Falconhead Acquires Radar Detector Co
By Dana Czapnik
November 22, 2005
Falconhead Capital has acquired a majority stake in Escort, Inc., a branded radar detection supplier from American Capital Strategies for an undisclosed sum.
Through the deal, the current senior management of the company and American Capital Strategies, which purchased the company in 2003, will retain significant minority stakes.
Escort was founded in 1977 and is based in West Chester, Ohio. The company designs, manufactures and distributes highway radar and laser detectors. Escort employs 250 people in the company’s two facilities. The company’s products are sold at retailers such as Best Buy, Circuit City and Sharper Image.
According to David Moross, Falconhead’s chairman and chief executive officer, Escort’s compound growth has gone up 12% to 14% per year, which was one of the reason’s Falconhead pursued the company.
“There are a number of organic growth opportunities with Escort,” Moross said of the company’s future under Falconhead management. “The company will introduce new initiatives including new products and new sales and marketing plans.”
Falconhead invested in the company through its first fund, which was raised in 2001. The firm was launched in 1998 and has recently exited from portfolio companies Maritime Telecommunications Network and ESPN Classic Europe.
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