Stealth Monitoring (“Stealth”) and Eyewitness Surveillance (“Eyewitness”) announced that they will merge, creating the North American leader in technology-driven commercial video surveillance.
Stealth, headquartered in Dallas, TX, and Eyewitness, based in Hanover, MD, are both leading video surveillance businesses focused on designing, installing, and providing pro-active remote video monitoring solutions and related services.
The combination of the two businesses will generate unprecedented capabilities and reach across North America with deep industry expertise across multiple verticals, including construction sites, auto dealers, shopping centers, apartment and office buildings, distribution yards, scrap metal facilities, and other businesses with outdoor assets or requirements for physical security guards. The combined company will build on a strong legacy of product development and technological innovation at both companies with plans for substantial investment in customer service, technology, and continuously improving operations.
“The merger with Stealth will make us stronger and even more competitive,” says Rush McCloy, CEO of Eyewitness Surveillance. “The addition of Stealth’s significant resources will add to our geographic reach, operational capabilities, product mix, and industry expertise, allowing us to better serve our customers.” R.T. Arnold, President of Eyewitness, added, “Combining the industry’s leading commercial remote monitoring companies will allow both companies to provide services to customers in a way not possible before.”
The combination of Stealth and Eyewitness will include more than 1,000 employees across 33 offices and will provide pro-active monitoring of nearly 50,000 cameras at more than 3,000 client sites across North America. StealthLabs, the technology division of the business, will have over 50 people focused on utilizing the latest technologies, whether in artificial intelligence, data insight, computer vision, robotics, or other advanced technologies to achieve the company’s vision: to build the world’s most trusted intelligent monitoring solutions.
“Together, we can invest more aggressively in top talent and cutting-edge technology, enabling us to provide enhanced solutions that will not only help us better protect client sites, but also deliver valuable business insights,” commented Rob Cherun, CEO of Stealth Monitoring. Erik Mikkelsen, President & CRO of Stealth Monitoring added, “We have discussed the merits of a partnership with Eyewitness for years and are extremely excited to officially make it happen. Their commitment to delivering world class customer service and to continuous improvement makes them a great cultural fit for us. We could not be more excited to welcome Eyewitness’s employees, customers, and partners into the broader Stealth family.”
The company will continue to be owned by its existing investors: Palo Alto/New York-based Twin Point Capital, Philadelphia-based LLR Partners, and Auxo Management, a Toronto-based investment fund founded by Cherun and Mikkelsen. Raymond James served as exclusive financial advisor to Stealth, advising on structuring of the merger and sourcing debt financing for the transaction. Debt financing for the deal was provided by funds managed by Ares Management Corporation.