DETROIT – Rockbridge Growth Equity (RGE) announced today it has led the acquisition of Connect America LLC, a provider of personal emergency response systems sold directly to consumers. Terms of the deal were not disclosed.
Falcon Investment Advisors partnered with Rockbridge in the acquisition, providing subordinated debt and preferred equity financing. The companies also announce Ken Gross, Connect America’s founder and CEO, will continue to be a substantial owner in the company and will continue in his role as CEO.
“Connect America is one of the largest direct to consumer players in the industry and its large, scalable platform has been instrumental in growing its business to more than 75,000 customers,” says RGE Partner Kevin Prokop. “We believe that Connect America’s unique expertise and exceptional management team will be the foundation for substantial growth in the years ahead.”
Founded in 2004 and headquartered near Philadelphia, Connect America differentiates itself from traditional PERS companies through its strategic alliance partnerships, internal marketing expertise and superior customer service, according to the company.
“I am looking forward to working with Rockbridge and I am confident the relationship is going to transform Connect America into the top direct-to-consumer PERS provider in the country,” Gross says. “Rockbridge and its portfolio of companies support in marketing, technology and operations will be the key to growing our business and opening up new markets.”
SPP Advisors (formerly Security Performance Partners) represented Connect America in the transaction. SPP Advisors Managing Director Peter Flynn says Connect America was a unique opportunity for Rockbridge to enter the PERS space as one of the fastest growing companies in the industry.
“Partnering with an industry leader like Ken Gross provides management and marketing expertise that is sure to lead to future growth and success,” he says.
