Comprehensive data and news on U.S. private companies owned by private equity firms
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The prison telecom provider, now called Aventiv Technologies, shows improved margins despite regulatory challenges...
(Aventiv Technologies)
Leading provider of inmate communications, corrections technology, and payment services to prisons and jails.
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| Date | Company | Transaction | PE Firm | Value | Sector |
|---|---|---|---|---|---|
| 06/15/2023 |
PetVet Care Centers
|
Secondary Buyout | KKR (from L Catterton) | $4.0B | Veterinary |
| 05/22/2023 |
Veritas Technologies
|
Acquisition | Carlyle Group | $1.1B | Software |
| 04/30/2023 |
West Corporation
|
Exit to Strategic | Apollo Global (to Cisco) | $3.2B | Communications |
| 04/18/2023 |
SRS Distribution
|
Secondary Buyout | Blackstone (from Berkshire) | $1.8B | Building Products |
(Aventiv Technologies)
Securus Technologies, rebranded as Aventiv Technologies in 2020, is a leading provider of inmate communications, corrections technology, and payment services to prisons and jails across North America. The company serves approximately 3,450 correctional facilities and over 1.2 million inmates nationwide.
Regulatory Risk: Ongoing FCC regulations limiting inmate call rates
Competition: New entrants offering lower-cost digital solutions
Leverage: High debt load from 2017 LBO (6.5x EBITDA at close)
Stickiness: High customer retention due to regulatory barriers
Private Equity Firm since 2017
| Owner | Period | Type | Transaction Details |
|---|---|---|---|
| ABRY Partners | 2011 - 2017 | Private Equity | Acquired from H.I.G. Capital for $685M |
| H.I.G. Capital | 2007 - 2011 | Private Equity | Leveraged buyout from public markets |
| Public (Nasdaq: SECU) | 1996 - 2007 | Public | IPO in 1996 at $12/share |
Chief Executive Officer
Joined Securus in 2015 as President before being promoted to CEO in 2018. Previously served as President of Global Crossing's North American operations. Brings over 25 years of telecom leadership experience with a focus on regulated industries.
Chief Financial Officer
Appointed CFO in 2020 after serving as VP of Finance. Formerly with GTCR portfolio company where she led finance for their telecom division. Specializes in high-leverage capital structures and cost optimization in regulated industries.
| Name | Title | Tenure | Background |
|---|---|---|---|
| Robert Pickens | Chief Technology Officer | 2019-Present | Former VP Engineering at Vonage |
| Lisa Nelson | Chief Legal Officer | 2016-Present | Former FCC attorney |
| James Clark | Head of Corrections | 2014-Present | Former prison warden |
The Federal Communications Commission voted 3-2 to propose lowering the maximum rates that companies like Securus can charge for inmate calling services. Analysts estimate this could reduce Securus' annual revenue by 8-12% if implemented...
Aventiv Technologies unveiled "ConnectHome," a new digital platform allowing inmates to communicate with families via secure messaging and video. The move aims to offset declining call revenue and modernize the inmate communications experience...
Moody's Investors Service downgraded Securus Technologies' corporate family rating to B3 from B2, citing increased regulatory risks and competitive pressures. The rating agency maintained a negative outlook on the company...
Private Equity Firm
Platinum Equity is a global investment firm with approximately $25 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. Founded in 1995 by Tom Gores, the firm specializes in mergers, acquisitions, and operations of companies that provide mission-critical products and services.
| Fund | Vintage | Size | Focus |
|---|---|---|---|
| Platinum Equity Capital Partners V | 2021 | $10.0B | Large-cap buyouts |
| Platinum Equity Small Cap Fund II | 2020 | $1.5B | Middle-market |
| Platinum Equity Capital Partners IV | 2016 | $6.5B | Large-cap buyouts |
Telecommunications
Specialty Chemicals
Data Center Infrastructure
Platinum Equity announced the acquisition of Presidio, a leading IT solutions provider, from BC Partners. The deal represents Platinum's largest tech sector investment to date and expands its presence in digital infrastructure...
Platinum Equity completed the sale of its portfolio company, a specialty diagnostics firm, to Thermo Fisher Scientific. The exit generated an estimated 3.5x return on Platinum's 2019 investment...