DTT, the leading provider of video-based managed service solutions to the hospitality and C-Store industries, announced the closing of an $80 million debt facility led by Administrative Agent, Capital One and CapitalSource, a division of Pacific Western Bank. The facility will be utilized primarily for the acquisition of LP Innovations Inc. (LPI), a loss prevention provider to the retail industry and for additional growth capital.
“We are very excited to join forces with the LPI team led by Steve May. LPI is a venerable Loss Prevention company with over 20 years of excellence in the retail industry” said Sam Naficy, CEO and Founder of DTT. “The merger makes DTT the first and only company that can provide clients with a full suite of LP solutions across multiple industries, merging standard LP solutions together with leading-edge solutions, including BI Tools, POS integration, video analytics and remote audits.”
DTT has grown tremendously since its founding in 1999 through customer referrals, new product launches, and the development of its professional staff. The acquisition of LPI will enable DTT to continue developing innovative data analysis and risk mitigation technology and to maintain its position as the leading provider of managed loss prevention solutions in all of retail.
“At LPI, we are focused on protecting the investments of our clients” said Steven May, President of LPI. “Our solutions are a great fit for DTT’s service offerings, and as a result of this merger, we will now be working together to deliver the value of our combined companies to our customers, helping them grow their businesses and increase their operational efficiency.”
A member of the Security Finance Management team at Capital One, remarked, “We continue to enjoy the long-standing partnership with DTT and we’re excited to play a role in this significant expansion opportunity for the business.”
About DTiQ
DTiQ offers state-of-the-art video surveillance to improve loss prevention and operational excellence efforts for restaurants, retail, and convenience store locations. With over 25 years of experience, DTiQ successfully enhances over 8 million consumer experiences daily while protecting trillions of dollars in assets. DTiQ works with 45,000+ locations, including brands such as Adidas, Burger King, Dairy Queen, Hard Rock Café, McDonald’s, Pandora, Subway, Swarovski, Taco Bell, Vineyard Vines, and Yankee Candle. For more information, visit www.dtiq.com.
About LP Innovations, Inc.
Founded in 1998, LP Innovations, Inc. has quickly become the leading provider of loss prevention solutions and field services to retailers across all verticals. Based in Milford, Massachusetts, LP Innovations, Inc. develops holistic, results-driven programs and products to eliminate losses and increase profitability for their clients. Through the application of best practices and 30 years of cross-industry experience, LPI has developed a team of loss prevention experts, servicing over 70 companies and 8,000 locations in the US and Canada.
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