Heartland Bridge Capital, Inc. announced yesterday that they acquired a group of companies comprising iSafe Imaging. The iSafe companies acquired include iSafe Imaging, LP, iSafe Imaging Canada Ltd., and eMEDiSAFE, LP.
According to the unaudited financial statements of iSafe, the companies had combined revenue of almost $1.3 million in 2010. This represents an increase of more than one-third over the 2009 revenue of approximately $0.9 million. Major iSafe customers include companies in the oil and gas, telecommunications, engineering, and medical sectors.
iSafe Imaging provides digital file conversion services that convert legacy information of various formats into valuable, usable information. Services include document imaging, tape copying and transcription, data replication, and disaster recovery.
iSafe provides additional services including physical storage and management of hard copy records and paper materials, document retention planning, and document disposal. These services enable the Company to create unique and comprehensive data and information management solutions that deliver maximum value to their business and user communities.
Heartland Bridge Capital, Inc.’s CEO, Mr. James F. Groelinger, said, “The acquisition of the iSafe group is a terrific step for Heartland. First and foremost, it is an operating business with meaningful revenue and stunning growth potential. Strategically, it represents a bridging of our three areas of interest — energy, because a major customer segment are companies in the energy business; waste, because the conversion of legacy documents into electronic form is an important step towards minimizing the burden and cost of paper distribution and disposal; and medical, because a fledgling part of the group is eMEDiSAFE, an electronic document management system specializing in the medical arena. This acquisition also illustrates that we intend to be creative and innovative in our strategic areas, not confined by traditional interpretations of what makes sense, and always with the overarching objective of creating value for our shareholders.”
Mr. Jay Silverman, a founding partner and majority owner of iSafe prior to their sale to Heartland Bridge Capital, said, “I’m excited about this sale to a company that shares my vision of what iSafe and eMEDiSAFE can become, and that has the energy and resources to enable that vision to be realized. I look forward to a strong and successful relationship with Heartland.”
Mr. Joseph Tischner will serve as iSafe’s CEO; he is the other founding partner. He commented, “Under the Heartland umbrella, iSafe has a great opportunity to seize the market potential available in the energy and healthcare sectors, and to penetrate new areas. The support by Heartland of iSafe’s existing management team is strong evidence of our ability to work together and provides an important foundation upon which to build the iSafe group.”
Heartland Bridge Capital, Inc. is a newly organized public company that, in addition to managing their own operating entities, will participate in emerging companies run by exceptionally talented entrepreneurs and operating executives dedicated to creating positive change in society.
The Company will function as an owner, a product developer, and an investor. They will focus primarily on providing equity, acquisition debt, or bridge financing to emerging high-growth companies and entrepreneurs in the areas of clean energy, waste management, and life sciences. Heartland Bridge Capital, Inc. will also supplement the capabilities of their investment companies in non-financial areas. This is to help them achieve their potential, and therefore maximize the value of the investment for the Company’s shareholders.
For more information visit: www.heartlandbridgecapital.com
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