LOS ANGELES and LAS VEGAS, Jan. 9, 2018 /PRNewswire/ -- 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."
John Robuck, Managing Director and Head of Security Finance 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."
Headquartered in Las Vegas, Nevada, DTT provides digital video surveillance solutions to the hospitality and specialty retail industries. DTT was founded in 1999 by Sam Naficy, leveraging the power of emerging digital technology to support the needs of a broad base of clientele. Since first launched, DTT has equipped, serviced and supported more than 35,000 clients. Every day, software provided by DTT protects trillions of dollars in assets and oversees nearly 2 million employees. Some of the world's most popular and respected restaurant brands use DTT including McDonald's, SUBWAY®, Dairy Queen, Burger King, Taco Bell, KFC, Auntie Anne's, and Potbelly Sandwich Works, to name a few. Please visit www.dttusa.com for more information.
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.