· Sale Officially Approved on November 3, 2009 · ComVest to Become New Majority Owner of Velocity Express · Transaction Eliminates over $100 Million of Debt · Velocity Believes it Will Have One of Industry’s Strongest Balance Sheets WESTPORT, Conn – Velocity Express Corporation, the nation’s largest provider of time definite regional delivery solutions, announced
The Comvest Group Closes Less than Two Months After Chapter 11 Bankruptcy Filing. LONG ISLAND CITY, NY, – Cynergy Data and The Comvest Group announced today that Cynergy Holdings, LLC, an investment vehicle that is managed by The Comvest Group, has completed the acquisition of substantially all of Cynergy Data’s assets for $81 million. In
· Restructuring will Eliminate $100+ Million of Debt and Create a Financially Stronger Company · Substantial Reduction in Leverage Will Help Poise Velocity for Substantial Future Growth · Company Expects to Complete Restructuring in 30 to 45 Days · Operations will Continue As Usual During Restructuring Period · All Employee and Independent Contractor Payments Will
SOUTHBOROUGH, MA., September 4, 2009- Averion International Corporation (OTC BB: AVRO), today announced that it has filed an information statement with the Securities and Exchange Commission (SEC) regarding its plan to go private. A majority of the Company’s common shareholders have approved an amendment to the Company’s certificate of incorporation to affect a reverse stock
LONG ISLAND CITY, NY, September 1, 2009 – Cynergy Data today announced that it has voluntarily initiated proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in Delaware and is pursuing a sale process under Section 363 of the Bankruptcy Code. Cynergy Data has entered into an asset purchase agreement
EMC’s new Asia-Pacific gateway provides EMC’s customers with a direct connection between the United States and Asia for private data networks and video content distribution at land and sea. MIAMI, FLORIDA – AUGUST 2009 – Emerging Markets Communications (EMC) has successfully purchased from Telesat Canada the Telesat Asia Pacific Gateway located in Kapolei, Hawaii. EMC’s
West Palm Beach & Sunrise Florida. ComVest NationsHealth Holdings, LLC, a wholly owned subsidiary of ComVest Investment Partners III, L.P., announced today that has it completed its previously announced acquisition of NationsHealth, Inc. (OTCBB:NHRX – News). In connection with the closing of the transaction, ComVest made a $5.0 million investment in NationsHealth in the form
Sunrise Florida, NationsHealth, Inc. (“NationsHealth”) announced today that it has entered into a definitive merger agreement pursuant to which NationsHealth shall be acquired and taken private by ComVest NationsHealth Holdings, LLC, a wholly-owned subsidiary of ComVest Investment Partners III, L.P. (collectively, “ComVest”), a Florida-based private equity firm. Under the terms of the definitive merger agreement,
Quincy, Mass. Pipeline Data, a provider of payment processing and services, today announced that it has entered into restructuring agreements with its convertible noteholders, as well as with the holders of a $16 million put claim against the Company. The transaction was led by The ComVest Group (“ComVest”). Under the terms of the transaction, the
Hi-Way Equipment, a portfolio company of ComVest, acquires Equipment Support Services, Inc. of Houston. The combined company will operate under the name of Hi-Way Equipment Company and the organization will boast eleven offices and more than 200 employees in the southeast, central and north Texas areas. The combined company offers a broad range of premier
