Milestone Partners Leads Acquisition of RedZone Robotics
On June 4, Milestone Partners led the acquisition of RedZone Robotics Inc. from a group of private shareholders, including ABS Capital Partners.
Based in Pittsburgh, Pennsylvania, RedZone is a technology-enabled solutions business that uses proprietary robots and software tools to provide inspection, data collection, and asset management services primarily for wastewater pipeline systems.
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RedZone’s products and services enable data-driven maintenance and capital expenditure decisions that maximize return on investment and avoid costly and dangerous system failures. The company’s end-to-end solutions include robotic hardware platforms, inspection services, data processing and hosting, and reporting and asset management software. RedZone’s autonomous Solo robots and its Profiler and Responder multi-sensor robots, as well as its ICOM software, make it a technology leader in its industry.
“Many municipal wastewater collection systems are in dire need of reinvestment. We believe RedZone’s suite of technologies is well-suited to help clients understand where the needs are most critical and how best to deploy precious budget dollars,” said John Nowaczyk, partner at Milestone. “RedZone has also assembled an excellent team and we are eager to support management during the next phase of RedZone’s exciting growth.”
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Dan Yingst, CEO of RedZone, added, “We are grateful for the support of our equity partners over the past several years and are glad we have been able to grow the business and achieve this result. We also believe we have found an excellent new equity partner in Milestone and look forward to working with them to continue our growth.”
Monroe Capital LLC provided a senior credit facility to support Milestone in the transaction. Pepper Hamilton LLP acted as legal advisor to Milestone. Capstone Headwaters LLC acted as investment banking advisor to RedZone and Goodwin Procter LLP acted as legal advisor to RedZone.
For more information about the transaction, please contact Nowaczyk or Brett Watson at Milestone.
SOURCE – Milestone Partners