Biometric splits off from parent company

A North Charleston company that designs devices that permit or deny access based on fingerprints, facial and eye characteristics and voice patterns said Friday it wrapped up a $3 million management buyout.

Biometric Solutions Group relied on private investors to complete the deal to split off from Bethesda, Md.-based parent Information Systems Support Inc. The funds came from management and outside investors.

“This acquisition greatly improves our ability to raise capital,” said Pete Peterson, 45-year-old chief executive of Biometric Solutions. The company now can be more aggressive in bringing out products to a market that is increasingly eager to tackle challenges of personal, institutional and homeland security, he said.

The firm’s president and chief operating officer is Robert Turbeville, also 45. The electrical engineer has 20 years’ experience in corporate management, engineering and consulting. Peterson specializes in mergers and business startups. He was managing director of investment banking with H.C. Wainwright & Co. and a senior banker for brokerage Josephthal, Lyons and Ross Inc.

Biometric Solutions is based at Trident Research Park near Charleston International Airport. The company has 21 employees.

The buyout developed in the past year, said Greg Yarus, business development manager. “Once we started making progress with biometrics, we jettisoned everything else,” he said.

ISS, which primarily supplies companies with information technology workers, realized the North Charleston unit could be spun off, sold or otherwise developed on its own. “It’s a valuable piece of property,” Yarus said.

The biometric process involves scanning individual markers such as fingerprints, then storing the distinguishing characteristics digitally.

The advantage over personal identification numbers, picture IDs and magnetic swipe cards is that biometric attributes are harder to reproduce.

Biometric Solutions is focusing on commercial sales and installation of its sensors, which can be tied in with most biometric devices. The company is installing or has completed projects for the Pennsylvania and Utah prison systems, Chicago O’Hare Airport and Chicago public schools.