St. Louis, MO, February 2023
Capital For Business, Inc.® (CFB) is pleased to announce that it recently completed an investment in Vehicle Security Innovators, LLC (“VSI”). Based in Green Bay, Wisconsin, VSI has been leading the OEM industry as North America’s largest lockset supplier for the past 70 years. Founded in 1948 as a service provider to the locksmith industry, VSI has evolved over the years to become the number one lockset supplier to the heavy truck market and transportation industry. VSI designs, produces and sells locks and truck security products to all major domestic truck manufacturers and their international affiliates for production and aftermarket. VSI through its other business units (Pop & Lock, Freight Defense, and Simply Keys) provides aftermarket security systems and accessories for passenger vehicles, truck fleets and manufacturers of construction equipment, toolboxes, handles, and latches.
“As we planned for the future and the next stages of the company’s growth, we recognized that having a financial partner was important to executing on our growth plans. We found terrific partners in Capital For Business and Holleway Capital Partners, who share our vision for VSI and fit well with the company’s culture”, said Jay Yaeso, President.
Affiliates of CFB, Holleway Capital Partners, and the VSI management team provided subordinated debt and equity to complete the transaction. The entire VSI management, office and production teams will remain with VSI.
CFB Vice President Eddie Trigo noted: “VSI’s legacy of high-quality and innovative products, backed by substantial knowledge and engineering expertise, is exactly the unique mix we look for in a company. We are excited to partner with VSI and Holleway Capital Partners to write the next chapter of the VSI story.”
About Capital For Business, Inc.
CFB is a St. Louis-based private investment firm, owned by Commerce Bancshares, Inc., providing capital to middle-market businesses with proven management teams and a high potential for growth. Founded in 1959, CFB is one of the oldest Small Business Investment Companies (SBICs) in the nation and is focused on control buyouts of value-added manufacturing, distribution and business services companies throughout the United States.