve their operations, says Eyewitness Surveillance President RT Arnold.
“LLR is the right partner for Eyewitness because they share our commitment to the customer experience,” he says.
“Eyewitness clients are able to help prevent theft and drive tremendous operational efficiencies by utilizing video monitoring and remote surveillance,” says Michael Levenberg, vice president, LLR Partners. “We were impressed with the management team’s ability to provide clients with a uniquely tailored solution that addresses key pain points in their businesses, and are excited to invest in the company’s growth opportunity.”
Capital One provided debt financing in support of this transaction. The Edmonds Group served as financial advisor to Eyewitness for the transaction.
