BOSTON, July 13, 2020 /PRNewswire/ -- BV Investment
Partners ("BV"), a middle-market private equity firm focused on the
tech-enabled business services, software and IT services sectors,
announced today an investment in Becklar, LLC ("Becklar" or the
"Company"), parent company of independently operated and
complementary sister companies, Freeus and AvantGuard, in
partnership with company founder and Chief Executive Officer
Josh Garner.
Becklar, based in Ogden, UT,
was formed in 2017 by Josh Garner to
unite the complementary Freeus and AvantGuard businesses under one
entity. Freeus provides mobile personal emergency response
system ("PERS") solutions to life safety, security and technology
businesses nationwide. Freeus' full solution bundles mobile
PERS devices, a proprietary device management software platform,
cellular connectivity and event response monitoring services.
AvantGuard is a technology-forward wholesale monitoring
provider that offers critical event response services to the
security, fire, PERS and IoT industries across all 50 states,
Puerto Rico and Canada.
Justin Garrison, Managing
Director of BV Investment Partners, said, "For a number of years we
have been working to execute on an investment thesis around
wholesale monitoring and PERS. These industries provide
critical life safety technology and services, and they benefit from
a number of growth drivers including demographic tailwinds, the
desire of seniors to have the freedom to age in place, IoT
adoption, and the trend towards outsourcing commercial and
residential monitoring to leading wholesale providers like
AvantGuard. We have gotten to know Josh and the Becklar team
over the last several years; they are a terrific group and have
established a leading position in the wholesale monitoring and PERS
industries through careful investment in technology, process and
people. We're looking forward to be working in partnership
with them to execute on a compelling growth strategy."
Mr. Garner, said, "Driven by the quality and dedication of the
Becklar team, investment in technology, and the good fortune of
positive market trends, Becklar has grown rapidly. Together
with BV we're pursuing a number of organic growth opportunities,
including the overall growth in the mobile PERS market, developing
new products and services, meeting emerging monitoring needs, and
expanding our software development capabilities for a number of end
markets. We also plan to pursue sizeable M&A opportunities
which had previously been out of our reach without a partner like
BV. The BV team has a long history of working with
founder-owned companies, has experience in our sectors, and we are
excited to be working with them." Mr. Garner is retaining a
sizeable equity stake in Becklar and plans to remain highly engaged
with the business.
Sam Axelrod, Vice President of
BV, said, "From our initial meeting we have been enormously
impressed with the Company, its team, and its service and product
offerings. Freeus and AvantGuard are differentiated
businesses that operate in two growing markets. Both companies are
well-regarded in the industry and known for high quality solutions
and service levels. We're looking forward to being a key part
of Becklar's future as the Company continues to grow and provide
the highest levels of service."
In addition to Justin Garrison
and Sam Axelrod, Vikrant Raina, CEO and Managing Partner of BV,
will be joining the Company's Board of Directors alongside
Josh Garner.
The Edmonds Group acted as exclusive financial advisor to
Becklar for the transaction.
About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced
sector-focused private equity firms in North America.
Since its founding in 1983, the firm has invested approximately
$3.7 billion, actively targeting
investments in the business services, software and IT services
industries. For more information, please
visit www.bvlp.com.
About Freeus, LLC
Freeus is a wholesale provider of revolutionary mobile medical
alerts, powered by its award-winning Orion platform. For more
information on Freeus, visit www.freeus.com.
About AvantGuard Monitoring Centers, LLC
AvantGuard provides professional third-party monitoring and event
response services to dealers throughout North America in the security alarm, PERS, and
IoT industries. For more information on AvantGuard visit
www.agmonitoring.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE BV Investment Partners