WatchGuard Video announced Monday that Peninsula Capital Partners, LLC, via its $335 million investment partnership The Peninsula Fund IV LP, completed a $6.5 million growth capital investment in WatchGuard Video to provide additional liquidity to support sales growth and fund new product development. This investment followed the recent announcement that sales for WatchGuard Video have risen more than 100 percent in the last year.
“We are very excited to put this additional capital to work which will allow the Company to expand into new market segments, build additional infrastructure within the organization, and manage the rapid growth that we have been experiencing,” says Robert Vanman, president and CEO of WatchGuard Video. “While the Company became profitable shortly after the production release of the DV-1, sustained high revenue growth requires more working capital, and this investment provides the Company additional liquidity to support continued sales growth, expand the capabilities of the DV-1, and simultaneously fund additional development projects.”
“When we learned about WatchGuard Video, we liked the Company right away” explains Scott A. Reilly, CFA, president and chief investment officer of Peninsula Capital Partners. “As we completed the due diligence phase of the transaction, two attributes became clear; the depth and quality of the Company’s management team is unusual for a firm this size, and WatchGuard’s customers are very passionate about the Company’s products and service.”
Federal is introducing three new types of Syntech ammunition: Syntech Defense, Syntech PPC, and Syntech Training Match. These will all be on display at the 2019 SHOT Show.