Bankruptcy • Information Services

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

On June 4, 2023, invested in information services company Progrexion from H.I.G. Private Equity and Prospect Capital Management

Investment Context
  • This is transaction in the Information Services sector.
  • This is transaction in the United States.
  • This is transaction in Utah.

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Investment Summary

Date June 4, 2023
Target Progrexion
Sector Information Services
Sellers(s) H.I.G. Private Equity
Prospect Capital Management
Deal Type Bankruptcy

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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Seller Profiles 2

SELLER

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 Seller #
Overall 158 of 181
Sector: Information Services 2 of 2
Type: Bankruptcy 8 of 10
State: Utah 1 of 1
Country: United States 113 of 124
Year: 2023 5 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-12 Tower Engineering Professionals

Raleigh, North Carolina, United States

Tower Engineering Professionals is an operator of engineering services firm focused on serving the telecommunications industry. Tower Engineering Professionals' services include structural analysis, civil engineering, surveying; environmental, inspection, geotechnical, renewable energy, residential, commercial, plumbing, mechanical, and electrical, and structural modification and design. Tower Engineering Professionals was founded in 1997 and is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-09 Riveron

Dallas, Texas, United States

Riveron is a provider of event-driven financial consulting and due diligence for corporate clients and private equity firms. Riveron operates across three practice areas Financial Advisory, Transaction Advisory, and Business Advisory. Riveron Consulting was founded in 2006 and is based in Dallas, Texas.

Sell -
SELLER

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 Seller #
Overall 47 of 48
Sector: Information Services 1 of 1
Type: Bankruptcy 3 of 3
State: Utah 1 of 1
Country: United States 46 of 47
Year: 2023 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-19 Targus

Anaheim, California, United States

Targus is a provider of quality and innovative mobile computer accessories, cases, and bags. Targus was formed in 1983 and is based in Anaheim, California.

Sell $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-13 Shearer’s Foods

Massillon, Ohio, United States

Shearer's Foods is a producer of high-quality seasoned snack foods and related products. Shearer's produces kettle chips. Shearer's Foods was formed in 1974 and is based in Massillon, Ohio.

Sell -