Technology

Vance Street Capital Completes Growth Investment in Pro-Vision

Published

6 days ago

September 26, 2024

Partnership will bolster Pro-Vision’s commercial and engineering strategy, reinforcing the Company’s position as a leading player in the safety and security ecosystem

LOS ANGELES, Sept. 26, 2024 /PRNewswire/ — Vance Street Capital (“Vance Street”), a Los Angeles based private equity firm, today announced it has partnered with Pro-Vision (the “Company”) to support the business and management team during this next chapter of its growth story. Pro-Vision is a North American provider of video monitoring solutions for the commercial, K-12 transit, and public safety end markets. The acquisition represents Vance Street’s first platform investment out of Vance Street Capital IV L.P. and leverages the firm’s experience in industrial technology as well as in the critical asset monitoring space.

Headquartered in Grand Rapids, Michigan, Pro-Vision is an end-to-end mobile video solution provider that specializes in designing, assembling, and bundling a comprehensive and customizable suite of video solutions for critical asset monitoring. Pro-Vision’s cameras, monitors, recording & storage devices, managed install services, and Video-as-a-Service (“VaaS”) software platform provide customers a clear and tangible ROI related to cost savings (e.g., insurance savings) as well as enhanced safety and reduced liability (e.g., accident reduction, improved driver performance).

Founded in 2003, Pro-Vision has a long heritage and strong foundation of providing differentiated, safety-focused solutions for its customers. Through organic investments in the engineering team and expansion of the Company’s hardware and software capabilities, Pro-Vision has built a strong reputation as a valued partner recognized for its customer service, reliability and high-quality products. As part of the transaction, the Pro-Vision management team will reinvest, retain an ownership position, and continue to lead the business going forward. “On behalf of the entire Pro-Vision team, we couldn’t be more excited to begin this next chapter with Vance Street,” said Mike Finn, CEO of Pro-Vision. “This partnership gives us the green light to invest in the business, both organically and through M&A, and will allow us to continue to focus on providing our customers with the highest quality mobile safety and security products and services. Vance Street brings a complementary, growth-oriented playbook geared toward fine-tuning our strategy and processes, which is a perfect fit for our organization.”

“Pro-Vision has an impressive track record of product innovation across hardware, firmware and software, as well as in growing and executing on its pipeline across new and existing end markets,” said John LeRosen, Partner at Vance Street. “Pro-Vision is a great representation of the type of businesses Vance Street looks to invest in.”

“With Vance Street’s support and capital, Pro-Vision will be able enhance its product development pipeline and continue to provide current and future customers with best-in-class products and services,” Yousaf Tahir, Principal at Vance Street, added. “Vance Street’s ability to leverage its experience in industrial technology, and more specifically critical asset monitoring for safety and security related applications, makes Pro-Vision a great fit.”

Goodwin Proctor LLP acted as legal advisor and Current Capital Partners served as financial advisor to Vance Street Capital. PMCF Investment Banking served as financial advisor and Goodwin Proctor LLP served as legal advisor to JMC Capital Partners LLC and Pro-Vision. Debt financing for the transaction was provided by Barings. Terms of the transaction were not disclosed.

About Vance Street Capital LLC

Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the medical, life science, industrial technology, and aerospace & defense sectors. For over two decades, Vance Street’s partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.

Media Contact:
Natalie Yates
Head of Business Development and Investor Relations
nyates@vancestreetcapital.com

View original content:https://www.prnewswire.com/news-releases/vance-street-capital-completes-growth-investment-in-pro-vision-302260254.html

SOURCE Vance Street Capital

Technology

CellPoint Digital Partners with PayU GPO, a Payment Service Provider Specialising in Emerging Markets

Published

3 mins ago

October 2, 2024

Travel merchants working with CellPoint Digital can access PayU GPO’s localised payment offerings and APMs, enhancing their regional expansion capabilities

LONDON, Oct. 2, 2024 /CNW/ — CellPoint Digital, the leading provider of payment solutions for the airline industry and a global pioneer of Payment Orchestration, today announced a strategic partnership with PayU GPO, a leader in global payments and innovative fintech and a premier payment services provider (PSP) across emerging markets.

The partnership will increase the payment options available to travel merchants that work with both companies, enabling more seamless entry into new regions with PayU GPO’s localised offerings and alternative payment methods (APMs). PayU GPO operates across over 50 emerging markets, with a strong presence in Central and Eastern Europe, Africa, and Latin America.

Its expertise will extend CellPoint Digital’s capacity to support travel merchants in expanding their regional footprints with greater ease and efficiency. CellPoint Digital merchants have already committed to using PayU GPO, and integrations are underway.

Through the partnership, merchants will benefit from the APM Hub serving as a centralised hub for contracting and onboarding, whilst gaining access to PayU GPO’s streamlined services, high approval rates, and swift payment processing.

Expanding Access to Alternative Payment Methods

Crucially, CellPoint Digital’s merchants will, through a single integration, gain access to various market-specific options offered by PayU GPO, including alternative payment methods (APMs), which are popular in emerging markets where traditional methods are less prevalent. In Latin America, for example, APMs accounted for 39% of the region’s digital commerce volume in 2022.

Merchants with a presence or plans to expand in the region can offer cash vouchers, a widely used APM in Latin America, through the PayU GPO partnership. According to CellPoint Digital’s Payments Come of Age report, 31% of regional airlines plan to offer vouchers as a payment option within the next 6-12 months, compared to the global industry average of 25%.

Similarly, CellPoint Digital merchants will be able to offer Colombian travellers without a credit or debit card the option to pay directly from their bank accounts, thanks to PayU GPO’s partnership with PSE, an established platform used by more than 26,000 businesses across Colombia.

Joining Forces to Unlock Growth in Emerging Markets

“CellPoint Digital is a perfect partner for us to establish a strong foothold in the aviation sector. We anticipate significant interest from its merchants, who see alternative payment methods (APMs) as a key to breaking into emerging markets, where our expertise lies,” said Michiel Knoester, Partner Manager EMEA at PayU GPO.

The Latin American airline sector has experienced a comparatively swift recovery, with IATA forecasting that 2024 will surpass 2023. PayU GPO’s platform, which offers one of the broadest selections of local and global payment methods, leverages the latest AI and fintech solutions to ensure a smooth checkout experience for customers worldwide. This simplified processing, combined with extensive support for APMs and CellPoint Digital’s leading Payment Orchestration platform, creates a powerful solution that will deliver tangible benefits to merchants across the travel sector.

“APMs are the future, particularly in Latin America and other high-growth emerging markets. PayU GPO has all the right credentials to help us expand APM offerings and enable our merchants to capitalise on localised payment solutions that better meet their needs,” added Andy Sale, Head of Partnerships at CellPoint Digital.

For more information about CellPoint Digital and its partnership with PayU GPO or to schedule an interview with a CellPoint Digital company executive, please contact Steven Osei at steven.osei@cellpointdigital.com.

About CELLPOINT DIGITAL
CellPoint Digital is a fintech leader in payment orchestration and optimisation. CellPoint Digital’s main solution is a powerful Payment Orchestration Platform that optimises digital payment transactions from cards or alternative payment methods and accelerates the deployment of new payment options. Merchants can easily scale their own payment ecosystem across the world, unify the customer payment experience across their website, mobile apps and other channels, optimise the routing of each transaction, increase conversion rates and minimise payment costs. CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Visit www.cellpointdigital.com to learn more.

About PayU GPO
For the last 20 years, PayU GPO has been a leading online payment service provider, operating in 50+ emerging markets in Latin America, Africa, and Eastern Europe, dedicated to creating cutting-edge financial services tailored to the needs of over 450,000 merchants and millions of consumers. PayU GPO is focused on empowering people through financial services and creating a world without financial borders where everyone can prosper.

As an online payment service provider, it deploys hundreds of payment methods and PCI certified platforms to process approximately 10 million payments every single day. It also specialises in innovative consumer and small business solutions that improve access to credit and banking services in markets that are underserved by traditional financial services providers. For more information, please visit https://corporate.payu.com.

View original content:https://www.prnewswire.com/news-releases/cellpoint-digital-partners-with-payu-gpo-a-payment-service-provider-specialising-in-emerging-markets-302264643.html

SOURCE CellPoint Digital

Technology

Toshiba in Agreement with Rinko Bus and Drive Electro on Demonstration Project for Electric Bus with Super-Rapid 10-Minute Charging

Published

3 mins ago

October 2, 2024

Japan’s first e-bus operation on public road using pantograph charging
provides a robust solution that can be applied in towns and cities of Asian countries

TOKYO, Oct. 2, 2024 /PRNewswire/ — Toshiba Corporation has agreed with Kawasaki Tsurumi Rinko Bus Co., Ltd. (Rinko Bus) and Drive Electro Technology Co., Ltd. (Drive Electro Technology) to jointly study a demonstration project*1 to confirm the effectiveness of a super-rapid charging battery powered by a pantograph. The project is expected to start operation in November 2025, once the bus has been modified and the pantograph charging facility installed in the bus depot, and the bus will operate on a regular route along public roads in Kawasaki, south of Tokyo.

The project, the first of its kind on public roads in Japan*2, will demonstrate the feasibility of commercial operation of an e-bus charged by a pantograph. Rinko Bus will operate the service, and Drive Electro Technology will produce the pantograph charging system and convert the diesel bus to electric powered by Toshiba’s super-rapid charging SCiB™ rechargeable battery. The project will also verify the ability to reuse SCiB™. Used batteries installed in the pantograph charging system will be charged to minimize power consumption during peak demand, and used to supply power to the on-board battery via the pantograph.

While governments in China and Europe are providing support for e-buses as an environmental investment, total sales worldwide in 2023 were a low 50,000 units, a mere 3% of all bus sales*3. Long charging time and a limited number of chargers can impact vehicle operational efficiency, while the need to secure large charging spaces and install numerous charging facilities presents major barriers. These challenges are particularly significant for the adoption of e-buses in densely populated urban areas of Asia, where space is limited.

Toshiba will collaborate with Rinko Bus and Drive Electro Technology to make full use of each company’s capabilities, to promote the demonstration project as a cutting-edge initiative and to take the lead in introducing the system into Asia, and to work toward advancing carbon neutrality and sustainable growth for society as a whole.

*1 This project utilizes the results of the demonstration project, “International Demonstration Project of Energy Consumption Efficiency Technology and System Demonstration / Project to Demonstrate 10-Minute Charging of Large EV Buses (Malaysia)” supported by NEDO

*2 Source: Rinko Bus, Toshiba and Drive Electro

*3 Global EV Outlook 2024 – Analysis – IEA

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SOURCE Toshiba Corporation

Technology

Skanska builds data center in Arizona, USA, for USD 241M, about SEK 2.5 billion

Published

3 mins ago

October 2, 2024

STOCKHOLM, Oct. 2, 2024 /PRNewswire/ — Skanska has signed a contract with an existing client to build a data center in Arizona, USA. The contract is worth USD 241M, about SEK 2.5 billion, which will be included in the US order bookings for the third quarter of 2024.

The project consists of a single-story data center, totalling approximately 22,800 square meters (245,000 square feet).

Work is underway and is scheduled for completion in the third quarter of 2026.

For further information please contact:

Daniela Arellano, Communications Director, Skanska USA, tel +1 213-317-4977

Andreas Joons, Press Officer, Skanska Group, tel +46 76 870 75 51

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-builds-data-center-in-arizona–usa–for-usd-241m–about-sek-2-5-billion,c4045647

The following files are available for download:

https://mb.cision.com/Main/95/4045647/3033544.pdf

20241002 US data center Arizona