Caltius Mezzanine Provides a $35.0M Follow-On Investment in Universal Services of America
October 30, 2011
Caltius Mezzanine is pleased to announce the recent closing of a $35.0 million follow-on investment in Universal Services of America (“USA”). Caltius’ investment was used to finance USA’s acquisition of Security Forces, Inc. (“SFI”) and provide an acquisition line for future transactions.
Headquartered in Santa Ana, CA, USA’s primary subsidiary, Universal Protection Service (“UPS”), is a leading provider of unarmed security guards to commercial office buildings in the Western US. UPS also services a broad range of facilities across a spectrum of end markets including the municipal, residential, industrial, retail, and healthcare sectors. The company’s other two subsidiaries include Universal Building Maintenance, a rapidly growing provider of janitorial services, and Universal Security Systems, which provides security alarm and access control systems and related services.
SFI, founded in 1949 in Charlotte, NC, is a leading provider of security guard services in the Southeast, with approximately 30 offices in eight states. Additionally, SFI provides systems integration through its SFI Electronics subsidiary, which has eight locations in the Southeast. SFI represents USA’s platform acquisition in the Southeast and enhances USA’s ability to service national accounts.
Caltius’ $35.0 million follow-on subordinated debt financing consisted of $27.5 million funded at close and a $7.5 million acquisition line commitment for the financing of future acquisitions.
“Caltius continues to be a reliable and valuable partner to USA, having now helped us finance five acquisitions since their initial investment in November 2009,” noted Steve Jones, co-CEO of USA. “The SFI acquisition is an important stepping stone for our organization, and we look forward to achieving continued growth nationwide.”
“USA has performed very well since our initial investment and we are excited to be able to increase our investment size in such a well performing portfolio company,” stated Greg Howorth, Managing Director of Caltius Mezzanine. “We continue to be impressed with the quality of the USA management team and their ability to make accretive acquisitions and deliver consistent and profitable growth.”
Based in Los Angeles, Caltius Mezzanine provides innovative capital solutions in amounts of $10.0 to $75.0 million to middle market companies throughout North America. Since its founding in 1997, Caltius Mezzanine has invested over $800 million in a broad range of industries to support acquisitions, recapitalizations, buyouts, and organic growth. Caltius Mezzanine is currently investing out of its fourth fund, Caltius Partners IV, LP, a $500 million fund that closed in May 2008. For more information or to refer an investment opportunity, please call us at (310) 996-9585.