Graham Partners Cashes in on Smart Safes
March 1st, 2017
Graham Partners, a private investment firm focused on investing in businesses with advanced industrial technologies, is pleased to announce it has sold Tidel Engineering, L.P. (“Tidel”) after a two-year holding period. Tidel is a leading global provider of smart safes, providing scalable solutions that enable customers to secure and automate their cash handling operations.
During Graham’s two-year holding period, Tidel’s EBITDA increased by over 150%. This accelerated growth validates Graham’s investment thesis, which was premised on the adoption of Tidel’s technology-enabled smart safe solutions by customers seeking to manage cash more effectively and safely. In particular, smart safes offer substantial, immediate paybacks to customers by: reducing cash handling costs, enhancing employee safety, and accelerating cash recognition within their banking network. Under Graham’s ownership, Tidel brought on many new blue chip customers across a range of end markets, expanding to over 5,000 new locations.
Adam Piatkowski, Managing Principal at Graham Partners, stated, “We saw a unique opportunity with Tidel’s technology solution. We conducted in-depth research during diligence, working closely with top industry experts, to recognize trends in cash usage and conclude that Tidel’s products are benefiting from the early stages of a long-term technological conversion towards smart safes.”
Gary Landry, CEO of Tidel, said, “Our partnership with Graham over the past two years has been very rewarding, and we are appreciative of their support and resources that helped Tidel capitalize on the significant growth opportunities available in this industry.” Rob Newbold, Managing Principal at Graham Partners, added, “The Tidel team is best in class and we expect excellent things from them for the go-forward. We are confident Tidel will continue to foster innovative technological advancement to serve its customers, and we wish them the best under new ownership.”
About Tidel (http://www.tidel.com)
Tidel Engineering, headquartered in Carrollton, Texas, is a leading global provider of smart safe solutions that deliver labor and cost savings to businesses by reducing the costs of handling and processing cash. Tidel’s comprehensive product offering, which provides advanced systems for validating, reconciling, storing, and dispensing cash, is a full suite of smart safe solutions that offers end-to-end cash management. Tidel services a diverse array of market channels including cash-in-transit providers, financial service institutions, distributors, and retailers.