M&A Deal Summary

The GEO Group Acquires BI

On February 14, 2011, The GEO Group acquired technology hardware company BI from AEA Investors and Intermediate Capital Group for 415M USD

Acquisition Highlights
  • This is The GEO Group’s 1st transaction in the Technology Hardware sector.
  • This is The GEO Group’s 2nd largest (disclosed) transaction.
  • This is The GEO Group’s 2nd transaction in the United States.
  • This is The GEO Group’s 1st transaction in Colorado.

M&A Deal Summary

Date 2011-02-14
Target BI
Sector Technology Hardware
Buyer(s) The GEO Group
Sellers(s) AEA Investors
Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 415M USD

Target

BI

Boulder, Colorado, United States
BI, Inc. is a provider of alternative to incarceration products offering the following services to federal, state, and local government agencies: Electronic Monitoring, Re-entry & Supervision Services, and the Intensive Supervision Appearance Program.

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Buyer(S) 1

Buyer

The GEO Group

Boca Raton, Florida, United States

Category Company
Founded 1984
Sector Real Estate
Employees18,000
Revenue 2.4B USD (2023)
DESCRIPTION

The GEO Group engages in the ownership, leasing, and management of secure facilities, reentry facilities, and processing centers in the United States, Australia, and South Africa. The company provides counseling, education, and treatment for alcohol and drug abuse problems at various facilities; and compliance technologies for monitoring services, and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants. The GEO Group was founded in 1984 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 2 of 3
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 3
Year (2011) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-30 Cornell Companies

Houston, Texas, United States

Cornell is an industry leader in correctional and treatment services to local, state and federal governments. For over 35 years, Cornell has provided a wide range of corrections and treatment programs for adults and juveniles, including low and medium security prisons, detention centers, residential re-entry centers, drug and alcohol treatment programs, juvenile detention and alternative education.

Buy $730M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-22 Community Education Centers

West Caldwell, New Jersey, United States

Community Education Centers is a national provider of rehabilitative services for offenders through reentry and in-custody treatment programs as well as comprehensive management services for county, state, and federal correctional and detention facilities. CEC provides evidence-based programming for residential and non-residential clients through reentry and correctional facilities, in-prison treatment services, and outpatient and day reporting programs.

Buy -

Seller(S) 2

SELLER

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


DEAL STATS #
Overall 18 of 78
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 6 of 25
State (Colorado) 1 of 1
Country (United States) 15 of 71
Year (2011) 3 of 7
Size (of disclosed) 10 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-31 Performance Sports Group

Exeter, New Hampshire, United States

Performance Sports Groupis a developer and manufacturer of ice hockey, roller hockey, lacrosse, baseball and softball sports equipment, as well as related apparel and soccer apparel. Performance Sports Group was founded in 1927 and is based in Exeter, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-25 Conner Steel Products

San Angelo, Texas, United States

Conner Steel Products, Inc. a manufacturer of above ground steel and fiberglass storage tanks for the natural gas and oil industry and a leading provider of material handling and storage equipment used primarily by oil and gas service companies in the well fracturing process.

Sell -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 116 of 217
Sector (Technology Hardware) 1 of 2
Type (Add-on Acquisition) 29 of 67
State (Colorado) 2 of 2
Country (United States) 5 of 13
Year (2011) 2 of 11
Size (of disclosed) 45 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-09 `Gealan

Oberkotzau, Germany

Gealan is a manufacturer of plastic window systems producing frames for window manufacturers, with a growth focus on Eastern Europe. Gealan was founded in 1921 and is based in Oberkotzau, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-24 Gerflor

Lyon, France

Gerflor designs, manufactures and markets innovative, decorative, eco-responsible and complete solutions for resilient floors, wall coverings and accessibility, from installation to finish for professionals and individuals. Gerflor was founded in 1937 and is based in Lyon, France.

Sell -