Rockbridge Growth Equity announced it led the acquisition of Connect America, a security and safety solutions provider for older Americans who wish to continue to live an independent life at home.
RockBridge, one of the portfolio companies of Quicken Loans founder Dan Gilbert, partnerd with Falcon Investment Advisors in the acquiistion, providing subordinated debt and preferred equity financing. Ken Gross, Connect America’s founder and CEO, will continue to be a substantial owner in the company and will continue in his role as CEO.
“Connect America is one of the largest direct to consumer players in the industry and its large, scalable platform has been instrumental in growing its business to more than 75,000 customers,” said RGE Partner Kevin Prokop. “We believe that Connect America’s unique expertise and exceptional management team will be the foundation for substantial growth in the years ahead.”
Founded in 2004 and located near Philadelphia, Pennsylvania, Connect America differentiates itself from traditional personal emergency response companies through its strategic alliance partnerships, internal marketing expertise and superior customer service.
“I am looking forward to working with Rockbridge and I am confident the relationship is going to transform Connect America into the top direct-to-consumer PERS provider in the country. Rockbridge and its portfolio of companies support in marketing, technology and operations will be the key to growing our business and opening up new markets.”
Those alliances include insurance companies, medic alert ID companies, and senior services providers according to its website. The acquisition compliments One Reverse Mortgage, which is part of Quicken Home Loans.