Golden Gate Capital completes investment in Plant Equipment
TEMECULA, CA (May 23, 2005)– Golden Gate Capital, in partnership with Timothy J. Fuller, President and CEO of Plant Equipment, announced today the recapitalization of Plant Equipment, Inc., America’s leading provider of mission-critical communications systems for 9-1-1 and other emergency call centers. Mr. Fuller will continue to lead the Company following Golden Gate Capital’s investment. Financial terms of the transaction were not disclosed.
Founded in 1968, Plant provides fully integrated software and hardware solutions for emergency and dispatch communications in public safety answering points (PSAPs), airports, transportation centers, utility call centers and federal government installations including military bases throughout the world. Applications include computer telephony integration (CTI), computer aided dispatch (CAD), digital mapping, digital logging and other related software.
With more than 2,400 Public Safety call center installations in 44 states, Plant’s installed base is the largest in the industry. The Company has also been on the cutting edge of innovation in public safety, introducing the industry’s first CTI 9-1-1 solution, which initiated an industry-wide migration to computer-based systems.
“We are excited to back the number-one player in the public safety space and help continue to drive their rapid growth,” said David Dominik, Managing Director at Golden Gate Capital. “Plant Equipment and the Fuller family are synonymous with helping America’s PSAPs handle emergency calls. With substantial financial backing from Golden Gate Capital, the Company will be well positioned to accelerate its extraordinary growth and provide more innovative and comprehensive solutions to its customers. Additionally, Plant Equipment will serve as an excellent platform to consolidate the Public Safety Information Technology space.”
“We are pleased to be establishing a partnership with one of the world’s top software investors,” said Timothy J. Fuller, President and CEO. “Golden Gate Capital brings the experience and financial resources that will allow us to make an even greater impact in mission critical communications. This is a winning transaction for our customers, our end-users and the industry as well.”
About Golden Gate Capital
Golden Gate Capital is a private equity firm with over $2.6 billion of capital under management dedicated to investing in high-growth businesses in change-intensive industries. The firm’s charter is to partner with world-class management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company’s value. Over the past four years Golden Gate Capital has completed 25 software acquisitions aggregating to approximately $1.6 billion in revenue. For more information, please visit www.goldengatecap.com.
About Plant Equipment
Established in 1968, Plant Equipment, Inc. (Plant) is a major solutions supplier for public and private communications providers including: Motorola, Qwest, SBC, Sprint, and Verizon. The industry leader in public and private safety telecommunications, Plant products include advanced call processing solutions, conventional key telephone systems, mapping/GIS/CAD/RMS, management information systems, digital logging recording systems, and comprehensive professional services. Plant is a Nortel Developer Partner, an ESRI Business Partner, an HP Development Solutions Partner and a Microsoft® Certified Partner. For more information, visit www.peinc.com.