Blackford Capital Portfolio Company Best Security Industries Announces Acquisition of Unisen

July 10 , 2009 – IRVINE, CA – Blackford Capital, a leading U.S. private equity firm in the middle market, announced today that its portfolio company, Best Security Industries (www.bestsecurityindustries.com), completed the acquisition of Unisen (www.unisen.com).  Under the terms of the acquisition, Best Security Industries (BSI) will add customers, reseller relationships and EAS product sourcing to its current ongoing EAS operations. 

Founded in 1994, Unisen is a leading manufacturer of Electronic Article Surveillance (EAS) solutions to help retailers reduce shoplifting in their stores. The company specializes in developing unique and cost-effective Acousto-Magnetic and Radio-Frequency hard tags and labels, as well as EAS accessories that are compatible with the EAS systems of companies such as Sensormatic and Checkpoint Systems. Unisen is headquartered in Boca Raton, Florida and will be an add-on to Best Security Industries.  BSI is headquartered in Delray Beach, Florida and is also a manufacturer and distributor of security loss prevention products for retailers throughout the Americas.

 “The benefits Best Security Industries will experience from this transaction will be far-reaching,” said Tony Kiehn, Chairman of BSI and Managing Director of Blackford Capital. “This move will bolster BSI’s international presence in Europe and South America, and with the globalization of business today, that means everything.”

 “The addition of Unisen to the BSI core business is a terrific win for both companies and their customers” stated Steve Hall, president and CEO.  “Both companies come from the same background and business model, and the international customers of Unisen complement the focus of the Americas from BSI’s perspective.  Now as the third largest EAS provider in North America, BSI can better leverage our manufacturing and buying power to lower costs and increase availability for all of our customers and distributors worldwide.”

 “We look forward to taking Unisen to the next level and are confident that BSI and Blackford Capital are the right partners to help us realize substantial growth,” said Stuart Siedel, President and Owner of Unisen. “Our ability to invest in advanced technology, to explore more opportunities within electronic article surveillance, and to solidify our reputation as a progressive company is greatly enhanced by this new relationship.”

Mr. Siedel will continue to be actively involved with Unisen and BSI. He will serve as a board member of Best Security Industries.

The transaction was financed primarily with subordinated debt and equity from The 1818 SBIC Fund, a mezzanine fund managed by Brown Brothers Harriman, additional equity from Blackford Capital and management, and senior debt from TD Bank.

“We’re excited to work with Blackford Capital and the BSI team in this transaction,” said J. Michael Woody, Jr., Vice President of Middle Market Lending for TD Bank. “Unisen will bring a broader segment of customers to BSI and help expand the general product offering in the marketplace.”

About Blackford Capital
Founded in 2000, Blackford Capital is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. Blackford Capital has become a successful firm in the middle market having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm currently has 6 portfolio companies. Blackford Capital maintains offices in Irvine and San Francisco, California.  For more information, please visit www.blackfordcapital.com.

About Best Security Industries
Best Security Industries is a worldwide leader in the electronic article surveillance (EAS) and CCTV industry specializing in loss prevention security.  Customers look to BSI to provide them with high quality and superior value products, BSI’s largest market is North America where it sells primarily to retailers through wholesalers, dealers, OEMs, and on a direct basis.  BSI employs more than 35 associates at its 19,000 square foot state-of-the-art facility in Delray Beach, Florida. BSI currently offers sales and leasing of over 400 different product lines. BSI is a portfolio company of Blackford Capital and The 1818 SBIC Fund, L.P. For more information on Best Security Industries, please contact Steve Hall at (800) 939-4995 or visit www.bestsecurityindustries.com.

About Unisen
Founded in 1994, Unisen is a leading manufacturer of Electronic Article Surveillance (EAS) solutions designed to help retailers reduce shoplifting in their stores. Unisen specializes in developing unique and cost-effective Acousto-Magnetic (AM) and Radio-Frequency (RF) hard tags, AM/RF labels, and EAS accessories that are fully compatible with Sensormatic UltraMax, Checkpoint systems, and other branded EAS systems, detachers, and deactivators. For more information, please visit www.unisen.com.

About TD Bank
TD Bank reflects the new name for the combined Commerce Bank and TD Banknorth Stores in the Mid-Atlantic, Metro Washington, DC and Florida Markets. The new TD Bank and TD Banknorth form one of the 20 largest commercial banking organizations in the United States. The combined Company – from Maine to Florida – has more than $114 billion in assets and provides Customers with a full range of financial products and services at nearly 1,100 locations. TD Bank is headquartered in Cherry Hill, NJ and Portland, ME. For more information, please visit www.tdbank.com.

About The 1818 SBIC Fund, L.P.
The 1818 SBIC Fund, L.P., a $90 million mezzanine fund, invests in a variety of transactions including management or leveraged buyouts, expansions, recapitalizations, and acquisitions. The Fund is managed by Brown Brothers Harriman, a private bank which was founded in 1818.

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