Shields' commitment to providing best-in-class banking and cash logistics solutions for the financial community Supported with Relationship
MOORESTOWN, N.J., Nov. 21, 2022 /PRNewswire/ -- Shields Business Solutions ("Shields"), a provider of ATM service, cash-in-transit and cash logistics solutions for the financial community, and Egis Capital Partners, a private equity firm focused on the Safety, Security and Protection industry, announced today a new strategic partnership. The agreement brings together Shields' extensive team of specialized bank products and cash services professionals with the strategic investment and financial backing of Egis Capital Partners. The partnership strengthens the position of Shields in contributing to driving the digital transformation and operational efficiency of the financial community forward and creating greater value for Shields' customers.
With over 50 years of experience, Shields has been a market leader in comprehensive ATM and advanced cash solutions, building its record of service quality and deep industry expertise since 1970. Shields works with top manufacturers and partners to deploy solutions that range from basic implementations to advanced, core-connected interactive technology projects for best-in-class service and increased uptime for their customers.
"We are thrilled to have found the right partner in Egis Capital. Leveraging Egis' industry experience will assist us as we continue to expand our business within our existing footprint and look to broaden our service offerings as we enter new geographies," said Mark McGrath, President of Shields.
Robert Chefitz, founder and managing partner of Egis Capital Partners added, "Shields' customer-first approach and its complete offering of cash logistics solutions that connects bank branches to retail sites, place them in a unique position to play an important role in the delivery of cash-based banking solutions in this digital environment. We are excited to support the team led by industry veterans Mark McGrath, President and Tom Raftery, Chief Operating Officer, to accelerate growth and expand Shields' footprint."
Kroll Securities, LLC served as exclusive financial advisor to Shields Business Solutions and its sellers in this transaction.
Founded in 1970 and headquartered in Moorestown, NJ, Shields pioneered the single source solution by combining ATM service and cash replenishment and continue to build off that legacy to become the Mid-Atlantic region's leading ATM/ITM/TCR/CASH sales and service provider to the Financial Community.
Egis Capital Partners makes buyout and growth investments in technology-driven businesses in the Safety, Security and Protection industry. Since 2008, Egis has made sixteen platform investments in the space, leading to lasting positive relationships with investors, directors, and operators within the industry. Egis is focused on partnering with companies that can benefit from Egis' industry knowledge, operational and financial expertise, C-level relationships, and proactive ownership model. Egis targets companies in North America with enterprise values ranging between $30 million and $200 million that require a total equity investment between $10 million and $80 million. For additional information, visit www.egiscapitalpartners.com.
Blue Pig Media
SOURCE Shields Business Solutions