RMS Technology Solutions, Inc. announced today that Generation 3 Capital and WF Security Fund have led a recapitalization of RMS, a leader in internet protocol-based video surveillance systems. RMS' systems are used by municipalities for law enforcement and other institutions where public safety is a concern. RMS' President Rick Rubenstein and Vice President Paul Zucker, co-founders of the Company, will retain a significant equity stake in the Company and remain in their current positions. John Waller, a Managing Director at Plaisance Advisors, was the lead investment banker on this transaction, the terms of which were not disclosed.
"Working with our new partners will enable RMS to accelerate its growth and enhance our strong commitment to providing our customers outstanding service," said Mr. Rubenstein. He added, "The leaders of Generation 3 and WF Security Fund have a track record of building excellent, well-respected businesses. We are confident that their experience, combined with RMS' abilities and reputation, will solidify our position in the market and enable us to continue to serve demanding customers."
"We have long been a technology leader and having this new partnership will enable us to further extend our capabilities. Technology is playing an increasingly important role in law enforcement and public safety, and we intend to stay at the forefront of the trends," said Mr. Zucker.
"Rick and Paul have built an excellent business over the past 30 years," added Jim Coleman, Managing Director and founder of Generation 3. "We look forward to working with them to extend their presence nationally and into areas where their capabilities will give them a competitive advantage."
The market for IP-based video surveillance technology is expanding about 15 percent per year and RMS' main market -- wireless IP surveillance -- is expanding at an even faster rate, according to many industry sources.
"We were fortunate" said John Waller, a Managing Director at Plaisance Advisors, "to have an opportunity to work with RMS on this transaction and we are confident that RMS will do very well with their new investor-partners. Rick and Paul clearly choose to work with a high-quality group of private equity firms and in the long run this will prove beneficial as they continue growing RMS."
About Plaisance Advisors LLC
Plaisance Advisors provides cost effective mergers and acquisition advisory services to world-class, industry-leading companies. With nearly 20 years of investment banking experience we have developed significant industry expertise in select industries, global relationships, and a keen understanding of how to best position a business for sale. Our clients include private business owners, private equity firms, and some of the largest corporations in the country.
John Waller, Managing Director