Harris Williams & Co. Advises BI Incorporated in Its Merger with The GEO Group
February 14 2011 - 12:49PM
Business Wire
Harris Williams & Co. is pleased to announce that BI
Incorporated (BI), a portfolio company of AEA Investors LP (AEA),
has merged with The GEO Group (GEO; NYSE:GEO). The transaction,
valued at approximately $415 million, closed on February 10, 2011.
The transaction was led by Chris Williams from the firm’s Richmond
office as well as Jim Reinhart, Vince Carey, and Matt Conaty from
the firm’s San Francisco office. Harris Williams & Co.
previously advised BI in its 2006 sale from Kohlberg & Company
to Quad-C Management and in its 2008 sale from Quad-C Management to
AEA.
“We have known BI’s management team for many years, and we are
delighted to have represented them again in their merger with GEO.
The transaction exemplifies the opportunities that are available
with the right strategic partner for a leader in a very targeted,
niche market,” said Chris Williams, managing director and
co-founder of Harris Williams & Co.
Established in 1978, BI is the leading technology, treatment and
supervision company in community corrections today. BI contracts
with approximately 900 governmental agencies nationwide, supporting
them with a full continuum of intensive supervision technologies
and community-based cognitive behavioral reentry programs for adult
and juvenile offenders. BI works closely with local public
corrections officials to cost effectively reduce recidivism,
promote public safety, and strengthen the communities it serves
using evidence-based practices in a community setting.
AEA, a global private equity partner to middle market companies,
was founded in 1968 by the Rockefeller, Mellon, and Harriman family
interests and S.G. Warburg & Co. AEA focuses on control buyouts
in four industry sectors: value-added industrial products,
specialty chemicals, consumer products, and services involved in
these sectors. Headquartered in NY, the company has locations in
Stamford, CT; London, Munich, Hong Kong, and Shanghai.
GEO is a world leader in the delivery of correctional,
detention, and residential treatment services to federal, state,
and local government agencies around the globe. GEO offers a
turnkey approach that includes design, construction, financing, and
operations. GEO represents government clients in the United States,
Australia, South Africa, and the United Kingdom. GEO’s worldwide
operations include the management and/or ownership of approximately
81,000 beds at 118 correctional, detention and residential
treatment facilities, including projects under development.
Harris Williams & Co. (www.harriswilliams.com), a member of
The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier
middle market advisor with a two-decade legacy of sell side
excellence serving clients worldwide. The firm is
focused exclusively on the middle market, providing sell
side and acquisition advisory, restructuring advisory,
board advisory, private placements and capital markets advisory
services.
Investment banking services are provided by Harris Williams LLC,
a registered broker-dealer and member of FINRA and SIPC, and Harris
Williams & Co. Ltd, an Appointed Representative of Sturgeon
Ventures LLP, which is authorized and regulated by the Financial
Services Authority. Harris Williams & Co. is a trade name under
which Harris Williams LLC and Harris Williams & Co. Ltd conduct
business in the U.S. and Europe, respectively.
For general release inquiries, please contact Kimberly Baker,
marketing director, at +1 (804) 648-0072.
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Jun 2024 to Jul 2024
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Jul 2023 to Jul 2024