Thu, 31/01/2013 - 16:01
Private equity firm Parthenon Capital Partners has completed an investment in Envysion, a provider of managed video surveillance as a service (MVaaS) for QSR, retail, wireless, convenience store and cinema customers.
Proceeds from the transaction will be used to provide growth capital for the company and to provide liquidity to certain shareholders.
Envysion is led by chief executive officer Matt Steinfort, who, with his team, has developed a cloud-based MVaaS solution providing powerful video-based business intelligence solutions to numerous retail end-markets.
Steinfort, who co-invested alongside Parthenon in the transaction, says: “Since we first met the Parthenon team over a year ago, we have been consistently impressed with their deep understanding of our industry. They have dedicated significant time researching the industry and have come into the investment with a compelling thesis developed over that period. We have worked closely with the Parthenon team over the past year to develop a shared vision to continue the growth and innovation that has made Envysion an industry leader. We are confident that the resources and experience that Parthenon brings to the investment make it the right partner to help Envysion reach its full potential.”
“We are thrilled to partner with Matt and the Envysion team,” says Andrew Dodson (pictured), partner at Parthenon Capital Partners. “Having spent years in and around the security and video surveillance industries, we believe that video-driven business intelligence is revolutionising how owners and operators manage retail and restaurant locations. With better access to broadband and affordable data storage, operators can utilise cloud-based solutions like Envysion’s to dramatically enhance their loss prevention efforts and improve operational efficiency by combining analytics with video. We believe Envysion is the clear industry leader providing these capabilities.”
Headquartered in Louisville, Colorado, Envysion was founded in 2006 with the goal to provide sophisticated managed video surveillance solutions to customers who needed an easy-to-use solution to enhance their business intelligence capabilities and provide insight into their retail operations. Today, the company’s solution is deployed in thousands of retail locations across the US and Canada.
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