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Shea & Company Advises Utility, Inc. on its Majority Investment from Greater Sum Ventures

Utility, Inc. Profile

  • Utility is an innovative technology-enabled service provider recognized for creating groundbreaking digital systems for frontline professions
  • Utility provides a universe of intuitive products to help law enforcement, first responders, transportation agencies and utility providers effectively capture, manage and release video evidence; technologies include a variety of cameras, sensors and devices, as well as situational awareness software solutions
  • Utility currently serves 300+ clients in over 40 states
  • Utility was founded in 2001 and is headquartered in Decatur, GA with approximately 150 employees

Greater Sum Ventures Profile

  • Greater Sum Ventures is an entrepreneurial family office that invests in middle market software and tech-enabled services companies
  • Greater Sum Ventures has invested in 250+ companies since its founding and works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve
  • Greater Sum Ventures was founded in 2015 and is headquartered in Knoxville, TN

PSG Equity Profile

  • PSG Equity is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams
  • PSG Equity has backed 130+ companies and facilitated 470+ add-on acquisitions, providing extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams
  • PSG Equity was founded in 2014 and is headquartered in Boston, MA

Hicks Holdings Profile

  • Hicks Holdings is a single-family office that specializes in opportunistic private equity, real estate, sports and entertainment investments in the United States
  • Hicks Holdings’ investment portfolio consists of $500M AUM
  • Hicks Holdings was established in 2004 and is headquartered in Dallas, TX
Utility is a respected leader in both software and hardware solutions for the law enforcement and first responders who keep our communities safe. The demand for advanced technology services is only growing as counties and municipalities increasingly require digital video documentation and accessible evidence storage. Utility’s differentiated service offerings bring world-class innovation to the intersection of data and public safety.

Ross Croley

CEO and Founder, Greater Sum Ventures

Utility enables law enforcement professionals and first responders to securely collect and manage digital evidence, while ultimately building trust within their communities. Their offerings are crucial in the highly compelling public safety software market. We are thrilled to partner with Michael and the Utility team in their next phase of growth.

Marco Ferrari

Managing Director, PSG Equity

Utility serves forward-thinking clients who are seeking best-in-class solutions to make a positive impact on their communities while establishing trust. This investment will help us to meet their growing needs through advanced technology and support capabilities. We’re gratified by GSV’s confidence and partnership as we extend our next-generation products and services to public sectors around the world.

Michael Nark

CEO, Utility

Transaction Notes

  • Utility’s acquisition by Greater Sum Ventures was announced on November 13, 2023; financial terms were not disclosed
  • Greater Sum Ventures is also joined by new minority investor PSG Equity
  • Shea & Company served as the exclusive financial advisor to Utility and Hicks Holdings on the transaction
Read The Press Release