Pittsburgh, Pennsylvania - Tecum Capital Partners, L.P. ("FNBCP") has partnered with Management and Periscope Equity (“Periscope”) to recapitalize CISCOR. Periscope led the transaction while Tecum and Kian Capital provided the debt financing and an equity co-investment. The Company’s former owners, Sam and Cynie Youngwirth, have reinvested back into the Company and will remain the lead operators at CISCOR to drive future growth.
CISCOR provides life safety monitoring, notification, and emergency call solutions (collectively “Ecall” systems). The Company is located in a single facility in Norman, Oklahoma, and CISCOR’s primary markets are the senior living facilities throughout the U.S.
“We are very excited to partner with the Youngwirth’s, Periscope, and Kian Capital,” noted Stephen Gurgovits, Jr., Managing Partner of Tecum. “We are very optimistic on the industry tailwinds facing the senior living facility market and the ability for Periscope to add value through their investment focus and experience with tech-enabled business services companies.”
The transaction represents the 24th investment in Tecum’s inaugural SBIC fund, which launched in August, 2013. Other parties involved in the transaction were First Merchants Bank providing the senior financing and Metz Lewis serving as legal advisor to Tecum.
Periscope is a Chicago based entrepreneurial private equity firm that invests in lower-middle market tech-enabled business services companies. With extensive operational and investing experience, Periscope understands the challenges faced by tech-enabled business services companies and how to overcome them.