The Halifax Group announced the acquisition of North American Video (NAV), Brick, N.J. Cynthia Freschi, NAV founder and chief executive officer, will retain a significant stake in the company and continue to serve with the existing senior management team.
“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
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
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.