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Imperial Capital Security Practice Overview Discussion Materials October 2008 December 2019 Imperial Capital, LLC Security Practice Overview
Imperial Capital Security Practice Overview
Discussion Materials
October 2008
December 2019
Imperial Capital, LLC Security Practice Overview
Introduction to Imperial Capital
Investment Banking Institutional Sales
& Trading Research
Mergers &
Acquisitions Restructuring Finance Equity Fixed Income Equity Fixed Income
Imperial Capital is a nationally recognized full service investment bank with an integrated platform
Firm Overview
Introduction to Imperial Capital
3
Boston Chicago Houston
London
Los Angeles Minneapolis New York
Stamford Tel Aviv
Media & Entertainment
Security & Homeland Security
Telecommunications & Technology
Aerospace, Defense &
Government Services
Airlines & Transportation
Business Services
Investment Banking
Equities
Active trader of middle market equity
securities
Public equity / PIPEs
Preferred stock
Equity Linked / Hybrid Securities
Convertible debt / preferred
Subordinated debt
Fixed Income
High Yield
Unitranche
Asset or cash-flow based bank lending
Mezzanine stressed financings
Sellside advisory
Buyside advisory
Board advisory / Strategic alternatives
Public and private companies
Deep industry knowledge
Strong auction process
Extensive advisory experience combined
with capital markets distribution
capabilities
Represent
Debtors
Secured / unsecured creditors
Equity
Committees
Acquirers (companies, assets, claims
and securities)
In- and out-of-court services
Extensive expert testimony experience Public or private situations
Broad range of transactions or securities
covered
Vertical Industry Groups
Restructuring & Recapitalization Mergers & Acquisitions Financings
Valuations & Fairness Opinions
Consumer
Energy (Clean & Traditional)
Financial Services
General Industrial
Healthcare
Real Estate, Lodging & Leisure
Introduction to Imperial Capital
Investment Banking
4
5
Institutional Sales and Trading
Introduction to Imperial Capital
Institutional Sales and Trading
Focus on illiquid and larger credits
Experienced team sourcing and placing bank debt
Experienced settlement group with legal and
accounting background
Capital structure arbitrage
Second lien debt
Bank Debt
High Grade / Hybrid Capital Group
HY & HY Capital Securities, (Hybrids) & HG Non-
Finance Capital structure
Dedicated to Global Financial Institution coverage
Proprietary ELP Relative Value process and Portfolio
Trading Table for Hybrid securities
Active across entire issuer’s capital structure: $US,
Euro and Sterling (GBP)
Primarily $2 billion and below issue size
Comprehensive institutional coverage
Significant capabilities in illiquid issues
Public and private convertible debt / preferred equity
Corporate Repurchase advisory services
High Yield
Traded over 876 million shares of equity securities
and 1.5 million equity option contracts in 2018
Expertise in:
Identifying and trading undervalued securities
supported by in-depth research
Block execution of thinly-traded public and
private equities
Discrete transactions for high-profile
counterparties
Trading special situations, small-cap &
orphaned securities
Equity
Imperial Capital’s capital market professionals traded approximately $31.5 billion face of debt in 2018,
and cover over 2,500 institutional investors including Mutual Funds, Private Equity and Hedge Funds
General Industrial
Healthcare
Media & Entertainment
Real Estate, Lodging & Leisure
Security & Homeland Security
Telecommunication & Technology
Aerospace, Defense &
Government Services
Airlines & Transportation
Business Services
Consumer
Energy
Financial Services
Focus on timely, trading-oriented analysis of
event-driven and/or capital structure
opportunities
Expertise in bankruptcy and legal-process
driven situations
Targeted research on special-situations from
trade claims to post-reorganization equities
Team of dedicated equity analysts providing
coverage of more than 140 companies
Emphasis on relative value opportunities
within and across industry sectors
Focus on small and mid-cap equities, typically
ranging from $150 million to $2.0 billion in
market capitalization
Provides coverage of entire capital structure of
the issuer to aid institutional clients
Emphasis on inefficiently priced and under-
covered situations
Publishes research across the quality spectrum,
from high grade to cross-over, high yield, fallen-
angel and distressed
Special Situations Coverage
Desk Analysis
Company Specific Coverage
Industry Coverage
Capital Structure Analysis Equity & Industry Analysis
Institutional Research
Institutional Research
Introduction to Imperial Capital
6
Protection of Smart Grid & Critical
Infrastructure
Risk Management & Safety
Surveillance Technology
Imperial Capital will hold its 16th Security Investor Conference
on December 10 – 11, 2019 at the InterContinental New York
Barclay
Deepest Security coverage of any conference anywhere;
from Technology to Services and Logical to Physical,
crossing both Commercial-Industrial and Government
markets including:
Access control
Alarm monitoring & home automation
Cloud Security and Privacy
Cyber Security
Guard Services
Homeland Security
Identity Solutions
Information Security
Representative Security Investor Conference Presenting Companies
Annual Security Investor Conference
Introduction to Imperial Capital
7
Industry Coverage
We publish quarterly industry reports and periodic white papers on several sectors
Reports include industry specific trends and outlook, including:
Macro-economic overview and outlook
Analysis of recent Financing, M&A and Restructuring activities
Current environment outlook for transactions
Sub-sector specific industry trends and analysis
As part of our industry coverage, Imperial bankers attend relevant industry events and tradeshows to keep active dialog with
companies in the sector
Maintain strong relationships with industry executives
Introduction to Imperial Capital
8
Security Focus
Quarterly reports are published covering the Security Industry
Tracking of macroeconomic trends
Analysis of trends in acquisition activity
Public company and M&A valuations
Selected debt and equity financings
We specifically analyze three subsectors:
Physical Security
Identity Solutions
Information Security / Cyber
Publish white papers on trending sector themes such as home
automation, residential services, anti-counterfeiting and brand
protection
Attend relevant industry events to keep an active dialog with
companies in the sector
Maintain strong relationships with key industry executives and
acquirers
Deep Industry Knowledge and Relationships
Introduction to Imperial Capital
9
Relevant Knowledge: Imperial Capital has a deep & broad understanding of the security industry We have many years of experience conducting M&A and financing in this space
We have an intimate knowledge of the key industry players and can leverage existing relationships to benefit our clients
Experience: The Imperial Capital security team has both extensive banking and operational backgrounds Over 85 years of industry specific banking and operating experience among the four senior bankers
We understand the importance of strategic considerations in both acquisitions and divestitures as well as the difficulties of
their execution
Strategic Advice: Understanding our client’s strategy is a top priority We are not afraid to tell our client that a potential transaction is not in its best interests
Research: Quarterly reports are published covering the Security Industry Tracking of macroeconomic trends
Analysis of trends in acquisition activity
Public company and M&A valuations
Selected debt and equity financings
Conferences: Imperial Capital’s annual Security Conference has grown over the last 16 years to become the industry’s
premier strategic event
Transactions: Imperial Capital has advised on recent key transactions within the Security Industry including
Acquisition of Convergint Technologies by ARES Management
ADT’s initial public offering
Interface Security Systems’ recapitalization and notes exchange
ShotSpotter's initial public offering
Acquisition of SDI’s Integrated Security Systems Division by Convergint Technologies
Merger of ipDatatel and Resolution Products (and subsequent recapitalization)
Truly Unique Combination of Banking and Operational Experience in Security
Introduction to Imperial Capital
10
John E. Mack III has over 25 years of experience as an
operator, acquirer and banker in the Security and
Monitoring Services sectors
Imperial Capital – EVP, Co-Head of Investment Banking,
Head of M&A, Head of Security Practice Group
Leader in security industry investment banking
USBX Advisory – Founder & CEO
Leading boutique investment bank in the security industry
Sold to Imperial Capital in 2007
Protection One (NYSE listed) – CEO & Board Member
Oversaw growth from 30,000 subscribers and $17MM in revenue
to more than 1.6 million subscribers and $600MM in revenue
Acquired 200 companies in 10 year span
Enterprise value of over $2 billion
Raised over $2 billion in public debt and equity
Westec Security – VP Sales
M.B.A. from the University of California at Los Angeles
B.A. from Stanford University
John E. Mack III Bill Lynch
Bill Lynch has over 18 years of experience as a banker
in the security, maritime technology and repetitive
income service business
Imperial Capital – Managing Director
Leader in security industry investment banking
ProFinance Associates – Vice President
Focused on providing M&A and strategic advisory services to
clients in the security and life-safety, maritime technology, and
recurring revenue service business sectors.
In security and life-safety, he has managed and completed
transactions in software, hardware, sensors, recurring revenue
monitoring, and integration service businesses
Industrial Gypsum Division of USG Corporation
Led strategic and capital planning, distribution, marketing, and
sales with responsibility for the general management of the
western United States
B.S. from Menlo College
Introduction to Imperial Capital
Senior Team Comprised of Highly Experienced Bankers
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Rick Juarez
Rick Juarez has over 20 years of experience as a banker
in the Technology and Software sectors
Imperial Capital – Managing Director
Leader in cloud security, infrastructure software and service
investment banking
Waller Capital – Managing Director
Leading boutique investment bank in the technology, media and
telecom industry
Morgan Joseph TriArtisan – Co-Head of Technology
Investment Banking
Advised numerous infrastructure companies
Nollenberger Capital Partners – Head of Investment Banking
Robertson Stephens & Co. – Managing Director
M.B.A. from the Harvard Business School
B.S. from California State University, East Bay
Koby Tanzer has over 15 years of experience as a
banker in the Security and Technology sectors
Imperial Capital – Senior Vice President, Head of Israel
Office
Member of the Security Practice Group since 2008
Focused on a range of corporate finance transactions for
companies in the surveillance, alarm, video, access control,
UAV/UAS (drone), homeland security and defense sectors,
among others
Lehman Brothers – Investment Banking Division
Business Services and Financial Sponsors Groups
Focused on M&A advisory, leveraged finance, and equity
underwriting transactions.
B.A. from the University of California at Los Angeles
Chartered Financial Analyst (CFA) charter holder
Israel Defense Forces – Sargent, Infantry Sapper,
Combat Engineers
Koby Tanzer, CFA
Introduction to Imperial Capital
Senior Team Comprised of Highly Experienced Bankers (cont.)
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Security Industry Public Equities Research Coverage
Mr. Kessler is a Managing Director in the Institutional Research Group. Mr. Kessler has more than 25 years of experience covering
security industry for the investment community. He joined Imperial Capital in 2008 from Lehman Brothers where he had served 21 years
as the senior security/business services analyst. He was named in December 2006 by Security Magazine as one of the industry’s “25
Most Influential Leaders.” In addition to publishing the Security Industry Annual, and Imperial Capital’s Security Monitor, Mr. Kessler co-
founded the Securing New Ground industry conference, which is run by the Security Industry Association and is now in its 17th year. Mr.
Kessler earned a Bachelor of Arts degree in political science / economics from McGill University, a Master of Arts degree in political
science/economics from McGill University, and a Master of Science degree in journalism from Columbia University.
Jeff Kessler, Managing Director
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Introduction to Imperial Capital
Select Security Investment Banking Transactions
Introduction to Imperial Capital
Financial Advisor to ComQi, Ltd.
WAS ACQUIRED BY
March 2018
(NYSE: AUO)
INITIAL PUBLIC OFFERING
August 2018
$187,956,000
Co-Manager
July 2018
Exclusive Financial
Advisor to MiOS LTD
WAS ACQUIRED BY
A portfolio Company of
Financial Advisor to the Company
July 2018
WAS ACQUIRED BY
May 2018
Financial Advisor to
IntelliVision Corp.
ACQUIRED
Exclusive Financial Advisor to
On-Net Surveillance Systems, Inc.
December 2018
WAS ACQUIRED BY
A portfolio Company of
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Exclusive Financial Advisor to
Bradford Airport Logistics
January 2019
GROWTH EQUITY FINANCING
Financing Advisor to KEYper Systems
January 2019
WAS ACQUIRED BY
Exclusive Financial Advisor to
LifeSafety Power
August 2019
WAS ACQUIRED BY
Exclusive Financial Advisor to
I-View now
October 2019
WAS ACQUIRED BY
Exclusive Financial Advisor to
OpenEye
October 2019
WAS ACQUIRED BY
(NASDAQ:ALRM)
Financial Advisor to Buyer
November 2018
ACQUIRED
RECEIVED EQUITY GROWTH
FINANCING FROM
Financial Advisor to Ocean Aero, Inc
and
August 2019
Exclusive Financial Advisor
Interface Security Systems
$290,000,000
SENIOR CREDIT FACILITY
LED BY
August 2019
Exclusive Financial Advisor to
Princeton Identity
EQUITY FINANCING
November 2019
Select Security Investment Banking Transactions (cont.)
Introduction to Imperial Capital
Financial Advisor to Johnson Controls, Inc.
April 2016
WAS ACQUIRED BY
ENERGYCONNECT GROUP, INC.
a subsidiary of
a portfolio company of
WAS ACQUIRED BY
Exclusive Financial Advisor to
FJC Security Services, Inc.
September 2016 November 2016
COMMON STOCK &
WARRANTS
Co-Manager
Sole Placement Agent
April 2017
$150,000,000
RESTRUCTURING
SENIOR SECURED NOTES & PREFERRED EQUITY
Financial Advisor
June 2017
$35,400,000
June 2017
INITIAL PUBLIC OFFERING
Co-Manager Exclusive Financial Advisor
$600,000,000
RECAPITALIZATION WITH NOTE EXCHANGE
July 2017
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Financial Advisor to Acorn Energy, Inc.
SALE OF 50% INTEREST TO
April 2016
A Subsidiary of Acorn Energy
WAS ACQUIRED BY
Exclusive Financial Advisor to UCIT Online Security Inc.
November 2016
AND
August 2017
HAVE MERGED
Financial Advisor to ipDatatel, LLC &
Resolution Products, Inc.
Exclusive Financial Advisor to SDI Presence LLC
September 2017
has sold its
INTEGRATED SECURITY
SYSTEMS DIVISION
to
Exclusive Financial Advisor to ATCi Communications, Inc.
WAS ACQUIRED BY
A portfolio Company of
January 2018
Financial Advisor to AlarmForce and Rendered
Fairness Opinion
WAS ACQUIRED BY
January 2018
$184,000,000
Financial Advisor to
Ares Management, L.P.
A portfolio Company of
ACQUIRED
February 2018
$1,470,000,000
Co-Manager
INITIAL PUBLIC OFFERING
January 2018
Security Industry Overview
Security Industry Overview
Global Security Industry garners approximately $393 billion in annual revenues at
the manufacturing level
Estimated Global Security Industry Revenue
($ in billions)
Access Control / ID Solutions
$14
Biometrics
$3.3
Homeland Security
$7
Video Surveillance
$21
Alarm Monitoring
Equipment
$15
Information Security
$125
Fire Monitoring
Equipment
$5
AIDC /
Asset Intelligence
$30
Manned Guarding
$44
Other
$8
Systems Integration
$15
Alarm Monitoring
$70
Armored Transport /
Cash Logistics
$19
Consulting, Intelligences
& Investigations
$12
Services
$168
Global Security Market
$393 Billion
Products
$225
Note: Automatic Identification & Data Capture (AIDC).
Source: ADT Corp., AlixPartners, Freedonia, Gartner, IHS Research, Meticulous Research, and Imperial Capital, LLC.
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Other
$8
~$390 Billion in End User Revenues
Residential Enterprise / Commercial Government
Access Control
Armored Transport/Cash Transit
Asset Tracking
Audio Surveillance
Background Screening
Brand Protection
Chem/Bio/Nuclear Screening
Command and Control Systems
Disaster Response and Recovery
Electronic Article Tracking
Explosives Detection
Felon Monitoring
Fire Systems and Sprinklers
Fraud Prevention
Intrusion Alarm Systems
Investigation Services
Mass Notification
Perimeter Security
Private Corrections
Security Consulting/Training
Security System Integration
Tactical Public Safety Products
Uniformed Security Guards
Video Surveillance
Video/Access as a Service
Physical Security
Security Industry Overview
Now a massive, multi-segment, fragmented industry…
Badging Systems
Brand Protection & Product Authentication
Converged Physical / Logical Access
Credentialing and Enrollment
E-Passport
Forensics
Identity Management
Location and Tracking Technologies
Mobile ID
Multimodal Biometrics
Optical Memory
Provisioning
RFID/Auto ID
Smart Cards
Verification
Vetting and Data Management
Video Imaging/Live Scan
Identity Solutions
Application Quality Assurance
Application Security
BYOD
Collaboration Tools
Command Center Management
Compliance and Risk Management
Data Analysis and Conversion
Data Hosting
Desktop Security
Document /Media Exploitation
Encryption Products
Enterprise Mission Management
IT Consulting
IT Security Analysis and Management
IT/Systems Integration
Mobile Communications
Network Security
Storage Security
Systems Engineering
Vulnerability Assessments
Information Security
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Security Industry Trends
Alarm
Monitoring and
Smart Home
Alarm dealers are shifting focus to commercial and adopting new technologies and business
models to compensate for challenges in the residential sector
High leverage continues to be an industry challenge in the residential sector
The broader industry is benefiting from greater market awareness of technologies promoted by
big budgeted DIY (Amazon, Google, etc.), MSO and other larger service providers
DIY continues to be a great entry system for consumers, especially renters
Vivint Smart Home is going public through a reverse merger providing an additional public window
into market trends and health
Synergies between IoT devices and smart platforms Lifestyle cognitive systems gaining
mass adoption with the top use case being safety and security
Verification of alarm signals is an increasingly important issue to address false alarm problems
IoT Devices
Increasing need for improved security built into IoT devices to provide enhanced protection
Encryption and authentication will be critical to address privacy risks
Continuously connected cloud-based AI solutions providing enhanced visibility, insight and
predictive capabilities
Business and situational intelligence emerging from new sensor content mash-ups
Improving but still early stages for interoperability between IoT devices from different OEMs
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Security Industry Trends
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Security
Systems
Integrators
Increasing number of integrators with true “IT IQ” beyond physical security
Extending to human resources and facilities management including SCADA systems
Integrated security, energy management, etc. Completely integrated building IoT
Cyber security Protection of networked security and building management systems
Rapid advances in technology automation, and rising attachment rates driving higher
recurring revenue
Expanding SaaS offering and cloud offerings across access control (ACaaS), video
surveillance as a service (VSaaS), remote video monitoring as a service (MVSaaS) and
analytics
Trend towards Global Security Operations Center as a Service (GSOCaaS)
Continued focus of large guard companies to acquire security system integrators to become
complete solution providers with multiple adjacent services
Fire Life-Safety
Systems &
Services
Rising stringency of fire safety codes mandate new, compliant fire protection systems
Increasing integration of cellular communications and IP-enabled fire alarm panels
Broadening adoption of networked, addressable systems vs. conventional zone systems
Mass notification with precision and purpose
Expanding regulations for carbon monoxide detection, beyond smoke and heat detection
Majority of U.S. states have enacted statutes, with next focus on hotels and schools
Increasing opportunities for retrofits due to aging legacy systems and nuisance alarms
Security Industry Trends
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Guard Services
Major consolidation / investment wave driven by need to offer comprehensive solutions (service
and technology) to end users
BC Partners acquiring a majority stake in GardaWorld for ~$4.0 billion
CDPQ acquiring a nearly 40% stake in Allied Universal, valuing the company at $7 billion
Automation is a major trend towards technology to lower costs and improve services
Cross-pollination between guard services, security integration, access control and video
monitoring
Technology enhanced functions smartphones, tablets and software for reporting, patrol
and tracking, worker management, etc.
Implementing the use of patrolling robots / drones and automation (e.g., AlliedUniversal /
Knightscope / Cobalt, Securitas / Knightscope)
Blossoming integration of land, air and sea drones into perimeter security solution Atlas
Dynamics partnering with Luxriot and G4S in Europe, Percepto partnering with JCI/Tyco,
OceanAero with Lockheed Martin
Cost savings, increased efficiency and safety as traditional methods are replaced with cloud-
based mobile SaaS solutions for:
Guard tours and patrol, geolocation and dispatch, incident / event / activity reporting
Post order management, time and attendance tracking
Lone worker protection
Security Industry Trends
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Access Control
Increasing use of ACaaS to drive down costs on access control deployments
Recurring revenue Expansion opportunity for systems integrators and guarding
companies
Driving expansion of use cases not only for additional exterior doors but for a substantial
expansion of interior doors
Location-based access control of identifying if a certain user is at the physical location
Cloud-based authentication and credentials management to further integrate mobile devices,
tokens and cards
Increasing adoption of platforms that allow easy provisioning of internal and external user
Identity
Solutions
Increasing convergence of physical identity attributes and digital identities
Privileged identity, with access to the “crown jewels” of data, is becoming the primary target
Expanding adoption of remote access and credential management without productivity impact
End-to-end identity verification is becoming a critical “must have” capability for e-signature
Key use cases such as anti-fraud and customer onboarding
Traditional security perimeters encircling corporate networks no longer meets commercial
needs. The result is that identity becomes the new security perimeter
Rising integration of device identity and consumer authentication for secure transactions
Security Industry Trends
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Video
Surveillance
Uptick in M&A for VMS and related video analytics companies
Major security equipment OEMs have been acquiring independent VMS and Analytic
providers
Software demand from convergence of VMS with other electronic physical security
management
Video analytics, access control, intrusion detection, etc.
Deep learning and big data analysis are emerging for video analytics
Big tech players like Amazon, Microsoft, and Google are big players here. By example:
“Amazon Kinesis makes it easy to collect, process, and analyze real-time, streaming data
so you can get timely insights and react quickly to new information”
Airports in particular will be rolling out major analytics upgrades to comply with new FAA
regulations mandating the publication of wait times as well as adding Facial Recognition
capabilities throughout the terminals
Blending video data with other types of unstructured data like images, sound, and text to give a
holistic view
Tangible ROI from both security applications and business operations
Physical Security Information Management (PSIM) Converged SIM (CSIM)
Continued shift towards cloud based video surveillance systems (i.e., Alarm.com’s
acquisition of OpenEye)
Security Industry Trends
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Cybersecurity
Next era of cybersecurity will be a battle between machines
Leveraging artificial intelligence (AI) and machine learning (ML) technologies
Massive volumes of security alerts are overwhelming human security analysts
Increasing reliance on AI to automatically detect, in real-time, malicious software behavior
Continuously Adaptive Defense
Security automation is rapidly becoming essential for organizations to filter most attacks
Force multiplier by allowing security teams to focus on the most critical threats
Expanding adoption of Managed Detection & Response (MDR) for threat hunting and
response
Augmenting enterprises’ security teams and smaller organizations with limited staff
Cyber-physical convergence of previously siloed components and multi-vector attacks
Security Industry Trends
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Emergency
Communication
– Alarm
Verification in
ASAP - PSAP
Multiple efforts last two decades. Challenges deploying a National network
ASAP grew out of APCO (Association of Public Safety Communications Officials) / Central
Station Alarm Association (CSAA - now TMA) relationship
ASAP (Automated Secure Alarm Protocol) to PSAP (Public Safety Answering Point)
Significant need for this technology, as false alarms from alarm system end-users to
PSAPs and first responders must be dramatically reduced
Significant and fundamental changes in the alarm / smart home industry are creating a dramatic
and immediate need for better emergency communications from alarm system end-users
through monitoring centers to PSAPs
Ability for the PSAP to quickly and efficiently transmit emergency situational data from the end-
user to the first responder, coupled with faster dispatch times, will make emergency outcomes
far more successful. As a result:
The alarm / smart home industry has a far better service offering for their customers that
allows them to defend recurring service revenue
PSAPs can be far more efficient
First Responders can be far more effective
Security Industry Trends
Contact Information
Los Angeles – Headquarters
10100 Santa Monica Blvd
Suite 2400
Los Angeles, CA 90067
Office: (310) 246-3700
Palm Beach
3801 PGA Blvd.
Suite 802
Palm Beach Gardens, FL 33410
Office: (561) 214-7901
Houston
1330 Post Oak Blvd
Suite 2160
Houston, Texas 77056
Office: (713) 892-5601
New York
277 Park Avenue
48th Floor
New York, NY 10172
Office: (212) 351-9700
Chicago
200 South Wacker Dr.
Suite 3100
Chicago, IL
Office: (312) 674-4721
Boston
101 Arch Street
Suite 1762
Boston, MA 02110
Office: (617) 478-7600
Tel Aviv
Imperial Capital Israel Ltd.
45 Rothschild Blvd
Tel Aviv P.O.B 29141
Israel
Toll Free: (800) 929-2299
Stamford
1 Landmark Square
Suite 720
Stamford, CT 06901
Office: (203) 428-3300
Contact Information
John E. Mack III
EVP, Co-Head of Investment Banking
Head of M&A and Security Practice Group
Phone: (310) 246-3705
Email: [email protected]
Rick Juarez
Managing Director
Phone: (415) 615-4002
Email: [email protected]
Bill Lynch
Managing Director
Phone: (310) 246.3789
Email: [email protected]
Koby L. Tanzer, CFA
Senior Vice President
Head of Israel Office
Phone: (310) 494-6131
Email: [email protected]
London
Imperial Capital (International) LLP
One Eagle Place
London SW1Y 6AF
Office: +44 (020) 7650-5700
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