ATLANTA (February 28) – Kilpatrick Stockton announced today that it provided strategic legal and business counsel for South Carolina-based Sentry Security Systems, Inc.(Sentry) in the sale of 65% of its equity interest to Summit Park Partners and Ulysses Management, LLC. The transaction is valued at over $50 million, closed February 7.
Security Systems, Inc. of Columbia, South Carolina is the leading provider of monitored perimeter security systems to commercial customers in the United States. “It was an honor to work with a true industry leader like Sentry in developing and structuring this innovative deal,” said John Foster, Partner, Kilpatrick Stockton. “From the initiation of the sales process through the close of the transaction, Kilpatrick Stockton, in partnership with The Breckenridge Group, worked closely with Sentry every step of the way to ensure a successful outcome. This was another major transaction for us in South Carolina and we look forward to continuing to provide counsel to leading corporate entities throughout the fast-growing Palmetto State.”
Kilpatrick Stockton’s legal team included Partners John Foster in Columbia and Robbie Poplin in Atlanta, together with Atlanta Associate Martin Dozier.
The Breckenridge Group, an investment banking firm based in Atlanta, served as advisor to the seller and conducted an auction process which drew wide-spread interest in the private equity community. Principals Alan McClure and Bill Benston spearheaded Breckenridge’s advisory team.
Capital Source Finance provided the senior debt and BlackrockKelso Capital provided the subordinated debt.
About Sentry Security Systems, Inc.
Headquartered in Columbia, South Carolina, Sentry is the leading provider of monitored perimeter security systems to commercial customers in the United States with over 1,800 fence installations. The Company serves a variety of industries including auto auction, auto salvage, trucking and transportation and equipment rental.
About Kilpatrick Stockton
Kilpatrick Stockton is a full-service international law firm with more than 500 attorneys in ten offices across the globe: Atlanta and Augusta, GA.; Columbia, SC; Charlotte, Raleigh and Winston-Salem, NC.; New York, NY; Washington, D.C.; London, England; and Stockholm, Sweden. Kilpatrick Stockton’s delivery of innovative business solutions provides results-oriented counsel for corporations, from the challenging demands of financial transactions and securities to the disciplines of intellectual property management. Collaboration among Kilpatrick Stockton’s corporate, litigation and intellectual property attorneys provides knowledgeable and proactive guidance for companies at every stage of the business life cycle. For more, please go to www.kilpatrickstockton.com
About The Breckenridge Group
With over 125 years of cumulative investment banking experience, Breckenridge’s team of professionals has completed over 400 financial advisory assignments representing over $30 billion in transaction value. Based in Atlanta, Georgia, Breckenridge provides a wide range of investment banking services to middle-market businesses. The Firm’s engagements include services related to divestitures, mergers and acquisitions, as well as private placements of debt and equity.