News

Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, announces the sale of 3SI Security Systems, a global leader in asset protection systems and an innovator of GPS tracking technologies, to LLR Partners, a Philadelphia-headquartered lower middle market private equity firm.

3SI is a global leader in asset protection systems with more than 40 years of experience serving the financial and retail markets. 3SI’s solutions include currency degradation and GPS tracking solutions to protect cash and high-value assets for banks, retailers, and law enforcement agencies.

Over the course of its investment, Stirling Square transformed 3SI from a cash-in-transit security business to a technology-based security solutions provider for a variety of industries and sectors.

The sale marks the final exit from Stirling Square’s First Fund.

London, 30 June 2007, Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announces that its portfolio company 3SI Security Systems [3SI], the world’s leading manufacturer of electronic security systems for cash protection, has signed an agreement with IBP France [“IBP”] for the acquisition of its operations.

IBP France, created in 1993, specialises in the distribution of innovative security systems for financial institutions. This strategic acquisition confirms 3SI’s market leadership in France of smoke and dye security systems and strengthens the installed base with approximately 1.000 SmokeNote installations. As part of the transaction 3 executives will join 3SI.

3SI is the world leader in electronic cash protection solutions, supplying 91 of the top 100 banks in the USA and 27 of the top 50 banks in Europe. The company has offices and headquarters in the US and Europe.

Stirling Square has supported the 3SI management team in pursuing its strategy to enhance product offering and the geographical exposure of its business. The acquisition of IBP reinforces 3SI’s market leadership, strengthens its presence in Europe and further improves the firm’s ability to deliver on client needs.

Bolaji Odunsi, Partner at Stirling Square said: “This is the second acquisition made by 3SI this year. We see great potential for the combined business and will continue to provide strategic input and capital in order to ensure 3SI continues to grow under Stirling Square’s ownership.”

Thomas Oxenfeld, CEO, of the combined business said: “We are looking forward to working with Jacques Gallais, CEO, IBP France and his team to build on our respective successes to date and continue to serve our clients’ needs. In partnership with Stirling, we have been able to source yet another intelligent acquisition to move the business forward.”

Jacques Gallais, said: “We are excited that we will be able to expand our market presence through the 3SI distribution network and cross sell respective products. This transaction allows 3SI access to our market leading position in France and I look forward to together accelerating the development of new and innovative products and driving international growth.”

London, 15 June 2007, Stirling Square Capital Partners [“Stirling Square”], the pan- European private equity firm, today announces that its portfolio company 3SI Security Systems [3SI], the world’s leading manufacturer of electronic security systems for cash protection, has completed a deal to acquire ECA Horst Kriechbaum (ECA). The combined business will trade as 3SI.

ECA, headquartered in Klosterneuburg, Austria, is a leading European provider of bank security solutions. The company’s main products are cash degradation systems (SmokeNote and AsTec3), as well as SMS data transmission technology. The company was founded in 1988, employs 10 people and has distribution agreements in 13 European countries.

3SI is the world leader in electronic cash protection solutions, supplying 91 of the top 100 banks in the USA and 27 of the top 50 banks in Europe. The company has offices and headquarters in the US and Europe and employs 185 people.

Stirling Square is keen to support 3SI in pursuing its strategy to enhance product offering and the geographical exposure of its business. The acquisition of ECA will reinforce 3SI’s market leadership, strengthen its presence in Europe and further improve the firm’s ability to deliver on client needs.

Bolaji Odunsi, Partner at Stirling Square said: “Both businesses have strong client bases and enviable patented and proprietary products. We see great potential for the combined business and will continue to provide strategic input, capital and access to Stirling Square’s network of contacts to ensure 3SI continues to grow under our ownership.”

Thomas Oxenfeld, CEO, of the combined business said: “We are looking forward to working with Horst and his team to build on our respective successes to date and continue to serve our clients’ needs through the provision of effective solutions. In partnership with Stirling, we have been able to source an intelligent acquisition to move the business forward.”

Horst Kriechbaum, CEO, ECA said: “3SI has established an excellent reputation in the security market and is a clear market leader. We are excited that we will be able to expand our market presence through the 3SI distribution network and cross sell respective products. This transaction will allow 3SI to accelerate the development of new and innovative products and grow the business internationally.”

London, March 2006, Stirling Square Capital Partners (“Stirling Square”), the pan-European private equity firm announces that it has backed the buyout of 3SI Security Systems (“3SI”) from American Capital Strategies Ltd. (Nasdaq: ACAS).

3SI is the world’s leading manufacturer of electronic security systems for cash protection. The company’s innovative products and solutions offer protection against bank robberies; cash in transit raids and ATM thefts. About 90 of the top 100 banks in the USA and half of the top 50 banks in Europe use 3SI security solutions. The company’s main products incorporate state-of-the-art smoke and ink technology, GPS-based tracking systems and DNA Tagging systems. The company has offices and headquarters in the US and Europe and employs 165 people.

3SI’s management team, headed by CEO Thomas Oxenfeld, plan to grow its customer base in Europe and the US and enter new markets. Stirling Square will support 3SI’s new product innovation programme and international growth though its strategic input, provision of capital and access to its network of contacts.

Bolaji Odunsi , Partner at Stirling Square said, “3SI has an experienced and dynamic management team, strong customer relationships and an extensive line of patented and proprietary products. We see great opportunities for the company in Europe and further afield.”

Martin Calderbank, Partner at Stirling Square commented “We look forward to working with Tom and his team to capitalise on the opportunities ahead, in particular backing new product development and international growth. This deal is a classic example of the investments Stirling Square makes, buying and building proven market leaders”

Thomas Oxenfeld, CEO of 3SI added, “3SI has established an excellent reputation in the security market and is a clear market leader. We have a strong portfolio of products and are continually introducing new and effective solutions to stay ahead of crime. I am excited about working together with Stirling Square in ensuring the next stage in 3SI’s growth”

“American Capital is gratified to have assisted in the growth of 3SI at the board level during our investment,” said American Capital Managing Director Frank Do. “We enjoyed working along side such a high caliber management team and wish them and Stirling Square all the best in the future.”

3SI were advised by James Frommelt of Goldsmith-Agio-Helms.