ABS Capital Portfolio Company RedZone Robotics is Acquired by Milestone Partners
Radnor, PA – Milestone Partners is pleased to announce that on June 4, 2018, it led the acquisition of RedZone Robotics, Inc. from a group of private shareholders, including ABS Capital Partners.
Based in Pittsburgh, PA, RedZone (www.redzone.com) 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. 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.
John Nowaczyk, Partner at Milestone, stated: “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. RedZone has also assembled an excellent team and we are eager to support management during the next phase of RedZone’s exciting growth.”
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.