BAIN CAPITAL COMPLETES ACQUISITION OF EXECUTONE'S DIRECT SALES AND SERVICES GROUP.BOSTON--(BUSINESS WIRE)--June 4, 1996 -- Executone Business Solutions, an investment group led by Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. , Inc., today announced it has completed its acquisition of the Direct Sales and Services Group of Executone Information Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :XTON XTON Christleton (Chester, UK) ), including its network services division. Executone Information Systems will receive $61.5 million in cash and a $5.9 million five-year subordinated note, along with warrants to purchase 8% of the equity of the new company. Executone Business Solutions will sell and service Executone telephone products to those businesses and commercial locations that require up to 400 telephones, under a five-year exclusive distribution agreement signed by the two companies. Stephen Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and G. Pagliuca, a managing director at Bain Capital, said: "The acquisition of Executone's Direct Sales and Services Group is a wonderful opportunity to participate in the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. industry. We believe the group will help to create a platform for expansion in this sector." Bain Capital, Inc., a private equity investment firm, and its affiliate, Information Partners, manage more than $1 billion in private equity capital. Since its formation in 1984, Bain Capital has invested in more than 50 companies, with combined sales in excess of $9 billion. Investments cover a wide range of industries beyond telecommunications, including healthcare, information, consumer products, retail and manufacturing. CONTACT: Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a E. Nicolazzo Bain Capital, Inc., 617/227-4150 |
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