Video surveillance company Pro-Vigil gets investment
DALLAS—The Riverside Company, a private equity firm, in February invested in Pro-Vigil, based here, a company that sets up and monitors cameras. The amount was not disclosed.
Pro-Vigil assembles stand-alone camera systems for commercial use, incorporating cameras from a variety of vendors. The cameras and are leased to customers and watched by the company’s outsourced monitoring centers.
Jeremy White, Pro-Vigil founder and CEO, told Security Systems News that he liked the structure and plans behind Riverside’s investment. “Riverside, what they bring to the table is … lots of experience and expertise. They are the only group that we met with that actually has a plan in place that they use with all their [investments].”
The plan includes creating incremental 100-day goals and ROI decisions. “Immediately, we have several new employees here to help take off the multiple hats that a lot of our management have been wearing for a number of years,” White said.
“When we had met with Jeremy and the Pro-Vigil team, what struck us was just how big a market opportunity [Pro-Vigil] addresses,” Brad Resnick, Riverside VP, told SSN.
“We think that the number of companies using this type of product is a small percentage of those that it [could be addressed to],” Resnick said.
Riverside “encourages and promotes add-on acquisitions and growth through other forms than just organic,” White said.
“From our research the market for video surveillance services is quite fragmented, with a number of regional or super-regional players that could be attractive add-on acquisitions for Pro-Vigil,” Resnick said.
According to White, Pro-Vigil would consider acquiring “companies that have a strong hold on a potential vertical that we're interested in.” Another possibility would be if the company had technology that would benefit Pro-Vigil.
White chose not to comment on markets or geographies Pro-Vigil is currently looking at.
White listed utilities, construction and auto dealerships as the current top three industries for Pro-Vigil.
Pro-Vigil offers a $5,000 guarantee with its systems. The company will pay up to $5,000 in the event of burglary or vandalism.