News & Media
Heritage Capital Group announces the successful negotiation of investor capital for Administar Services Group, LLC
Jacksonville-based claims administration and processing company receives investment from Chicago-based private equity firm
JACKSONVILLE, FLORIDA, Jan. 2007 – Heritage Capital Group, Inc. announced that it successfully completed a transaction for an investment in Administar Services Group, LLC by Prairie Capital, LLC.
Administar Services Group (“ASG”) is based in Jacksonville, Florida and is a leading provider of various forms of bankruptcy and class action claims administration services. Prairie Capital is a Chicago-based private equity firm with over $500 million in committed capital that invests in, and partners with, the management of privately-held, middle market companies. Heritage Capital Group, Inc. served as intermediary and financial advisor to Administar on the transaction.
David Leininger, Founder and President of Administar commented, “I am truly pleased with the outcome of this transaction. During the last several years, the team at Heritage Capital has been instrumental in assisting us with the process of maximizing shareholder value and choosing the right investment partner at the right time. As a result, we were able to maximize the value we had built in the company, and to move forward with a partner that shares our vision and has the resources to take Administar to the next level.”
Commenting on the transaction, K.C. Caldabaugh, a Principal with Heritage said, “The capital markets continue to be strong, so there is significant capital available for investment, particularly for an attractive, well-run company like Administar that has established a niche in its industry.”
Administar utilizes creative solutions and proprietary technology to streamline complex legal proceedings. In large corporate bankruptcies and class action litigation, Administar collects, organizes and disseminates massive amounts of data, and simplifies the many administrative details involved in such proceedings. It provides services to a national network of lawyers, law firms and financial and restructuring professionals.
Heritage Capital Group, Inc. is a middle market investment banking firm located in Jacksonville, Florida and a founding member of M&A International.