ChoicePoint (NYSE: CPS) today announced the sale of its shareholder services business, EquiSearch Services, to Palladian Capital Partners, a New York-based private equity group.
EquiSearch, based in White Plains, N.Y., is a provider of lost account holder search and recovery services. The company was founded in Westchester County, N.Y., in 1988 and was acquired by ChoicePoint in 1998.
Palladian Capital Partners was established in 2004 to pursue principal investment opportunities in the middle market and is led by experienced private equity professionals and operating executives, supported by a board of advisors. Palladian partners with existing management teams to build profitable, sustainable businesses and to realize significant returns on capital for management, its investors, and its partners.
The divestiture is not expected to have a material impact on ChoicePoint’s financial results.
ChoicePoint (NYSE: CPS) provides businesses, government agencies and non-profit organizations with technology, software, information and marketing services, all intended to help manage economic and physical risks as well as identify business opportunities. Each year, we help more than six million people get the jobs they seek and more than 100 million people get fairly priced home and auto insurance. Our authentication and anti-fraud tools improve efficiency and instill confidence in the decision-making process for our customers and consumers.
About Palladian Capital Partners
Palladian Capital Partners makes control or near-control equity investments in established companies. Palladian’s investment strategy is to work with existing management teams to accelerate growth and enhance the value of a business by providing capital, marketing expertise, operating refinements, access to acquisition opportunities and other resources that may not have previously been available. Industry focus areas include software, technology and technology services, business services, business process outsourcing (BPO) services, transaction services, value added distribution, and niche or specialty manufacturing.