Columbia, Md. — Aegis Mobile, LLC, a provider of wireless compliance and consumer protection solutions for mobile payments, announced the completion of a recapitalization led by CameronBlue Capital, a McLean, VA-based private equity firm, in a transaction that closed on May 2, 2012. CameronBlue partnered with management to acquire a controlling interest in the Columbia, MD-based company, which has experienced exceptional growth since its founding in 2006. Terms of the transaction were not disclosed.
Aegis Mobile is an important service provider to the wireless industry in the emerging mobile payment markets. As a provider of compliance and consumer protection services to mobile billers, Aegis Mobile has a diverse and proprietary set of services to pre-empt deceptive advertising, “cramming”, and payment fraud targeting wireless subscribers. Its services provide additional levels of security for purchases of digital content through texting, app stores or other forms of mobile billing. Aegis Mobile works with a variety of clients, from Fortune 100 companies to smaller wireless and internet technology companies.
Rich LaPerch, co-Founder and CEO of Aegis Mobile, said, “CameronBlue Capital is the perfect partner to assist the growth and direction of our business in the wireless industry. We have an outstanding group of employees who provide tremendous operational expertise on which we can build additional mobile capabilities. CameronBlue Capital provides the access to capital, resources and industry opportunities that will accelerate our business development and overall growth, and their values on service excellence, integrity and relationships mesh extremely well with our existing culture”
“We are excited with the opportunity to invest in the future of Aegis Mobile and partner with Rich LaPerch.” said Jeff Goettman, Managing Partner of CameronBlue Capital, “Rich and his team have built a very successful business, and we share his goal of furthering the growth of the Company as Aegis Mobile expands its security and compliance solutions in the dynamic mobile billing market. With our experience in providing guidance and stewardship to growing businesses, we expect to assist the development of capabilities and strategies that will enable Aegis to achieve a greater market presence and an even higher level of operating performance.”
Baker Botts L.L.P. provided legal advice to CameronBlue on this transaction, and Lacki & Company provided legal advice to Aegis Mobile. Marriott & Co. acted as financial advisor to Aegis Mobile on this transaction.
About Aegis Mobile, LLC:
Founded in 2006, Aegis Mobile (http://www.aegismobile.com/) provides sophisticated wireless compliance and consumer protection solutions to businesses engaged in mobile billing of wireless subscribers. As a pioneer and leader in the developing and changing regulations surrounding consumer protection in the wireless industry, Aegis Mobile creates tailored solutions that enable organizations to protect their brand and customers from deceptive practices and fraud across a wide range of media. Clients include customers include tier one carriers in the US and Brazil as well as emerging mobile payment providers and wireless trade associations in the US and Canada. Aegis Mobile ranked #561 in Inc. Magazine’s 2011 500|5000 ranking of the nation’s fastest-growing private companies and was named High Tech Firm of the Year for 2011 by the Tech Council of Maryland.
About CameronBlue Capital:
Based in McLean, VA, CameronBlue Capital (http://www.cameronblue.com/) is a private equity investment firm seeking partnerships with owner-managers who are committed to building successful and enduring businesses. CameronBlue Capital targets profitable companies with revenues between $10 and $50 million in the Mid-Atlantic and Southeastern United States. Using its investment experience, industry expertise and value-added board of directors to provide guidance and oversight, CameronBlue Capital offers skilled and engaged outside resources that enable owners and managers to grow their business and achieve a higher level of operating performance.
Richmond, VA – Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as exclusive financial advisor to ABC Builders Supply, Inc. (“ABC” or the “Company”) in its debt financing transaction that closed on January 5, 2012. The transaction included senior debt financing provided by Bank of Virginia and subordinated debt financing provided by a syndicate of private investors. ABC’s management team also made a co-investment in the subordinated debt financing. Proceeds from the new capital investment were used to refinance existing debt and position the Company for future growth. Terms of the transaction were not disclosed.
Based in Chester, Virginia, ABC is a leading distributor of drywall, metal framing and related accessories to a diversified customer base in the residential and commercial construction markets throughout Virginia. Founded in 1948, ABC has a long successful operating history and today employs over 60 employees. The Company is led by its three co-owners who have significant operational experience in the building products industry.
Barry Brockwell, Co-Owner of ABC, said, “The Marriott & Co. team was a critical partner to ABC in accomplishing our goals in this financing transaction, and we are extremely excited about the future of our Company given our attractive new capital structure. This was a complex deal that involved bringing multiple parties together, and the value that Marriott & Co. added throughout the entire process was enormous.”
“At ABC, we pride ourselves on exceeding our customers’ expectations in terms of quality, service and responsiveness in everything we do,” said John Farrar, Co-Owner of ABC, “and I can firmly say that Marriott & Co. shares those same objectives in the services they provide to their clients.”
“We are very bullish on the future of the building products industry in our target markets,” added John Hinkle, Co-Owner of ABC, “and this transaction perfectly positions ABC to capitalize on the many growth opportunities that we see in today’s environment.”
About ABC Builders Supply, Inc.:
ABC Builders Supply, Inc. is a leading distributor of drywall, metal framing and related accessories, serving both the residential and commercial construction markets throughout Virginia. Based in Chester, Virginia with an operating history dating back to 1948, ABC Builders Supply is highly respected within the markets it serves, and the Company’s enjoys long-standing relationships with its customers and suppliers. As an independent, regional player in the building products distribution industry, ABC is well-known for providing high quality products, superior customer service and customized solutions to its customers.
About Marriott & Co.:
Marriott & Co. (http://www.marriott-co.com) is a premier, independent investment banking firm focused on advising privately held companies across a wide variety of industries. The firm is dedicated to building long-term relationships with middle market companies, and it has a long track record of delivering results on assignments such as mergers and acquisitions, capital raising and restructurings. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies today. By providing senior level attention, a relationship approach and a high level of execution to every assignment it undertakes, Marriott & Co. is a value-added partner to its clients. The firm’s team has deep relationships throughout the private capital markets, and it frequently achieves valuations and structures for its clients that exceed industry norms.
Richmond, VA – Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it provided valuation advisory services to Network Data Security Experts, Inc. (“NDSE”) with respect to a management-led recapitalization. Terms of the transaction were not disclosed.
Based in Richmond, Virginia, Network Data Security Experts (“NDSE”) is a leading provider of total network solutions and services, offering voice, data, converged technology and consulting solutions. NDSE provides its solutions to all types of small to medium-sized companies with a specialization in manufacturing, financial, medical and legal firms. NDSE’s services are focused on providing the business tools that small businesses need to compete, providing affordable technology designs based on unique business requirements.
Frank Ernesto IV, CEO of NDSE, said, “It was a pleasure working with the Marriott & Co. team. They were responsive and performed a very thorough analysis in a relatively tight timeline. I look forward to the continued success of NDSE and potential opportunities to work together with Marriott & Co. in the future.”
“NDSE has built an impressive business over the past 15 years,” said Justin Marriott, Managing Director of Marriott & Co., “and our firm was pleased to assist the company by providing valuation services in conjunction with its recapitalization. I wish Frank and his team continued success and hope that we may work together again.”
About Network Data Security Experts, Inc.: Since 1996 NDSE has provided the specialized IT solutions that can help companies achieve their business goals. NDSE’s flexible computer services can allow management teams to focus on their business, instead of the technology they need to keep it running.
NDSE offers the network solutions that can drive businesses to become more profitable, productive, and stress-free.
About Marriott & Co.: Marriott & Co. (http://www.marriott-co.com) is a premier, independent investment banking firm focused on advising privately held companies across a wide variety of industries. Our firm is dedicated to building long-term relationships with middle market companies, and we have a long track record of delivering results on assignments such as mergers and acquisitions, capital raising, consulting engagements and restructurings. Our unique entrepreneurial culture enables us to tailor our services to meet the needs of our clients, and our professionals have an unparalleled understanding of the challenges and opportunities facing these companies today. By providing senior level attention, a relationship approach and a high level of execution to every assignment we undertake, Marriott & Co. is a value-added partner to our clients. Our team has deep relationships throughout the private capital markets, and we frequently achieve valuations and structures for our clients that exceed industry norms.
Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce the promotion of Bryan Burden to Director at the firm. Bryan, who joined Marriott & Co. in March 2010, has 11 years of investment banking experience and focuses on providing industry-leading service to the firm’s middle market advisory clients.
“Marriott & Co. is pleased to recognize Bryan’s important contributions to the firm with this well-deserved promotion,” said Justin Marriott, Managing Director and Founder of Marriott & Co. “Bryan’s strong transactional experience has made him an integral member of our team, and I look forward to his continued efforts to help build upon our successful investment banking platform.”
Prior to joining Marriott & Co., Bryan was a Vice President at Boxwood Partners, where he executed middle market investment banking transactions for clients in a variety of industries. He was previously an investment banking Associate at Wachovia Securities and also served as CFO of a privately held company. He began his career at BB&T Capital Markets, where he was an investment banking Analyst and Associate. Bryan received his B.S. in Commerce with a Concentration in Finance from the McIntire School at the University of Virginia.
“I thoroughly enjoy working with the talented team here at Marriott & Co., and it is a rewarding experience to work closely with great clients to achieve their objectives. I am excited about the significant growth opportunities that lie ahead for our firm,” said Bryan Burden.
About Marriott & Co.:
Marriott & Co. (http://www.marriott-co.com) is a premier, independent investment banking firm focused on advising privately held companies across a wide variety of industries. Our firm is dedicated to building long-term relationships with middle market companies, and we have a long track record of delivering results on assignments such as mergers and acquisitions, capital raising, consulting engagements and restructurings. Our unique entrepreneurial culture enables us to tailor our services to meet the needs of our clients, and our professionals have an unparalleled understanding of the challenges and opportunities facing these companies today. By providing senior level attention, a relationship approach and a high level of execution to every assignment we undertake, Marriott & Co. is a value-added partner to our clients. Our team has deep relationships throughout the private capital markets, and we frequently achieve valuations and structures for our clients that exceed industry norms.
Acquisition Further Deepens Globecomm’s Wireless Capabilities
HAUPPAUGE, N.Y., April 8, 2011 /BusinessWire/ – Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, announced today that the Company has acquired ComSource, Inc. (ComSource).
The initial purchase price is $20.0 million, funded through $2.0 million of existing cash and $18.0 million through the Company’s existing credit facility with Citibank. ComSource may receive up to $21.0 million of additional consideration, through a two-year earn-out, based on reaching certain earnings milestones.
Based in Frederick, MD, utilizing their state of the art test facility, ComSource provides independent test and evaluation of a variety of telecommunications equipment and related recurring long term application support, including new feature sets. Client testing includes basic performance, data assurance, reliability and system security. ComSource is capable of testing the following wireless equipment types:
UMTS (3G) platforms and mobile devices.
GSM platforms including GPRS and EDGE and mobile devices.
CDMA platforms and mobile devices.
Wi-Fi platforms and mobile devices.
Wi-Max platforms and mobile devices.
ComSource currently employs 48 individuals, of which 39 are dedicated to wireless technologies software development.
ComSource had unaudited revenues of approximately $22.7 million for the year ended December 31, 2010. The transaction is anticipated to be immediately accretive excluding the impact of amortization of intangibles relating to the transaction, and excluding the non-recurring charge for acquisition costs. ComSource’s primary customer is a Tier 1 global telecommunications company (“key customer”) and has a high concentration of recurring service revenue that complements one-time equipment sales.
David Hershberg, Chairman and CEO of Globecomm Systems Inc., said: “Globecomm continues to invest in mobile technologies as the proliferation of mobile devices such as cell phones and tablets reach unprecedented levels and the Company anticipates continued robust growth in this vertical marketplace. ComSource’s key customer affords Globecomm the opportunity to up-sell multiple aspects of Globecomm’s current engineering capabilities in the broadcast and multi-media arena, which are rapidly converging in the wireless arena. The culture of ComSource, combined with the desire to possess these capabilities were the primary reasons to move forward with this transaction. I appreciate the efforts of the members of the Globecomm acquisition team who worked diligently to make this transaction happen. They continue to close deals that align with our long-term goals of completing related acquisition opportunities in a vast, rapidly changing marketplace. I would like to welcome the entire ComSource team to the Globecomm family.”
Jerald L. Cruce, CEO of ComSource, Inc., said: “This is a great opportunity for the employees and staff of both Globecomm and ComSource. The synergies of both companies will be a positive asset to grow our respective business base, and ensure the future outlook of employees and clients.”
Keith Hall, President and Chief Operating Officer of Globecomm Systems Inc., said: “Globecomm continues to expand its value proposition as a global communication solution provider and is very excited about the addition of ComSource to the Globecomm family. Globecomm has utilized acquisitions to help diversify our capability portfolio including developing new market verticals, further expanding our global reach and building breadth to our technology capabilities. Combining Globecomm’s existing wireless reach and core engineering talent with the ComSource software engineering team will create a suite of capabilities that will be in high demand in the fast developing mobile technology market. This acquisition is an important milestone as Globecomm continues its expansion outside satellite centric applications. I look forward to working closely with the ComSource management team in creating a successful partnership”
Kramer Levin Naftalis & Frankel provided legal advice to Globecomm on this transaction, and Shulman Rogers and Lacki & Company provided legal advice to ComSource. Marriott & Co. acted as financial advisor to ComSource on this transaction.
About Globecomm Systems
Globecomm Systems Inc., or Globecomm, is a leading global provider of satellite-based managed network solutions. Employing our expertise in emerging communication technologies we are able to offer a comprehensive suite of system integration, system products, and network services enabling a complete end-to-end solution for our customers. We believe our integrated approach of in-house design and engineering expertise combined with a world-class global network and our 24 by 7 network operating centers provides us a unique competitive advantage. We are now taking this value proposition to selective vertical markets, including government, wireless, media, enterprise, and maritime. As a network solution provider we leverage our global network to provide customers managed access services to the United States Internet backbone, video content, the public switched telephone network or their corporate headquarters, or government offices. We currently have customers for which we are providing such services in the United States, Europe, South America, Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management’s current expectations and observations. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to certain risks, uncertainties and assumptions that are difficult to predict. Our forward-looking statements are based on the information currently available to us and speak only as of the date of this press release. Over time, our actual results, performance or achievements may differ from those expressed or implied by our forward-looking statements, and such difference might be significant and materially adverse to our security holders.
We have identified some of the important factors that could cause future events to differ from our current expectations and they are described in our most recent Annual Report on Form 10-K and most recent Quarterly Report of Form 10-Q, including without limitation under the captions ”Risk Factors” and ”Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and in other documents that we may file with the SEC, all of which you should review carefully. Please consider our forward-looking statements in light of those risks as you read this press release.
For Globecomm Investor Relations information, please contact: Matthew Byron
Senior Vice President, Corporate Office IR/M&A
631-457-1301 ir@globecommsystems.com
Company Information: Globecomm Systems Inc.
45 Oser Avenue
Hauppauge, NY 11788
Phone: 631-231-9800; Fax: 631-231-1557
Web: http://www.globecommsystems.com
