H.I.G. Capital Acquires Evercom Holdings, Inc.-Forms Securus Technologies, Inc.
September 10, 2004 – H.I.G. Capital, a Miami-based private equity firm, announced today that it has successfully completed the acquisition of Evercom Holdings, Inc. Evercom is a leading provider of specialized telecommunications products and services, including security enhanced call processing, call validation and billing for the corrections communications marketplace.
Evercom and T-Netix, also a leading provider in the corrections communications marketplace and an existing portfolio company of H.I.G., will both become a subsidiary of a newly formed entity, Securus Technologies, Inc., which will have revenues in excess of $350 million.
Dick Falcone, President and CEO of Evercom and CEO of Securus commented, “We are extremely excited about the combination of T-Netix and Evercom. With this combination, we are positioned to continue to provide a superior level of customer service to our growing customer base.”
Rick Cree, CEO of T-Netix and Chairman of Securus added, “As one entity, Evercom and T-Netix will be able to provide an even greater selection of products and services to our customer base.”
“H.I.G. is very excited about our investment in Securus Technologies, Inc.” said Lewis Schoenwetter, a Principal with H.I.G. Capital. “T-Netix and Evercom’s outstanding management teams and compelling business model provide for a solid investment. The combination of these two companies, and their relentless pursuit of customer service, will continue to prove as an engine of growth for the future”
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $1.5 billion of equity capital under management. Based in Miami, Florida, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of well-established, profitable, and well-managed manufacturing or service businesses, and in promising early stage technology companies. Since its founding, H.I.G. has made more than fifty highly successful investments, acquiring companies with combined revenues in excess of $4.0 billion.