News!!
December 10, 2009 01:00 PM Eastern Time
GenNx360 Capital Partners Completes Tender Offer for GVI Security Solutions
NEW YORK--(BUSINESS WIRE)--GenNx360 Capital Partners, a leading global private equity firm focusing on middle market opportunities, announced today that it has successfully completed its tender offer for Texas-based GVI Security Solutions, Inc., a premier provider of video surveillance solutions featuring the complete Samsung product line.
GenNx360 Capital Partners has retained GVI’s senior management and plans to aggressively grow GVI organically. With GVI’s vertical expertise and reputation as the leading provider of video security solutions and GenNx360’s proven operational proficiency and international reach, the newly private company is well poised to capitalize on the growing need for digital security platforms in the public and private sectors.
“GVI Security Solutions has an excellent track record and management team already in place and our partnership with them will help bolster the company’s competitive position,” said Lloyd Trotter, a founder and managing partner at GenNx360. “We already have considerable experience in the security sector and are confident it can achieve considerable revenue growth. GVI is GenNx360’s first investment in our security industry portfolio. We will continue to build by making additional acquisitions in the U.S. and overseas.”
“With GenNx360’s help, GVI will be able to manage our organic growth more effectively and be in the position to seek out the highest quality growth opportunities,” said Steven Walin, GVI’s chairman and chief executive. “As a private company, we will continue providing the same quality security solutions to our customers, and we look forward to working with the GenNx360 team to broaden those relationships, adding talent and generating new opportunities in the global security market.”
Winston & Strawn LLP acted as legal counsel to GenNx360 and Cooley Godward Kronish LLP acted as legal counsel to GVI. Imperial Capital, LLC acted as financial advisor to GVI and MacKenzie Partners, Inc. acted as the Information Agent for the tender offer.
The tender offer described in this press release was made pursuant to a tender offer statement on Schedule TO filed by GenNx360 Capital Partners and its affiliates with the Securities and Exchange Commission (the “SEC”) on November 3, 2009, as subsequently amended. GVI initially filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer on November 3, 2009, which has been subsequently amended. Those materials are available to GVI’s stockholders at no expense upon request to MacKenzie Partners, Inc. and are available at no charge on the SEC’s website: www.sec.gov.
About GVI Security Solutions, Inc.
GVI Security Solutions, Inc. (OTC Bulletin Board: GVSS) is a leading provider of video surveillance and security solutions, with sales and service representation throughout North, Central and South America. The company provides Samsung and GVI branded products, software and services to the Homeland Security and Commercial markets. Customers include governments, major retail chains, leading financial institutions and public and private school systems.
www.samsung-security.com
About GenNx360 Capital Partners
New York-based GenNx360 Capital Partners is a private equity investment firm focused on industrial business-to-business companies. Our partners have 100+ years of combined global operating experience with a strong, proven track record in creating true enterprise value through operating excellence and strong leadership. We acquire companies with proven and sustainable business models in expanding industries and implement the required operating efficiencies to accelerate growth and generate strong financial returns.
www.gennx360.com
