Eyewitness Surveillance - Experts & Thought Leaders

Latest Eyewitness Surveillance news & announcements

Eyewitness Surveillance receives $25 million revolving line of credit from Capital One

Capital One’s Security Finance team provides flexible financing solutions to security companies Capital One announced that it served as the sole lender and administrative agent for a $25 million, five-year revolving line of credit to Eyewitness Surveillance, a Baltimore-based firm that provides remote interactive video surveillance solutions to mid-sized-to-large automotive dealerships, metal recycling yards, and other fixed industrial facilities.Attracting private equity capitalEyewitness will use the facility, which closed in connection with an investment from LLR Partners, to refinance existing debt and provide future growth capital needs. LLR Partners, established in 1999, is a middle-market private equity firm headquartered in Philadelphia. It has raised more than $2 billion distributed among four funds for investments in security as well as business services, education, financial services, healthcare, and software.“This transaction is a perfect example of how security firms using the latest video technologies are attracting the attention of private equity capital,” said John Robuck, Capital One’s Managing Director of Security Finance. “Thanks to its cutting-edge applications and its forward-leaning management team, Eyewitness has been able to build exciting video solutions. We look forward to working with LLR and the company as they continue to focus on growth opportunities.”Object detection analyticsFounded in 2004, Eyewitness Surveillance has compiled a record of strong organic growth by applying advanced algorithms and object detection analytics to its video systems. They customise these tools for specific locations, allowing security professionals to identify and respond appropriately to targeted behaviour. "Capital One knows their way around the security industryand appreciates the disruptive potential of these new videoand analytics technologies" At auto dealerships, Eyewitness employs its advanced analytics capabilities to deter criminal activity and to improve business operations by measuring customer foot traffic, improving employee responsiveness, and managing assets. In addition, Eyewitness’ systems can help dealerships mitigate false liability claims and damage to lot inventory. “Capital One knows their way around the security industry and appreciates the disruptive potential of these new video and analytics technologies,” said Rush McCloy, CEO of Eyewitness Surveillance. “Their team understood our approach and was able to provide flexible financing to help us grow and expand our service offering.”Improved operations“The investment from LLR and the line of credit from Capital One will help us enhance the customer experience, continue to deliver peace of mind, and help our clients improve their operations,” said RT Arnold, President of Eyewitness Surveillance.Capital One’s extensive industry expertise and streamlined approval process also meant that it could meet the transaction’s tight deadline. “Timely execution was paramount for us,” said Michael Levenberg, Vice President of LLR Partners. “Capital One closed the deal in less than 30 days from term sheet to execution.”Capital One’s Security Finance team provides flexible financing solutions to security companies that need working capital, organic creation cost financing, and/or acquisition support. Save

Eyewitness Surveillance’s $15 million finance helps video monitoring business expansion

The new financing is necessary to achieve Eyewitness’s strategic goals through its ‘zero-down’ model Eyewitness Surveillance (Eyewitness), the industry leader in remote interactive video monitoring solutions specialising in serving mid and large-sized automotive dealerships, announced recently that it has secured new financing to enable its continued expansion and business growth. Future growth & goals This new financing support, a $15 million facility from The PrivateBank, will be particularly valuable to Eyewitness as it continues to realise its strategic future growth goals within key automotive dealership and metal recycling organisations: Developing new accounts in existing and new geographic markets, particularly its new Midwestern clients, including Acura of Columbus, Superior Auto Group, Hare Chevrolet, Bettenhausen Automotive, Currie Motors, Gary Lang Auto Group, and Nickelson Industrial; Enhancing its overall product line and building on its account management and customer service structures and support teams; and Continuing to drive growth and deeper value propositions in the offering of ‘surrounding’ security services, including Eyewitness’s Sales Direct and Service Lane Kit 2.0 products. Securing this new financing is necessary to achieve Eyewitness’s strategic goals through its ‘zero-down’ model that covers the cost of new equipment and installation. One key trend that has resulted from Eyewitness’s expansion and growth achievements to-date has been the increased value clients have seen from shifting from physical guard security to the use of video monitoring and remote surveillance applications and services. Eyewitness’s clients are also able to experience first-hand benefits from operational solutions tools that go beyond security, and deliver results relating to sales and customer management, false claims, and financial compliance. This strategic approach has been a critical engine that has enabled Eyewitness to continue to penetrate and grow within its new and existing customer markets over the past several years. Strategic markets “We are thrilled to announce this new financing. Partnering with The PrivateBank will enable us to continue our nationwide footprint and further invest in innovative service offerings to deliver maximum value and return-on-investment to our customers,” said Eyewitness’s President, RT Arnold. Eyewitness will continue to build on its overall operational value offering and achieve its large-scale goal of substantial market penetration in all five of its target regions across the United States over the next 12-15 months. These efforts will also be supported by the company’s three new product offerings that are on track for announcement in the near future, including enhancements to its Service Lane Kit 2.0, Sales Direct offerings, and Inventory Snapshot. “We are pleased to provide this financing to support Eyewitness and its future growth and evolution,” Mark Melendes, Managing Director of The PrivateBank noted. “Eyewitness Surveillance is a leader in security and video surveillance and we are excited to support their growth strategy.”

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