Buyout (LBO, MBO, MBI) • Information Services

H.I.G. Private Equity and Prospect Capital Management Acquire Progrexion

On January 1, 2010, private equity firm H.I.G. Private Equity and business development company Prospect Capital Management acquired information services company Progrexion

Acquisition Context
  • This is H.I.G. Private Equity’s 1st and Prospect Capital Management’s 1st transaction in the Information Services sector.
  • This is H.I.G. Private Equity’s 68th and Prospect Capital Management’s 44th transaction in the United States.
  • This is H.I.G. Private Equity’s 3rd and Prospect Capital Management’s 3rd transaction in Utah.
Investment Fate
  • Progrexion went bankrupt in 2023.

Explore All 109 Buyout (LBO, MBO, MBI) Information Services Deals - Search the Database Free


M&A Deal Summary

Date January 1, 2010
Target Progrexion
Sector Information Services
Buyer(s) H.I.G. Private Equity
Prospect Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Progrexion

Salt Lake City, Utah, United States
Progrexion is a marketing and information services business serving the consumer credit information sector. The Company's unique turnkey solution combines lead generation through online and offline direct marketing, teleservice activities that support lead conversion, and proprietary analytical tools that manage customer information and relationships. Progrexion was founded in 2000 and is based in Salt Lake City, Utah.
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Buyers Overview 2

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


Deal Context for Buyer #
Overall 75 of 385
Sector: Information Services 1 of 3
Type: Buyout (LBO, MBO, MBI) 34 of 118
State: Utah 3 of 6
Country: United States 68 of 251
Year: 2010 2 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Binder & Binder

Hauppauge, New York, United States

Binder & Binder is a social security disability advocacy firm. The Company assists thousands of American citizens each year who have become disabled navigate the complex process of qualifying for Social Security Disability Insurance. Binder & Binder has approximately 1,000 employees across 22 offices in the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-08 Surgery Partners

Brentwood, Tennessee, United States

Surgery Partners is a healthcare services company with a differentiated outpatient delivery model focused on providing high-quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. Surgery Partners was founded in 2004 and is based in Brentwood, Tennessee.

Buy -
Buyer

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


Deal Context for Buyer #
Overall 45 of 86
Sector: Information Services 1 of 1
Type: Buyout (LBO, MBO, MBI) 25 of 41
State: Utah 3 of 3
Country: United States 44 of 83
Year: 2010 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-11 Cineverse

New York, New York, United States

Cineverse is a provider of systems and services to motion picture studios and exhibitors to enable the digital delivery of motion pictures. Cineverse was formed in 2000 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-27 UniTek Global Services

Jackson, Mississippi, United States

UniTek Global Services provides outsourced infrastructure services for the telecommunications, broadband cable, and satellite television industries. UniTek Global Services was founded in 2010 and is based in Jackson, Mississippi.

Buy -