Kiosk Information Systems (KIOSK), a manufacturer of self-service and kiosk solutions, was recently recapitalized by Alerion Capital Group, a private equity and management advisory firm.
McGladrey Capital Markets initiated the transaction, sourced the investor, led the negotiations and acted as exclusive financial advisor to KIOSK, according to a company press release.
"KIOSK's stakeholders sought an experienced value-added investor who could help the company reach the next level of success, provide current liquidity and begin a gradual long-term succession plan for the majority owner," said Paul Weisbrich, senior managing director at McGladrey Capital Markets. "This transaction confirms our view that kiosks will remain an important enabling technology for an ever-increasing amount of day-to-day, self-service transactions across many applications."
Rick DeAvila, managing director for Alerion, said KIOSK fits well into the company's strategy of investing in technology-related growth opportunities.
"This recapitalization provided us with both an opportunity to invest with an impressive management team and in the rapidly maturing kiosk/automated self-service marketplace," he said in the release.