Parthenon Capital Partners Invests in Envysion
Feb 04, 2013 (Close-Up Media via COMTEX) --
Parthenon Capital Partners, a growth oriented private equity firm with offices in San Francisco and Boston, announced that it completed an investment in Envysion, a provider of managed video surveillance as a service for QSR, retail, wireless, convenience store and cinema customers.
According to a release, 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 highly accomplished team, has developed a cloud-based MVaaS solution providing video-based business intelligence solutions to numerous retail end-markets. Steinfort, who co-invested alongside Parthenon in the transaction, said, "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," said Andrew Dodson, 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 revolutionizing how owners and operators manage retail and restaurant locations. With better access to broadband and affordable data storage, operators can utilize 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."
Envysion was founded with the goal to provide 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.
David Ament, a Managing Partner at Parthenon, added, "Since its founding, Envysion has partnered with some of the largest, most sophisticated operators within the retail, restaurant and cinema industries. By providing these customers with powerful, easy-to-use, cloud-based solutions, Envysion has substantially increased the profitability of these customers, reduced losses, increased operational efficiency, and driven the effectiveness of marketing campaigns. Parthenon is excited to partner with the Envysion team to build upon its track record of growth and lead the industry into its next phase of expansion."
Envysion enables national retail, restaurant, cinema and convenience store operators to increase profitability 10-15 percent by video-driven business intelligence into the hands of the entire organization.
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