Parent company Schneider Electric entered into exclusive negotiations to sell off Pelco to Transom back in March.
Pelco provides design, development and manufacturing of predictive video security solutions including cameras, recording and management systems, software, and services.
Russ Roenick, managing partner at Transom, said in a prepared statement, “As most security industry experts know, Pelco is one of the pioneers of the video surveillance space. The journey toward creating the next great breakthroughs in video security begins today through our investment in Pelco. We have conviction that the work done over the past several years to transform the company into a digitally-savvy security leader with innovative hardware, software and service solutions is nearly complete. We are excited to partner with management to grow the business for many years to come.”
Jean-Marc Theolier, CEO, Pelco, said, also in a prepared statement, “As we surveyed the landscape of potential partners, our primary goal was to commit with a company who appreciated Pelco’s legacy, as well as supported our current business strategy and growth plan. Transom strongly believes in our unique value proposition to be an end-to-end solutions provider, and has encouraged us to continue doing what we do best! We are excited to work with Transom, and to develop new and innovative solutions to best serve our business partners.”
Terms of the transaction were not disclosed. Transom was represented by Latham & Watkins as M&A counsel and Perkins Coie as debt finance counsel on this transaction. Wells Fargo provided the debt financing for the transaction. R.W. Baird served as financial advisor to Pelco on this transaction.