Growth capital fund continues to support global leader in product testing and regulatory compliance services for the gaming industry.
LOS ANGELES, AUGUST 2013 – Breakwater Management, LP (“Breakwater”) has completed a follow-on growth capital investment in BMM Compliance (“BMM”) out of its Breakwater Structured Growth Opportunities Fund. BMM Compliance provides testing, assurance, certification, and compliance management services to manufacturers, operators, and regulators in the gaming industry.
Founded in 1981, BMM is the longest-established and most experienced private, independent gaming test lab in the world. BMM is now approved or licensed to recommend products for certification in over 400 jurisdictions.
“We are extremely pleased to further strengthen our relationship with Breakwater,” said Martin Storm, CEO of BMM Compliance. “The additional investment from Breakwater will provide working capital to support BMM’s continued domestic and international growth, defray licensing and quality assurance costs, and help establish a strategic gaming testing laboratory in Italy and an extension to our existing facility in Las Vegas.”
“Since Breakwater’s first investment in BMM in mid-2011, the company’s financial performance has been nothing short of stellar,” said Saif Mansour, Managing Partner at Breakwater. “We are delighted to be providing additional financing to further BMM’s ongoing growth, and we look forward to continuing to support the outstanding execution and management of Martin Storm and his team.”
Founded in Melbourne, Australia, BMM Compliance has been providing professional technical and regulatory compliance services to the gaming industry since 1981. BMM authored the first set of independent gaming standards in 1992 and the first set of online gaming standards in 2001. The firm employs over 200 people in 12 countries and operates 11 gaming labs.
BMM’s world headquarters are in Las Vegas (USA), with offices in Mexico City (Mexico), Lima (Peru), Melbourne and Sydney (Australia), Singapore, Macau (SAR, China), Busan (South Korea), Moncton (Canada), Barcelona (Spain), Graz (Austria), Rome (Italy), and Midrand (South Africa).
Breakwater Management is a private investment firm that specializes in direct investments in lower middle market growth businesses. The firm serves as General Partner of Breakwater Credit Opportunities Fund, LP, a $100 million open-ended private investment partnership organized in August 2008 under Delaware law. The Fund’s investment objective is to generate both current income and capital appreciation through secured debt investments accompanied with equity participation rights, primarily in growth-oriented companies across a variety of industries.
If you would like to know more about Breakwater, visit www.breakwatermgmt.com or call (424) 777-4000.