Egis Capital Announces Successful Exit of ACRE, a Global Provider of Access Control Security Systems
SUMMIT, N.J., March 19, 2021 /PRNewswire/ — Egis Capital Partners (“Egis”) is pleased to announce that it recently realized its equity investment in ACRE, LLC (“ACRE” or “the Company”), a global leader in the delivery of security systems for access control, security video networking and commercial intrusion systems. The software and solutions provided by ACRE’s family of companies (Vanderbilt, Open Options, RS2 Technologies, ComNet and Razberi) help secure the highest valued assets of large and small customers operating in the private and public sectors.
The partnership with ACRE and Joseph Grillo, ACRE’s CEO and Egis Industry Advisory Board member was initiated in 2013, and since that time, the Company has completed eight acquisitions and had a very profitable sale of its Mercury division in 2017. Egis works with security industry management teams to identify opportunities for investment in the Security and Protection industry. During Egis’s hold period, ACRE became one of the largest independent providers of access control and electronic security solutions in North America and Europe.
“When I founded ACRE, I knew Robert Chefitz and Egis Capital would be a trusted partner that had deep expertise in the Security Industry, a proven track-record of success, and the vision to see the opportunity ahead for ACRE,” said ACRE CEO Joseph Grillo. “Robert was our first investor to commit and through his personal relationships with LLR we were able to build out the capital structure. Since our initial acquisition, Robert has been instrumental in supporting our ongoing efforts to make add-on acquisitions that broadened our geography and technology.”
Robert Chefitz, Egis Founder and Managing Partner, stated, “Joe Grillo has done an excellent job in building his team and delivering an outstanding result for shareholders. ACRE has continuously been able to attract and acquire interesting brands in the security space. Joe and his team have been brilliant in integrating these companies into a very profitable business.”