Rockbridge Growth Equity Sells Kings III of America
DETROIT, MI, September 6, 2022 – Rockbridge Growth Equity (“Rockbridge”), a partnership-oriented middle market private equity firm with a differentiated approach to building and growing companies, announced today that it has sold Kings III of America (“Kings III” or “the Company”), a leading third-party provider of elevator and pool emergency monitoring solutions across North America, to Arcline Investment Management. Financial terms of the transaction were not disclosed.
“We’re pleased with this terrific outcome, which is a result of executing on the value creation plan we developed with management at the time of our initial investment,” said Steve Linden, Partner of Rockbridge. “The Company’s transformation under our five-year ownership is a testament to management’s impressive ability to execute on an ambitious growth plan while maintaining an unwavering level of service quality and mission-critical support its customers. We are confident Kings III is well-positioned for further expansion, and we wish them the best of luck in the future.”
Under Rockbridge’s sponsorship, Kings III completed several major strategic initiatives. These include
recruiting key additions to the Company’s management team; expanding into new markets; scaling the inside sales team; acquiring a close competitor; and building out new marketing and distribution channels.
“Our journey with Rockbridge has been truly transformational, and Kings III is now well-positioned to leverage our excellent customer service reputation and take advantage of strong market demand,” said Dennis Mason, CEO of Kings III. “It has been a pleasure partnering with the Rockbridge team, and we thank them for their support as we enter this exciting new period.”
Thayer Street Partners, a New York based private equity firm, was also a minority investor and board member in Kings III and exited the Company alongside Rockbridge. Honigman served as legal advisor and Raymond James served as financial advisor to Rockbridge and Kings III.
About Kings III of America, LLC
Headquartered in Coppell, Texas, Kings III of America, LLC is a provider of all-inclusive emergency monitoring solutions for elevators and pools across North America. Kings III designs, engineers, and manufactures its monitoring equipment, as well as runs a state-of-the-art 24/7 emergency dispatch center staffed with certified emergency responders. With over two decades of service, Kings III is a critical enabler of the elevator infrastructure in the U.S. and Canada.
About Rockbridge Growth Equity
Founded in 2007, Rockbridge Growth Equity is a middle market private equity firm committed to helping both founder-operated and established companies accelerate growth and build long-term, sustainable value. Rockbridge combines the flexibility of a financial sponsor with the benefits of strategic partnership by leveraging the firm’s relationship with the Rock Family of Companies, which provides differentiated access to industry and functional expertise. Rockbridge has regulatory assets under management of over $1.2 billion since its inception across its target sectors: e-Commerce and Marketing Services, Financial Services and Fintech, Tech-Enabled Products and Services, and Digital Media. For more information, please visit www.rbequity.com.