RETAILING
LA Firm Buys Retail-Security Unit From Checkpoint Systems
An affiliate of California private-equity firm Platinum Equity purchased the U.S. and Canadian CheckView units from Thorofare, N.J.–based retail security solutions provider Checkpoint Systems Inc.
CheckView is a security solution created for retailers that includes digital video monitoring; intrusion and fire safety alarms; a 24-hour call center for alarm dispatch; and online tools to monitor safety and theft and generate reports for follow-up and to identify crime patterns.
Last year, CheckPoint Systems’ board of directors decided to spin off CheckView as a stand-alone business and reported in its 2012 annual report that the unit discontinued operations.
“We are excited about the prospects for CheckView under our ownership,” said Platinum Equity principal Jason Leach in a statement. “Platinum has an extensive track record of acquiring corporate divestitures and maximizing their potential as standalone businesses. CheckView will act as a platform acquisition and allow us to focus on the core business while pursuing organic growth initiatives and strategic add-ons in a highly fragmented space.”
Founded in 1995 by Tom Gores, Platinum Equity has holdings that include businesses specializing in manufacturing, medical equipment sales and services, telecom, transportation and logistics, IT services and software, distribution, entertainment, equipment rental, and service and hospitality.
