Praesidian Capital LLC exited its investment in Venio LLC, which was
acquired by The Keane Organization. CORRECTION: Praesidian Capital LLC exited its investment in Venio LLC. The exit was facilitated by Venio’s purchase of certain divisions from The Keane Organization and a new financing associated with the transaction. Praesidian of New York is a provider of mezzanine capital for small and mid-sized companies. It added Venio to its portfolio in December 2008. (An item published earlier incorrectly reported that Venio was acquired by The Keane Organization.)
Praesidian Capital (“Praesidian” or “the Firm”), a leading provider of mezzanine capital for small and mid-sized companies, has successfully exited its investment in Venio, LLC (“Venio”). Praesidian’s exit was facilitated by Venio’s acquisition of certain divisions of The Keane Organization and the new financing associated with the transaction. Venio has been in the Praesidian portfolio since December 2008, when Praesidian invested approximately $16.5 million to support a recapitalization conducted by Venio’s management and financial sponsor, DFW Capital Partners.
“Since our investment in Venio, the Company has remained a strong, stable leader in the shareholder services industry,” said Jason D. Drattell, Managing Partner at Praesidian Capital. “We are pleased to have supported Venio’s continued growth and excited to see it successfully complete this acquisition which is an important step to further its development.”
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses, providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian Capital invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian Capital manages over $400 million in committed capital. For more information, visit www.praesidian.com.
About Venio, LLC
Venio locates owners of unclaimed assets or abandoned property for banks, brokerage firms, mutual funds, insurance companies, and privately- and publicly-held companies. The Company’s nationwide staff has one of the highest success rates in the industry in reactivating lost and dormant accounts. Venio uses the most advanced technology and research tools to create efficient and cost-effective solutions specifically tailored to client needs. The Company’s search/location, reporting and risk management services ensure compliance with SEC and state regulations, reduce expenses and improve customer/asset retention.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is backed by both institutional and high-net worth individual investors, and has established a 20+ year track record of success in both building leading companies, and recognizing excellent returns for its investors. DFW is headquartered in Teaneck, NJ. For more information contact Keith Pennell, General Partner, at (201) 836-6000.