Private equity firm Wind Point Partners has acquired Envera Systems, a provider of automated and software-enabled security, visitor management, access control and remote video monitoring solutions for community associations.
Headquartered in Coconut Creek, Fla., Envera operates throughout Florida with recent expansion into the Texas market. Wind Point purchased the company from Tinicum L.P. and other co-investors for undisclosed terms.
Founded in 2007, Envera provides a holistic security, access control and visitor management solution to gated communities and homeowners associations. The vertically integrated solution leverages internally developed software, tech-enabled hardware, and in-house monitoring capabilities to provide access control at community entry points. The company also monitors access to amenities and shared common areas through active and passive surveillance solutions. Envera’s proprietary offerings enable higher service levels and lower costs than alternative legacy solutions, according to an announcement.
Wind Point is partnering with current Envera management, led by CEO Addi Aloya and CFO Aaron Wray, as well as a team of senior leaders with experience within integrated security. Aloya, Wray and the entire Envera management team will remain with the company and retain a meaningful ownership stake alongside Wind Point.
“We are delighted to partner with Wind Point as we embark on our next stage of growth,” said Aloya. “Wind Point has a long history of supporting businesses as they scale into market leading platforms. We are excited to continue to grow Envera, both within existing and new geographies, while maintaining customer service as our core focus.”
Wray added, “We believe there is a strong cultural fit between Wind Point and Envera. Their commitment to the team’s long-term strategic vision will enable us to accelerate already strong organic growth while enhancing and expanding our solutions offerings.”
Bob Chauvin, a Wind Point executive advisor partner, advised Wind Point on the transaction and will join Envera as board chair. Chauvin has over 30 years of experience in the life safety industry, including a prior role as president of Tyco SimplexGrinnell. In addition, Chauvin serves on the board of Pavion, a leading fire and security integrator and current Wind Point portfolio company.
Chauvin will be actively involved in the development and execution of Envera’s value creation plan. Also joining the board is industry veteran Joe Oliveri. Oliveri has extensive experience within the life safety industry, previously serving as vice president of Tyco Integrated Security, and today serving as president and CEO of Pavion.
“Addi and Aaron have built an excellent business that sits at an exciting inflection point,” Chauvin stated. “We look forward to augmenting their significant expertise with the support of Wind Point and a world-class Board to take the business to the next level.”
Nathan Brown, managing director at Wind Point, noted, “Addi, Aaron and the entire team have developed an outstanding business model that delivers clear value to customers, resulting in strong long-term relationships. We look forward to supporting the Envera team as they continue to build a differentiated market leader.”
Wind Point is an active investor in both security and route-based services, with select prior and current investments including Pavion, D&H United, Smart Care and U.S. Security Associates.
Reed Smith LLP served as legal counsel to Wind Point. Stifel and Barnes Associates served as financial advisors, and Goodwin Proctor LLP served as legal counsel to Envera.
