CHICAGO--(BUSINESS WIRE)--Maranon Capital, L.P. announced today that it provided a $40 million senior debt facility as well as $23 million of mezzanine debt and equity co-investment to support the acquisition of The Keane Organization by Venio, LLC. The financing facilitated repayment of existing debt and the buyout of certain minority shareholders of Venio. DFW Capital Partners, Venio’s majority shareholder, invested additional equity to support the transaction. The transaction was Maranon’s ninth investment of 2010.
The combination of Venio and Keane creates the leading firm in the unclaimed property services industry. Venio’s CEO, Michael O’Donnell, will lead the combined company, which will operate under the Keane name. Keane provides communications, compliance and consulting services to more than 1,500 corporations, mutual funds, banks, brokerages and transfer agents.
“Maranon Capital provided a comprehensive solution to address the financing needs of the transaction,” commented Keith Pennell, General Partner of DFW Capital Partners. “They were thoughtful and decisive throughout the process, and we look forward to working with them going forward.”
Demian Kircher, Managing Director of Maranon Capital stated, “We invest in market-leading companies. With this business combination, Mike and the other members of Keane’s management team are clearly positioned to offer their clients a suite of capabilities superior to either independent competitors or in-house solutions.”
Ian Larkin, Co-Founder and Managing Director of Maranon Capital said, “We are pleased to be partners with DFW Capital Partners and Keane’s management in this business. With fifteen completed transactions and one successful realization, we are building a reputation as a reliable source of capital for the middle market.”
About Maranon Capital
Maranon Capital, L.P. provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. Maranon has the flexibility to structure a one-stop financing solution or to provide stand-alone senior or mezzanine debt. The firm does not take control equity positions, but will consider a minority equity role in conjunction with a financing relationship. Maranon is currently managing over $550 million of committed capital. The firm is headquartered in Chicago, IL with additional offices in Birmingham, MI and South Bend, IN. For more information about Maranon Capital please visit www.maranoncapital.com
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is backed by both institutional and high-net worth individual investors, and has established a 20+ year track record of success in both building leading companies, and realizing outstanding returns for its investors. DFW is headquartered in Teaneck, NJ, and maintains an office in Washington, D.C. For more information, please visit www.dfwcapital.com.
Keane is the number one provider of unclaimed property communications, compliance and consulting services in the United States. From customized communications programs and data analysis to in-depth consulting and annual compliance reporting, Keane provides corporations, mutual funds, banks, brokerages, and transfer agents with a depth and breadth of services that is unmatched. Each Keane service helps clients reduce costs, protect shareholders, or retain customers while successfully navigating the complexities of unclaimed property regulations. With headquarters in New York, NY, an operating facility in Wayne, PA, and offices in Salt Lake City, UT and Sacramento County, CA, Keane employs more than 160 people. For more information, please visit http://www.keaneco.com/.