The Halifax Group Acquires North American Video
“Our partnership with Halifax will accelerate North American Video’s continued growth and expansion into new security markets while providing enhanced services and support for both existing and new clientele,” Freschi said. “NAV’s business model has been and will continue to be based on three key principles: the implementation of innovative security systems solutions incorporating cutting-edge technologies; outstanding customer service and support; and responsiveness to changing technology trends and user needs. These attributes will continue to drive our business as we pursue new and exciting opportunities moving forward,” she commented. Freschi emphasized that NAV’s experienced personnel and ongoing operations will be unaffected by the transaction.
“NAV is a clear leader in the security integration marketplace. We are pleased to be partnering with a management team that has built such a successful enterprise,” said Jud Hill, managing director, Halifax.
CapitalSource, Chevy Chase, Md., provided a senior credit facility to The Halifax Group for the acquisition of North American Video Inc. The transaction included a senior term loan, a working capital line of credit, and an equity co-investment.
North American Video provides video system products and security system integration services for the gaming and casino industry, and has a significant presence in other industries including law enforcement, transportation, pharmaceuticals, government and retail.
Its headquarters are in Brick, N.J., and the company has four other strategically located offices to service the nation’s growing gaming industry. It also has offices in Caracas, Venezuela for both the South American corrections industry and the growing Caribbean gaming market. The most recent addition to the company’s footprint is Macau, from which it can serve emerging Asian gaming industry.
The Halifax Group is a private equity firm that specializes in traditional management buyouts, growth capital infusions, and industry consolidations. The Halifax Group focuses on lower middle-market transactions with total enterprise value between $25 million and $150 million.