Warburg Pincus Completes Acquisition of Rural/Metro Corporation
June 30 2011 - 2:05PM
Marketwired
Rural/Metro Corporation (NASDAQ: RURL), a leading national provider
of ambulance and private fire protection services, today announced
the completion of its acquisition by affiliates of the global
private equity firm Warburg Pincus, LLC. Pursuant to the terms of
the previously announced Agreement and Plan of Merger dated March
28, 2011, the Company's stockholders will receive $17.25 per share
in cash, without interest, less any applicable withholding taxes,
for each share of Rural/Metro common stock owned.
Michael DiMino, President and Chief Executive Officer, said, "We
are delighted to join the Warburg Pincus family of portfolio
companies and to recognize the value that our stockholders have
realized through this transaction."
"We extend our thanks to our Board of Directors, our
stockholders, and the 8,000 Rural/Metro employees throughout the
nation who are committed to our success as the industry leader for
ambulance and private fire protection services," Mr. DiMino added.
"We look forward to partnering with Warburg Pincus to implement the
strategies that will support our growth for the future."
Sean Carney, a Warburg Pincus Managing Director, said,
"Rural/Metro is an expert operator in a healthcare services
industry that has tremendous growth potential. We believe the
enterprise and its experienced leadership team have what it takes
to execute on its organic and strategic growth plans, to leverage
the strength of its national platform for the benefit of the
communities it serves, and to deliver world-class care and
protection to its patients and customers."
Rural/Metro stockholders of record who hold stock certificates
("registered stockholders") will soon receive a letter of
transmittal from the Company's payment agent, Computershare, with
instructions describing how to receive their proceeds. Registered
stockholders within the U.S. and Canada may contact Computershare
toll-free at 800-546-5141 for more information. Registered
stockholders outside of the U.S. and Canada may contact
Computershare at 781-575-2765 for more information.
Stockholders who hold their shares beneficially through banks,
brokerage firms or other nominees ("beneficial stockholders") will
receive information from their bank, brokerage firm, or other
holder of record describing how to receive their proceeds.
Beneficial stockholders should contact their banks, brokers or
other holders of record directly for more information.
About Rural/Metro
Rural/Metro Corporation provides emergency and non-emergency
ambulance services and private fire protection services in 20
states and approximately 450 communities throughout the United
States. For more information, visit the Company's web site at
www.ruralmetro.com.
About Warburg Pincus
Warburg Pincus is a leading global private equity firm. The firm
has more than $30 billion in assets under management. Its active
portfolio of more than 125 companies is highly diversified by
stage, sector, and geography. Warburg Pincus is a growth investor
and an experienced partner to management teams seeking to build
durable companies with sustainable value. Founded in 1966, Warburg
Pincus has raised 13 private equity funds which have invested more
than $35 billion in over 650 companies in more than 30
countries.
Since inception, the firm has invested approximately $7.5
billion in healthcare companies, including investments in American
Medical Systems (NASDAQ: AMMD), Bausch & Lomb, Coventry Health
Care (NYSE: CVH), Euromedic International (acquired by Merrill
Lynch Global Private Equity and Ares Life Sciences in 2008), Harbin
Pharmaceuticals (SHA: 600664), InterMune (NASDAQ: ITMN), Lepu
Medical Technology (SHE: 300003), RegionalCare Hospital Partners,
ReSearch Pharmaceutical Services and Tornier (NASDAQ: TRNX).
The firm is headquartered in New York with offices in Amsterdam,
Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius,
Mumbai, San Francisco, Sao Paulo and Shanghai. For more
information, please visit www.warburgpincus.com
(RURL/F)
Contacts For Rural/Metro Corporation Liz Merritt
480-606-3337 Email Contact For Warburg Pincus Ed Trissel
(212) 878-9288 Email Contact Rory Mackin (212) 878-9322 Email
Contact
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