ANNOUNCEMENT
Franklin Partners advises a U.S. private capital fund in recapitalization of portfolio company with European strategic investor
Franklin Partners initiated and completed a transaction to provide liquidity to a private capital fund for its portfolio company, Best Security Industries (“Best Security”), a security systems integrator. With operations in New York and Florida, Best Security is a recognized leader in a segment of the North American security market.
Franklin Partners conducted a global search for a new strategic investor that would not only provide liquidity to the private capital fund, but that would also help its portfolio company accelerate its growth and expand its market share. The search culminated with Prosegur Compania de Seguridad S.A., a publicly-held European company, acquiring a majority ownership stake. Terms of the transaction were not disclosed.
Franklin Partners was the seller’s exclusive M&A advisor and Ballard Spahr LLP (Minneapolis office) was transaction counsel to the seller.
About Best Security Industries
Founded in 1987, Best Security is a leading provider of innovative, technology-enabled, store-level security solutions to local, regional and national retailers across North America. Best Security operates through two divisions: Video Solutions which provides state-of-the-art, IP-based video surveillance of store premises and Electronic Article Surveillance Solutions which provides a broad range of new and certified pre-owned tags, readers, detachers, de-activators and pedestals for tracking high-value items within the store. Best Security operates out of two locations based in Farmingdale, NY and Delray Beach, FL.
About Prosegur Security USA
Prosegur makes the world safer by taking care of people and businesses while remaining at the forefront of innovation. The company is a global security leader operating in 26 countries, with over 165,000 employees and 26 command centers spread around the globe. In the U.S., the company offers a range of security services, including guarding, mobile patrol, security technology, surveillance, security operations center services, global risk services, retail security solutions, and cyber security services.
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