Boston, MA, June 26, 2015 --(PR.com
)-- 5th Element Global announces its third acquisition in the past eighteen months with its recent purchase of the debt and equity position held by Equus Total Return in Spectrum Management of Dallas, Texas. Equus is an NYSE traded business development company based in Houston, Texas that held an investment in Spectrum since 1999.
Spectrum Management owns two subsidiaries, Spectrum Tracking Systems Inc. and Electronic Tracking Systems Inc., now rebranded BlueTracs, LLC. Spectrum Tracking holds 28 patents in the location based services sector including some of the earliest tracking patents. Spectrum utilizes combined location technology to provide location and tracking solutions. The company holds an exclusive patent developed solely by Spectrum for use in tracking bank currency taken during robbery from bank teller drawers.
BlueTracs LLC provides robbery tracking solutions and protection of other key assets services to over 3000 bank branch locations. Recently, Bluetracs leveraged its robust patent portfolio and moved into the pharmaceutical and retail industry by securing major contracts with national retailers for its pharmacy and organized retail crime products.
5th Element, in late 2013, acquired two additional companies in the managed services sector, LP Innovations and The Pharma Compliance Group. LP Innovations is the largest outsourced retail security services provider in the country and services over 70 national retailers in the discount retail industry.
The Pharma Compliance Group provides compliance, audit, and investigative services to the entire Pharmaceutical industry including manufacturers, distribution and retailers. Former US Justice Department Drug Enforcement Administration personnel staff the company and bring deep expertise to clients in the handling and the management of controlled substance processes and concerns.
5th Element is led by industry veteran Mike May, the former Founder and CEO of Iverify, an early leader in the remotely managed video security services sector.
“The acquisition of Spectrum positions 5th Element to deliver a wide range of managed security solutions, including tracking of critical assets, which complements our solutions for our core companies, LPI and PCG. Our ability to deliver robust tracking solutions to combat Organized Retail Crime and for Controlled Substance tracking during robbery or burglary events is a powerful new tool for the retail, pharmaceutical and banking industry,” said May. “As we add to our managed solutions we will be coupling our audit and compliance services with both tracking and video monitoring solutions as we work to position 5th Element as the go to Managed Security provider in the industry.”
5th Element is based in Boston with offices in Harrisburg, PA and Carrollton, TX. The company provides services nationally to its clients in the United States, Puerto Rico, Mexico and Canada.