LifeSafer Holdings Expands Ignition Interlock Portfolio With Acquisition of Monitech, Inc.
CINCINNATI, June 20, 2012 /PRNewswire/ -- LifeSafer Holdings, Inc., a consortium owned principally by Lineage Capital, LLC and the founders of #1 A LifeSafer, Inc. (LifeSafer), has expanded its portfolio in the ignition interlock industry through the purchase of 100% of the shares of Monitech, Inc. (Monitech), making it a wholly owned subsidiary of LifeSafer Holdings.
Monitech, headquartered in Morrisville, NC, is a top manufacturer and distributor of ignition interlocks and the leading service provider in North Carolina. Ignition interlocks are breath analyzers installed in vehicles to prevent drivers who have consumed alcohol from operating the vehicle. Ignition interlocks have been proven to reduce injuries and fatalities associated with drinking and driving.
"Monitech is a great addition to our portfolio of ignition interlock providers," said Mark Sullivan of Lineage Capital. "The acquisition of Monitech meets our organizational goals of investing in companies with leading market positions and strong management."
Monitech joins LifeSafer in the portfolio of LifeSafer Holdings. LifeSafer is the leading U.S. manufacturer and distributor of ignition interlocks. Both LifeSafer and Monitech will continue to operate as independent entities.
"We at LifeSafer Holdings are very excited about this transaction. Monitech has an outstanding name in the ignition interlock industry for top quality products and service and we hope to leverage best practices between the two companies where appropriate," states Craig Armstrong, President and CEO of LifeSafer Holdings.
"We are very excited about the investment from Lineage Capital and LifeSafer Holdings," said John Stump, President and CEO of Monitech, Inc. "Monitech serves our customers by allowing them to drive safely and responsibly and serves the public by preventing impaired driving. We look forward to continuing our mission and our growth as a leading manufacturer and distributor with the support of our new investors."
About LifeSafer Holdings
LifeSafer Holdings, formed in 2010, is a consortium owned principally by the founders of LifeSafer and Lineage Capital. LifeSafer Holdings prides itself in investing in companies with excellent management, technology, and a mission of public safety.
Monitech has been the leading manufacturer and service provider of ignition interlocks in North Carolina for 23 years. For more information on Monitech visit www.monitechnc.com.
LifeSafer is the leading U.S. manufacturer and distributor of ignition interlock devices and other alcohol monitoring technology systems that are leased and serviced through a combined network of 800+ service locations in 43 states. For more information on LifeSafer visit www.lifesafer.com.
SOURCE LifeSafer Holdings, Inc.Back to top