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back to list6.27.2007
Boston, MA -- June 27, 2007 -- Great Hill Partners, LLC is pleased to announce the $106 million acquisition of triVIN, Inc. by American Capital Strategies, Ltd. ("American Capital") (NASDAQ:ACAS).
Great Hill Partners Announces Completion of Sale of triVIN, Inc.
triVIN, Inc. is a leading provider of title management services to automobile lenders and electronic vehicle registration services to automobile dealers. triVIN provides its services through two wholly-owned subsidiaries, FDI Collateral Management Inc. ("FDI") and General Systems Solutions Inc. ("GSS"). FDI provides third-party electronic and paper-based lien and title solutions that allow lenders to outsource the management of vehicle titles held as collateral for loans. GSS provides electronic vehicle registration software and services that allow auto dealers and fleet companies to electronically register vehicles directly with state Departments of Motor Vehicles. FDI provides vehicle title administration services to some of the nation's largest banks and captive automotive finance companies. GSS's customers are franchised and independent automobile dealers, as well as national fleet and rental companies. triVIN is headquartered in Groton, CT and has facilities in Vooreheesville, NY and Sacramento, CA. triVIN has more than 600 employees.
"We appreciate the support that Great Hill Partners provided over the years. They brought a solid understanding of the software space and were instrumental in our success," said Bill Rountree, triVIN CEO.
Lane, Berry & Co. International, LLC acted as the company's financial advisor.
About Great Hill Partners
Great Hill Partners, LLC is a private equity firm that manages over $1.5 billion in capital and focuses on investing in growth companies operating in the business and consumer services, media, internet services, transaction processing and software industries. Great Hill Equity Partners III, L.P. targets investments of $50 million to $100 million. For more information, please visit www.greathillpartners.com.
About American Capital
American Capital is the third largest U.S. publicly traded alternative asset manager with $12 billion in assets under management (third to The Blackstone Group (NYSE:BX) and Fortress (NYSE:FIG)). American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations.