Under LOI: Mid-Atlantic electronic security integrator (~$6M EBITDA), raising equity
Hi all, I signed an LOI to acquire an electronic security integrator in the Mid-Atlantic, and I'm raising the equity now. I'll run the company as CEO after close. The business designs, installs and services video surveillance, access control and intrusion systems for institutional and public-sector customers. What I like about it: - About $6M of TTM adjusted EBITDA (pre-QoE), and revenue has more than doubled since 2023 - A fast-growing share of private and institutional work, much of it through general contractors the company already works with - 4.6x TTM adjusted EBITDA, with the sellers financing over a third of the price through a note and a rollover - One of the sellers stays on to run field operations - Only about 15% of revenue is recurring today, and most installed systems have no service agreement, so there's room to build a service and monitoring base I'm raising $8–10M of equity alongside senior debt. A lead investor will hold the majority, and other investors come in as a minority with a board seat. About me: I was on the founding team of an e-commerce company that Essilor acquired, then spent nine years at Amazon, most recently leading product for Alexa Shopping. MIT Sloan MBA. I'm investing on the same terms as everyone else. If you'd like the teaser, send me a message here. The memo and model are available under NDA. I'd also welcome intros to investors with ties to the Mid-Atlantic who could lead.