Surveillance provider restructures debt
A surveillance/RFID manufacturer that specializes in the library vertical, as well as retail and industrial/manufacturing sectors, has restructured its debt. The company, Sentry Technology Corp. out of Ronkonkoma, N.Y., is one I haven't written about recently.
A number of years ago, we wrote about some internal restructuring it did and deals it had with ADT and Chubb--but we haven't written much since. I have call into company president and CEO Peter Murdoch to get an update.
Sentry's products are used "by libraries to secure inventory and improve operating efficiency, by retailers to deter theft and enhance productivity, and by industrial/institutional customers to protect assets and people."
The news, announced Jan. 4, is that Sentry Technology paid off a $2 million in unsecured debt plus $743,000 interest to Brookfield Technology Fund. With this payment, "with the exception of $75,000 owned to Brookfield all secured company debt ... is owned by company directors Robert Furst and Peter Murdoch."