Rockbridge Growth Equity Sells Kings III of America to Arcline Investment Management
Under Rockbridge’s sponsorship, Kings III completed several major strategic initiatives, including expansion into new markets and scaling the inside sales team.
DETROIT — Rockbridge Growth Equity, a partnership-oriented middle market private equity firm, announces it has sold Kings III of America, a leading third-party provider of elevator and pool emergency monitoring solutions across North America, to Arcline Investment Management.
Financial terms of the transaction were not disclosed.
“We’re pleased with this terrific outcome, which is a result of executing on the value creation plan we developed with management at the time of our initial investment,” says Steve Linden, partner of Rockbridge. “The company’s transformation under our five-year ownership is a testament to management’s impressive ability to execute on an ambitious growth plan while maintaining an unwavering level of service quality and mission-critical support its customers. We are confident Kings III is well-positioned for further expansion, and we wish them the best of luck in the future.”
Under Rockbridge’s sponsorship, Kings III is said to have completed several major strategic initiatives, including: recruiting key additions to the company’s management team; expanding into new markets; scaling the inside sales team; acquiring a close competitor; and building out new marketing and distribution channels.
“Our journey with Rockbridge has been truly transformational, and Kings III is now well-positioned to leverage our excellent customer service reputation and take advantage of strong market demand,” says Dennis Mason, CEO of Kings III. “It has been a pleasure partnering with the Rockbridge team, and we thank them for their support as we enter this exciting new period.”
Thayer Street Partners, a New York-based private equity firm, was also a minority investor and board member in Kings III and exited the company alongside Rockbridge. Honigman served as legal advisor and Raymond James served as financial advisor to Rockbridge and Kings III.
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