Date Posted:
02/11/2015
Title:
ZVRS' Parent Company Acquired by Kinderhook Industries
Summary:
ZVRS' Parent Company Acquired by Kinderhook Industries.
Body:
We’re excited to announce the purchase of CSDVRS, LLC, the parent company of ZVRS and Stratus Video, by Kinderhook Partners, LLC, a firm based in NY. We’re proud that our combined company’s current value and future growth potential are strong enough to attract Kinderhook’s attention, support and investment dollars.
We expect no change in ZVRS’ name or services in this transaction. Moving forward, both ZVRS and Stratus Video will operate as separate subsidiaries with continued mutual support. To support the change in ownership we filed the necessary paperwork with the FCC to officially request they maintain our present VRS certification under the new owners. We received notice on January 28, 2015 that the FCC approves of the purchase and granted ZVRS a Conditional Certification, per normal certification procedures; full certification is now pending.
Sean Belanger, CEO of CSDVRS, said, “We are excited about our partnership with Kinderhook. Our vision is to continue to provide world-class video relay services.”
“Sean and his management team have built ZVRS into a nationally recognized provider of video relay services,” said Chris Michalik, Managing Director at Kinderhook, “which enable deaf and hard of hearing individuals to communicate with hearing people worldwide. Further, Stratus’ market-leading position, technology and best-in-class service provide a unique value proposition to the hospital and legal market. Kinderhook is looking forward to partnering with accomplished industry veterans to continue to build a leading company.”
Thank you for your continued support of our combined companies. We eagerly anticipate focusing our collective energy on further improving ZVRS’s and Stratus Video’s products and services to fit the communication needs of the communities we serve.
About CSDVRS
CSDVRS is a nationally recognized provider of VRS services that enable deaf and hard of hearing individuals to communicate with hearing people worldwide. Through its ZVRS business unity, the Company provides videophone hardware, software and accessories designed to enable a real-time video connection with certified ASL interpreters who relay conversations between parties. The Company’s Stratus business unit provides interpretation services to the healthcare, legal and enterprise markets – connecting clients with interpreters in ASL and over 180 spoken languages on an on-demand basis. For more information please visit: www.csdvrs.com
About Kinderhook
Founded in 2003, Kinderhook is a private equity firm with over $1.25 billion of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies in which the firm can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com