Radnor, PA, October 1, 2015 – Milestone Partners is pleased to announce that on September 14th it completed the sale of Safemark, Inc. to MSouth Equity Partners. Safemark is a provider of technology-enabled secure storage, mobility and guest amenity solutions to hospitality and entertainment & leisure-related markets.
Milestone initially acquired Safemark in partnership with management in June 2008. Since then, Milestone and the company executed five add-on acquisitions that deepened the company’s technology capabilities, broadened its product offering and significantly expanded its addressable market. The company’s revenue and EBITDA both increased over 250% during Milestone’s ownership.
Partner Brooke Hayes commented, “It was a pleasure to work with George Oelschig and the Safemark team over the past several years. Through a unique combination of organic and inorganic growth initiatives, the board and management were able to position the company for future success and achieve an advantageous outcome for Milestone’s limited partners and co-investors.”
Managing Partner John Shoemaker added, “Our investment in Safemark is a great example of the type of technology-enabled services businesses we seek. Safemark has proprietary, defensible technology behind its product offering, recurring revenue, and a large and growing addressable market. We appreciated the opportunity to work with the Safemark team and wish them the best with their new investment partners.”
New Platform Investments:
- G5 is a SaaS digital marketing platform for multiple real estate verticals
- Based in Bend, OR
- Investment closed in July in partnership with PeakEquity Partners, an Enterprise Software and Solutions-focused private equity firm
- Milestone’s second software investment closed in partnership with PeakEquity (closed EnterpriseDB in December 2014)
- USAuto Sales is a used car sales and finance company
- Based in Lawrenceville, GA
- Investment closed in June 2015
- Milestone’s fifth financial services investment to date
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues companies in the tech-enabled services, software, financial services and manufacturing sectors. Based in suburban Philadelphia, Milestone was founded in 1995 and is currently investing in new platforms out of its fourth fund.