TORONTO, ONTARIO–(Marketwired – July 4, 2014) – Auxo Management LP (“Auxo”), a privately-held investment firm led by Robert Cherun and Erik Mikkelsen, announced today that it has completed a minority equity recapitalization of their portfolio company UCIT Online Security (“UCIT”), pronounced “you-see-it” (www.ucitonline.com).
In the recapitalization, Auxo has brought in Egis Capital Partners (“Egis”), a New York mid-market private equity fund led by Bill Polk and Robert Chefitz focused on late-stage growth investments in the Security & Homeland Defense sectors. Egis has invested in several security companies including Alarm.com, FreightWatch, and Westec.