Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today the acquisition of Tidel, a world leader in cash management systems.
Founded in 1978 and headquartered in Carrolton, TX, Tidel is the leading supplier of smart safe solutions in the United States. The Company's smart safe products are used to automate cash handling at organizations that accept cash, such as quick-service restaurants, convenience stores, grocers, money service businesses, healthcare providers, and general retailers.
"Smart safes offer compelling economics for all participants in the cash management ecosystem, including retailers, armored carriers and financial institutions. As such, the industry is poised for rapid growth in adoption. Given its reputation for quality and innovation, Tidel is remarkably well positioned to benefit from the ongoing growth and development of this market," said Tony Miranda, Managing Director of Littlejohn & Co.
Gary Landry, Chief Executive Officer of Tidel, added, "We look forward to partnering with Littlejohn to further strengthen our product and service offerings, while delivering best-in-class execution for our customers. Tidel has a tremendous opportunity to grow its market position by continuing to do what we do best: providing our customers the most innovative and reliable cash management solutions available."
Gibson, Dunn & Crutcher, LLP provided legal counsel to Littlejohn & Co.
About Tidel
Headquartered outside of Dallas, TX, Tidel is a leading provider of cash management solutions that empower retail institutions across the globe to better manage their daily cash operations, reduce risk, and increase profits. Since 1978, customers have relied on Tidel to provide the most innovative and reliable solutions that help secure, optimize, and streamline their cash environment. Information about Tidel and its products may be found on the company's website at www.tidel.com.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.
