Wellington Financial Provides US$7 Million Growth Capital to InterAct911, Inc.
WINSTON-SALEM, NC and TORONTO, ON, May 24 /PRNewswire-FirstCall/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a US$7 million venture debt financing for InterAct911, Inc., of Winston-Salem, NC. InterAct911 is a leading provider of public safety incident response and management software. InterAct911's integrated emergency response systems arm agencies with the decision making tools to swiftly identify and respond to incidents in the best manner possible.
"Every day, InterAct911's systems are used by both public and private safety organizations tasked with protecting the lives and property of more than 50 million people to respond to emergency situations." said Mark Usher, Partner of Wellington Financial LP. "InterAct911 delivers critical capabilities to these 1,450 organizations that are literally responsible for saving lives every day. We are delighted to add InterAct911 to our expanding U.S. portfolio of high growth companies."
John McNulty, President and CEO of InterAct911 said, "Partnering with Wellington Financial provides us with working capital to support our continued growth and the extension of our product capabilities that enable multiple agencies to cost effectively share critical, time sensitive information. We're delighted with Wellington's support and with our partnership."
Thompson Coburn LLP and Choate LLP provided legal advice on this transaction.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm providing revolving lines of credit, term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $450 million investment program via Wellington Financial Fund III, with offices in Toronto, Canada and Santa Monica, California. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG: TSX), who jointly have contributed a large financial stake to Fund III. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
Since 2004, Wellington Financial LP has led or participated in more than $350 million in transactions, making it one of the most active funds of its kind in North America.
InterAct Public Safety Systems is a leading provider of public safety incident response and management software. We help first responders coordinate, communicate and react to unplanned events quickly, safely and accurately so these heroes can save lives. Over the last three decades we have emerged as a leading global provider of incident management solutions for both the public and private safety markets.
Founded in 1975, InterAct provides integrated multi-agency, multi-jurisdictional public safety, corporate security, and homeland security systems technology. InterAct's mission is to enable public safety professionals to perform critical functions at their highest level. Our solutions allow these personnel to make the right decisions, at the right time, and make it possible for the right people to affect the best outcomes and save lives.
SOURCE Wellington Financial LP