Extra Duty Solutions Announces Significant Strategic Equity Investment from Bregal Sagemount to Support Growth
Extra Duty Solutions ("EDS" or the "Company"), a leading provider of off-duty program administration services and scheduling software solutions to law enforcement and public safety agencies, today announced that it received a significant growth equity investment from Bregal Sagemount ("Sagemount"), a leading private equity platform with a focus on growth investments in North America. The investment will support EDS's strategic growth initiatives focused on enhancing its technology offerings, expanding its geographic footprint, and growing its portfolio of solutions for law enforcement and public safety agencies.
Rich Milliman, Founder and CEO of EDS, said, "Since founding EDS in 2015, we have remained tirelessly focused on being a partner to law enforcement agencies in administering and optimizing their off-duty programs to serve the best interest of the agencies, personnel, and communities they serve. As we enter our next phase of growth, we are excited to partner with Sagemount and leverage their expertise in scaling market-leading technology-enabled businesses to accelerate our efforts to enable law enforcement and public safety agencies to operate more efficiently and effectively in delivering services in their communities. Sagemount's track record of supporting technology development and strategic acquisitions with a focus on expanding offerings to enhance customer relationships was particularly attractive as we selected our growth partner."
Capstone advised Extra Duty Solutions on the transaction and Managing Director, Tom McConnell, commented, "Since originating the extra duty administration industry over a decade ago, EDS has grown consistently and profitably with law enforcement clients in more than 32 states. EDS's rapid growth and strong customer retention are underpinned by its clear and durable value proposition. In turn, Sagemount brings deep experience supporting the success and evolution of technology-enabled service providers like EDS through investment in people, processes and technology. This partnership will enable EDS to expand its team and platform to extend its market leadership position."
"EDS pioneered the market for providing off-duty administration services and has consistently innovated its offerings to meet the evolving needs of its customers," added Blair Greenberg, Partner at Sagemount. "We are thrilled to partner with Rich and his team to support the Company in continuing to be the innovation leader in addressing the operational and human capital pain points facing law enforcement and public safety agencies."
With this growth investment, Blair Greenberg, Sean Lenahan, and Harrison Brunelli from Sagemount will be joining EDS's board of directors.
EDS was advised by Capstone Partners and Holland & Knight. Sagemount was advised by Massumi & Consoli and Paul Weiss.
About Extra Duty Solutions:
Extra Duty Solutions (EDS) is the first, largest and fastest growing provider of law enforcement off-duty program administration and on- and extra-duty scheduling software in the nation. EDS leverages cutting-edge technology to streamline administrative processes, allowing law enforcement agencies to focus on the safety of their citizens. With a commitment to client satisfaction and operational excellence, EDS is trusted by agencies across the country to manage their extra-duty programs with ease. EDS has offices in Connecticut, New Jersey, North Carolina, Florida and Texas. For more information, visit www.extradutysolutions.com and www.jivasoft.com.
About Bregal Sagemount:
Bregal Sagemount is a leading growth-focused private capital firm with more than $7.5 billion of cumulative capital raised. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 70 companies in a variety of sectors, including software, information / data services, financial technology & financial services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York, Palo Alto, and Dallas. For more information, visit the Sagemount website: www.sagemount.com or follow us on LinkedIn.
About Capstone Partners
For over 20 years, the firm has been a trusted advisor to leading middle market companies, offering a fully integrated range of investment banking and financial advisory services uniquely tailored to help owners, investors, and creditors through each stage of the company's lifecycle. Capstone's services include M&A advisory, debt and equity placement, corporate restructuring, special situations, valuation and fairness opinions, and financial advisory services. Headquartered in Boston, the firm has 175+ professionals across the U.S. With 12 dedicated industry groups, Capstone delivers sector-specific expertise through large, cross-functional teams. Capstone is a subsidiary of Huntington Bancshares Incorporated (NASDAQ:HBAN). For more information, visit www.capstonepartners.com.
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FOR MORE INFORMATION CONTACT:
For Extra Duty Solutions:
Wayne Scott, VP of Organizational Development
336-430-6340
[email protected]
For Bregal Sagemount:
Jillian Hazelton, Head of Marketing & Communications
[email protected]
For Capstone Partners:
Thomas H. McConnell, Managing Director
Aerospace, Defense, Government and Security
(303)886-2279
[email protected]