DTT Closes $80 Million Facility With Capital One, Acquires LP Innovations
DTT, a provider of video-based managed service solutions to the hospitality and C-Store industries, announced the closing of an $80 million debt facility led by administrative agent Capital One and CapitalSource, a division of Pacific Western Bank. The facility will be utilized primarily for the acquisition of LP Innovations Inc. (LPI), a loss prevention provider to the retail industry and for additional growth capital.
“We are very excited to join forces with the LPI team led by Steve May. LPI is a venerable Loss Prevention company with over 20 years of excellence in the retail industry,” said Sam Naficy, CEO and founder of DTT. “The merger makes DTT the first and only company that can provide clients with a full suite of LP solutions across multiple industries, merging standard LP solutions together with leading-edge solutions, including BI Tools, POS integration, video analytics and remote audits.”