OMAHA, Neb.--(BUSINESS WIRE)--Vigilnet America LLC (“Vigilnet” or the “Company”), a provider of electronic monitoring services to the criminal justice system, today announced that it has been acquired by Monroe Street Partners LLC (“MSP”), a Chicago-based private equity firm. Terms of the deal were not disclosed.
Headquartered in Omaha, NE, Vigilnet provides a comprehensive suite of electronic monitoring services to more than 130 agencies across five states and has effectively monitored more than 100,000 offenders since inception. As a mission critical partner to local and state-level government agencies, Vigilnet’s technology-enabled services play an essential role in supporting offender rehabilitation, alleviating prison overcrowding, protecting communities, and reducing government costs.
In conjunction with the transaction closing, Jake Dawes, who has led the company since 2007, will remain as Vigilnet’s President & CEO. Dawes stated, “I am thrilled for the opportunity to partner with MSP to continue our company’s vital mission of rehabilitating offenders, keeping communities safe and offering a compelling and cost-effective alternative to incarceration.”
Alex Foshager, Managing Partner at MSP, noted, “We are delighted to partner with Jake and the Vigilnet management team, as the company has established itself as a leading electronic monitoring services provider in the United States.” Foshager continued, “As one of a select few service providers with significant scale and a growing national presence, this partnership will enable us to support key growth initiatives, with a particular focus on strategic acquisitions.”
Kenneth Mill, Managing Partner at MSP, noted, “We look forward to building upon Vigilnet’s long-standing reputation for reliability and service quality to accelerate growth. The United States has the highest incarceration rate in the world, and we believe community-based correctional alternatives such as electronic monitoring will continue to play a critical role in reforming our criminal justice system.”
Oxer Capital provided debt financing for the transaction and Ice Miller LLP served as legal counsel for MSP.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alex Foshager (alexfoshager@monroestreet-partners.com) or Ken Mill (kennethmill@monroestreet-partners.com)
About Vigilnet
Since 2006, Vigilnet has helped courts, probation offices and other agencies implement effective programs for electronic offender monitoring that reduce costs and protect communities. The Company services more than 130 agencies across the country that has effectively monitored over 100,000 offenders since inception. For more information on Vigilnet, please visit www.Vigilnet.com.
About Monroe Street Partners
Based in Chicago, IL, Monroe Street Partners is an operationally focused investment firm formed to build a concentrated portfolio of family and founder-run businesses across the Business Services and Industrial sectors. MSP is led by Managing Partners Alexander Foshager and Ken Mill who founded MSP in 2022 after serving in Goldman Sachs’ Investment Banking Division. MSP’s objective is to partner with experienced operators to acquire, grow and improve businesses in the lower-middle market. For more information about Monroe Street partners, please visit www.monroestreet-partners.com.
https://www.businesswire.com/news/home/20230213005028/en/Monroe-Street-Partners-Completes-Acquisition-of-Vigilnet
