Apex Capital Corporation Arranges Equity Financing and Joint Ventures for Heritage Technologies, Ltd.Business/Energy Editors & High-Tech Writers MIAMI--(BUSINESS WIRE)--Oct. 12, 2001 Apex Capital Corporation ("Apex"), a private equity firm, announced today that it has closed a second round of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. worth approximately $2.0 million for Heritage Technologies, Ltd., a provider of bundled residential telecommunication services. Apex also announced the arrangement of a joint venture between Heritage and TECO (Text Editor and COrrector) A text editor written in 1963 by Dan Murphy at MIT for editing paper tape on a Digital PDP-1 computer (it was originally called "Tape Editor and Corrector"). Partners, an unregulated Adj. 1. unregulated - not regulated; not subject to rule or discipline; "unregulated off-shore fishing" regulated - controlled or governed according to rule or principle or law; "well regulated industries"; "houses with regulated temperature" 2. subsidiary of TECO Energy TECO Energy, Inc. (NYSE: TE) is an S&P 500 electrical power company located in Tampa, Florida. "TECO" is short for "Tampa Electric Co." Environmental record ("TECO"). The joint venture, known as Litestream Technologies, will provide bundled residential telecommunication services in selected counties within the State of Florida. TECO Energy, through its Peoples Gas subsidiary provides, among other things, gas to master-planned communities throughout the State of Florida. The TECO/Heritage joint venture provides both parties with numerous operational economies of scale in their businesses. Additionally, the joint venture will enable Heritage to substantially increase the pace of its internal subscriber growth in Florida. The TECO/Heritage joint venture's first development areas are in St. Johns County, Orange County, Hillsborough County Hillsborough County is the name of two counties in the United States:
Apex also has transferred its interest in Pasco Broadband to Heritage. Pasco Broadband is a cable television provider in Pasco County, Fla. As part of the transaction, Robert D. Rubin, president of Apex, has become chairman of the board of Heritage's general partner. About Heritage Founded in 2000, Heritage, a Houston company, provides a bundled package of telecommunication services with advanced capabilities to residential master-planned communities. The package includes video, voice, data and alarm monitoring services The general surveillance of known air traffic movements by reference to a radar scope presentation or other means, for the purpose of passing advisory information concerning conflicting traffic or providing navigational assistance. in these communities. The services are delivered over a deep fiber optic distribution system installed within each community. About Apex Founded in 2000, Apex is an equity investor in private companies. Apex partners with management in companies poised for growth. Apex concentrates on recapitalizations, acquisitions, leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. and industry consolidations. Its industry expertise is in telecommunications, business services, real estate investment and related services. About TECO Partners Founded in 2001, Partners provides sales and marketing expertise for the energy industry and its related concerns. With sales representatives throughout the state of Florida's largest metropolitan cities, Partners provides a variety of programs and services that add value to the bottom line of many residential, commercial and industrial customers. About TECO Energy TECO Energy (NYSE NYSE See: New York Stock Exchange :TE) is a diversified, energy-related holding company based in Tampa, Fla. In addition to Partners, its principal businesses include Tampa Electric Company, TECO Peoples Gas, TECO Power Services, TECO Transport, TECO Coal, TECO Coalbed Methane Coalbed methane is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, and other countries. , TECO Propane Ventures and TECO Solutions. |
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