Seacoast Capital Makes Initial Growth Capital Investment in OnSSI
Seacoast Capital, a lower middle market non-control equity and debt investor, announced today its initial $16 million growth capital investment in OnSSI (On-Net Surveillance Systems). OnSSI, founded in 2002 and based in Pearl River, N.Y., is an independent provider of IP-based video management software (VMS) and services used to manage video surveillance cameras and other security edge devices.
Seacoast’s first investment in the company will be used to leverage OnSSI’s proprietary technology and reputation to extend product lines into the middle market with an easy-to-install appliance and to expand the Business Video Intelligence (BVI) business of an affiliate. Seacoast’s will also provide OnSSI with access to additional working capital over the entire term of its investment, ensuring the company can take advantage of future business initiatives on a global scale while also providing for a conservatively structured and strong balance sheet.