H.I.G. Capital Acquires Pegasus Financial Services
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H.I.G. Capital Acquires Pegasus Financial Services

H.I.G. Capital has acquired Pegasus Financial Services, a processor of commissions payments between hotels and travel agencies.

Pegasus Financial Services (PFS) is a processor of commissions paid by hotels to travel agencies. Services include commissions receipt and disbursement, foreign currency exchange, and reconciliation and tracking services. PFS was founded in 1992 and is based in Dallas (hwww.pegs.com).

Prospect Capital provided a $34.4 million senior secured financing to support this acquisition. “Prospect quarterbacked and structured a creative debt financing solution on an accelerated timeline, demonstrating again why we have worked with Prospect on multiple occasions,” said William Nolan, a Managing Director of H.I.G.

H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. Capital has more than $11 billion of equity capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Paris, and Rio de Janeiro (www.higcapital.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 4-24-13

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