Listing Price: Market Value
A leading provider of private misdemeanor probation supervision services, operating across four states under exclusive, multi-year government contracts. The Company supervises court-ordered probationers on behalf of local jurisdictions through an offender-funded model. Recurring revenue is generated through monthly supervision fees paid by probationers over the life of each sentence, supplemented by drug screening, electronic monitoring, and court-approved diversion and education programs.
Founded more than 30 years ago, the Company has built a durable reputation with its government partners and demonstrated consistent year-over-year growth, with revenue increasing from approximately $15,856,000 in 2023 to $18,806,000 in 2025 with adjusted EBITDA of roughly $2.3 million. Its footprint spans over 60 service locations, and the exclusive, renewable nature of its jurisdictional contracts produces sticky, predictable revenue across a highly diversified base of court relationships that limits customer concentration risk.
A key differentiator is the Company's proprietary case management software platform, which underpins day-to-day supervision operations and has recently begun generating a separate, recurring software revenue stream through licensing deals with government jurisdictions. While still early and modest relative to the core supervision business, this stream demonstrates the platform's standalone commercial value and points to a scalable, higher-margin growth path. Combined with integrated payment processing, it creates multiple complementary revenue streams and a foundation for expansion.
Significant growth opportunities exist, including geographic expansion into adjacent jurisdictions, broader licensing of the software platform to courts beyond the existing footprint, the continued buildout of virtual and online reporting capabilities that improve efficiency and margin, and scaling of active AI-driven pilot program.
The Company is well suited for transition, with day-to-day operations supported by an experienced management team and a tenured base of case managers operating within established regulatory and reporting frameworks.
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