Investment Summary

Exits Comet Systems

On March 1, 2004, invested in information technology company Comet Systems from Advantage Capital Partners for 34M USD

Investment Highlights
  • This is transaction in the Information Technology sector.
  • This is largest (disclosed) transaction.
  • This is transaction in the United States.
  • This is transaction in New York.

Investment Summary
Date 2004-03-01
Target Comet Systems
Sector Information Technology
Sellers(s) Advantage Capital Partners
Deal Type Trade Sale - Public Company
Deal Value 34M USD

Target

Comet Systems

New York, New York, United States
website
Comet Systems, Inc. provides utility services to users who download its Genesis platform. The company provides its Genesis platform free to people who want access to its search engine, Pop-Up Ad Zapper, and other utilities. The system allows for contextual marketing from advertisers who work in conjunction with Comet. The company raised and spent over $25 million developing the system and has had over 180,000,000 around the world download their software. In 2004, the company was sold to FindWhat.com.

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Seller(S) 1

SELLER

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.

DEAL STATS #
Overall 7 of 94
Sector (Information Technology) 2 of 12
Type (Trade Sale - Public Company) 4 of 13
State (New York) 1 of 11
Country (United States) 7 of 94
Year (2004) 2 of 3
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Hornbeck Offshore Services

Covington, Louisiana, United States

Hornbeck Offshore Services is a provider of marine transportation services to exploration and production, oilfield service, offshore construction, and military customers. Hornbeck Offshore Services was founded in 1997 and is based in Covington, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-12 Historic Restoration

New Orleans, Louisiana, United States

HRI specializes in the revitalization of historic buildings through the development of multi-use real estate projects. The company is a fully integrated real estate company with expertise in urban planning, design, construction, marketing, finance, brokerage, property asset management and parking operations.

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