Category Archives: Pamlico Capital

Secure-24 Gets Investment from Pamlico Capital

Secure-24, Inc. (“Secure-24”) and Pamlico Capital announced today that a Pamlico Capital-led investment group has made a growth equity investment in Secure-24, Inc. Secure-24, founded in 2001, is an emerging leader in business critical application hosting and cloud services with a focus on ERP applications from SAP® and Oracle®. The co-founders, Volker Straub and Matthias Horch will retain significant ownership of Secure-24 and will continue to manage the growth of the company in partnership with Pamlico Capital. The investment group included HarbourVest Partners. Detailed terms of the transaction have not been disclosed.

Secure-24 also announces that it has recruited industry veteran Michael Jennings to join the Secure-24 management team. Jennings was co-founder and CTO of Appshop, Inc. a leader in Oracle ERP hosting.

“We are extremely happy to partner with Pamlico because of its track record supporting companies and entrepreneurs as a growth capital provider,” said Matthias Horch, Secure-24 CEO. “Secure-24 has seen tremendous demand for IT infrastructure and application outsourcing services and is poised to continue to grow as companies focus on building strategic partnerships to reduce costs and improve the operation of advanced and complex IT systems. The expertise and resources Pamlico brings to our team will be critical assets to accelerate innovation, growth and market leadership.”

Pamlico Partner Scott Stevens said, “We focus on making equity investments in growing and profitable industry-leading technology companies. Secure-24 has demonstrated all the characteristics we look for; an experienced and highly capable management team, a strong competitive position, an industry-leading technology platform, and a superior service delivery model. Secure-24’s focus on helping companies increase business value through their IT investments provides them the opportunity for impressive growth in the years ahead.”


Securadyne Systems Acquires Surveillance Specialties

Securadyne Systems, LLC  and Pamlico Capital announced today that they have completed the acquisition of Surveillance Specialties, Ltd., a  New England-based security systems integrator. The SURV acquisition is the second for Securadyne, which was founded in February 2012 in partnership with Pamlico.

“The acquisition of SURV, which enjoys a commanding market presence in New England, ideally complements our build-up strategy focusing on best-in-breed operating platforms,” explained Carey Boethel, President and CEO of Securadyne Systems. “The addition of SURV considerably expands our geographic reach and our ability to deliver high-end, fully integrated solutions in a number of key vertical markets,” Boethel added.

SURV was founded in 1986 as a covert surveillance company by Arthur and Joan Bourque. The company changed its business model to a full-service systems integrator in 1999. Since then, the company has achieved considerable and consistent growth, and has emerged as the top independently-owned and operated security systems integrator in New England. SURV currently has branch offices in Wilmington, MA and Portland, ME.

Arthur Bourque, President and CEO of SURV, stated “We were fortunate to have a number of viable strategic alternatives for our business, but it was clear that Securadyne represents the future of our industry and is the best possible fit for SURV’s employees, customers and shareholders. We’re very excited about joining the Securadyne team and the opportunities for growth that will be created by this partnership.”

Mr. Bourque will join Securadyne’s Board of Directors and be active in setting the business’s strategic direction and helping with future M&A activities. Justin Davis, Chief Operating Officer for SURV, will join the Securadyne Systems executive team and will be responsible for leading the company’s Northeast Region.

Stuart Christhilf, Principal at Pamlico, noted “We are excited to be partnering with Arthur, Justin and the SURV team, as their passion for integrity, quality service, and industry-leading technologies represent exactly what we are trying to build with Securadyne. We expect them to be valuable contributors as we look to expand the combined business going forward.”