Pinkerton Computer Consultants, Inc. Announces Completion of Capital Expansion Plan
Trevose, PA - October 5, 2000 - Pinkerton Computer Consultants, Inc. (PCCI, http://www.pcci.com) announced today that key management, together with H.I.G. Capital, a prominent equity investment firm, and Bank of America Commercial Finance have acquired all of the common stock of PCCI previously held by its stock ownership plans. Debt financing was provided by Bank of America Commercial Finance and Bank One. PMG Capital initiated and arranged the transaction.
"Pinkerton Computer Consultants is implementing an aggressive expansion plan including acquisitions of complementary businesses and joint ventures that supplement its product offerings and allow it to better serve its clients' growing needs in additional key geographic markets," said Richard J. Quigley, President and Chief Operating Officer. "This transaction gives us the right partners and the backing and structure to make this happen."
PCCI is a leading, high-end, privately held information technology professional services company with particular strengths in the financial services, telecommunications, and e-Business markets. Founded in 1967 in the Philadelphia area by William D. Pinkerton, Chairman and Chief Executive Officer, PCCI has grown to become an international organization that employs over 1,100 persons and serves major commercial, federal, and state government clients.
PCCI's wide-ranging services are provided through three divisions working seamlessly to provide the right mix of skills for its clients' individual needs. Pinkerton Computer Consultants Professional Services provides traditional application development and maintenance, as well as practices specialized in outsourcing and e-Business solutions. Pinkerton Scientific delivers strategy, architecture, and advanced technology solutions. Provident Computer Consultants, a wholly owned subsidiary, establishes a virtual office offering off-shore services through its Manila, Philippines facility, enabling its clients to work as comfortably and easily as if they were in the office next door. PCCI's outsourcing, integration, systems development, and e-Business solutions enable it to stand strong as one of the most respected and financially sound technology firms in the world..
About H.I.G. Capital
H.I.G. is a private equity and venture capital investment firm with more than $750 Million of equity capital under management. Since its founding in 1993, H.I.G. has been an active investor in management-led buyouts and recapitalizations as well as venture capital technology investments. H.I.G. currently has investments in more than 45 companies with combined revenues in excess of $3 Billion.
About PMG Capital Corp.
PMG Capital Corp. (PMG, http://www.pmgcapitalcorp.com) offers comprehensive investment banking services to emerging growth companies worldwide, with major focus on the technology and healthcare fields. PMG Capital's corporate headquarters are in suburban Philadelphia, PA with additional offices in Chicago, San Francisco, and Metro New York.