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Aventiv Technologies Transformation Advancing With New Additions To Leadership Team
Company Has Now Added New Members to Senior Leadership Team From Outside Traditional Corrections Sector Aventiv Technologies continues to deliver on its promise to transform the company by bringing in individuals from outside of the traditional corrections space to broaden and diversify the perspective of its corporate leadership team. Over the past year, the company has hired seven new individuals to its executive team in addition to new president and CEO Dave Abel. The new leadership brings expertise in the consumer products, technology, financial services and education sectors and will add to the core of experienced executives already in place at Aventiv and its subsidiaries. Most recently, the company added Cindy Pechal as its Chief Human Resources Officer. Ms. Pechal has over 30 years of experience developing and executing on the strategic human capital blueprint for organizations ranging from startup tech companies to Fortune 50 financial & consulting services firms. She is recognized for transforming the People experience while aligning Human Resources priorities to yield high performing business outcomes. Ms. Pechal’s hiring is part of a multi-year executive restructuring designed to advance the transformation agenda envisioned by CEO Dave Abel. The transformation will improve affordability, increase accountability, and prioritize continued investment in technology. This includes the creation of two new positions that are focused on executing the company’s new commitments: VP of Strategy & Transformation Alex Dougherty is charged with refining Aventiv’s strategic outlook and executing on necessary transformational activities to see the enterprise achieve its goals, while VP of Corporate Affairs Joanna Acocella is charged with soliciting input from external experts and other key stakeholders and ensuring transparency and public accountability. Aventiv also announced the hiring of Melanie Sankaran as Chief Information Security Officer. Sankaran brings a background of leading-edge information security in the financial services industry to the role. She will be responsible for advancing the overall enterprise security vision and approach in line with the transformation agenda. “I was named in January to drive and accelerate a transformation of the organization. Bringing these leaders into the Aventiv family adds a more expansive array of perspectives that will build on the important work being done by our existing leadership team and drive that transformation forward,” said Dave Abel, President and CEO of Aventiv Technologies. “New talent helps bring new energy into any organization, and I look forward to working with our entire executive team to deliver more value for our customers and build an industry-leading culture of accountability.” Aventiv has already made significant strides toward its transformation commitments. The company has reduced call rates by an average of 30%, renegotiated outlier contracts to further lower rates, implemented quarterly consumer formers with formerly incarcerated individuals, and signed the Getting Back to Work Pledge. In response to the COVID-19 crisis, the company worked with almost 400 agencies to provide free credits for its services during the pandemic, nearly 20 million free phone calls, 4.7 million free video connections, and 8.9 million free JPay Stamps for digital messaging.
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How Valpak, Platinum Equity help small businesses remain relevant during COVID-19 crisis
The state of Ohio allowed restaurants to resume dine-in services on May 21. But when reached shortly after Gov. Mike DeWine’s executive order allowing eateries to resume limited operations after being forced to close in March in an effort to mitigate the spread of COVID-19, restaurant owner Frank Fusco had yet to resume seating diners. He took his time, making sure he could adhere to regulations created to provide a safe environment for customers eager to consume pizza and pasta at Frankie’s Italian Cuisine, which is located in a Cleveland suburb. He could afford to be patient. An ongoing takeout operation kept the doors open and has allowed the eatery to more than weather the months without higher margin alcohol services. The takeout business performed well before COVID-19 and the restaurant was positioned to boost that portion of the bottom line. Efforts were further enhanced by Valpak, a direct marketing company based in St. Petersburg, Fla., that reaches more than 37 million households with a monthly envelope stuffed with coupons and discounts. The company also provides postcards, social media and online advertising services. “It was just exposure,” Fusco said. “It helped me get my name out there to bring in more takeout and delivery business to help offset the cost of a closed dining room. “I got something like 50, 60, 70 percent of the business back and there’s some days where I did 100% of the business that I did when I had a dining room open. Some days have been off the charts fantastic and I got to assume that was a big part of it because all my other media advertising stayed the same or dropped off. “Valpak was the only thing we increased in marketing.” The programs introduced by Valpak to help its 40,000-plus local and regional clients were the result of nationwide brainstorming and collaboration from company executives and sales representatives. “Since Platinum purchased Valpak we have become a cohesive sales team,” Valpak sales director Lynn Yopko wrote in an e-mail. “It is no longer 150 different franchises doing their own thing. (Platinum has) given us the tools, processes, and systems we have needed for some time. …" Platinum’s role in providing support? Since the private equity firm purchased Valpak from Cox Target Media in 2017, significant operational changes have been made. “Since Platinum purchased Valpak we have become a cohesive sales team,” Valpak sales director Lynn Yopko wrote in an e-mail. “It is no longer 150 different franchises doing their own thing. (Platinum has) given us the tools, processes, and systems we have needed for some time. … “The programs put in place by Valpak Corporate offering our struggling clients and prospects additional areas, larger formats and on-pak visibility have proven to help them recoup lost revenue quickly.” 'Talk about brand awareness’ Many sectors of the economy have been crushed by social distancing measures enacted by state governments to fight COVID-19. The requirements have particularly damaged restaurants. The Independent Restaurant Coalition, a trade group, and the James Beard Foundation released a survey in April that 80% of independent restaurant owners in areas under shutdown orders weren’t sure they would be able to re-open when restrictions were lifted. Even when allowed to re-open, restaurants will adjust to doing business with COVID-19. There must be distance between tables, and the threat of an outbreak remains. Five Houston-area restaurants had to re-close recently because workers tested positive for the coronavirus, which causes COVID-19. Some spikes around the country have government leaders considering a second shutdown. Difficult terrain remains, but just to have a chance in the future, Frankie’s had to navigate the present. Enter Valpak. The company instituted a “Show Your Love, Shop Local” campaign to support local markets. Before COVID-19, space on the front of monthly envelopes was reserved for national retailers; early in the crisis, Valpak pivoted to putting local businesses in that prime spot which is traditionally not available. Valpak began highlighting how restaurants, forced to offer only carry-out or delivery services, need public support to survive the crisis. Some sales reps offered flexibility for small businesses with interrupted cash flow. In Fusco’s case, Yopko distributed Frankie’s Italian Cuisine’s 20% off coupons to a sixth zone. Typically, offers are distributed to five areas. Valpak gave Fusco an extra zone at no extra cost. Fusco was able to see the impact of the expanded reach when customers from the added zone brought the coupon in for takeout orders. Frankie’s also benefitted in May when its logo – along with the 20% off coupon - was placed on the front of the envelope in the Cleveland market. It was a direct benefit from the “Show Your Love, Shop Local” initiative. “That’s something (Frankie’s) never been able to do since he’s been mailing with me and he’s been extremely thankful and appreciative of what we’ve been able to bring to the table to help him with awareness of what’s happening in his location, give him a little bit more reach for more consumers and also give him some brand recognition in those (new) neighborhoods,” Yopko said. Yopko, a Valpak veteran of 22 years, has a unique perspective as a sales director and franchise owner. Since Platinum acquired the business, she’s seen Valpak launch new sales tools and increase its use of technology. That’s led to better communication. If something works in one market, there’s freedom to move to other areas. “We’re able to share that with our clients and give them some ease in saying let’s try it,” Yopko said. “Gets them a little more comfortable and not worry they’re inventing something. It already worked somewhere else.” She said long-time clients like Fusco become friends, which creates a desire to help when tough times strike. Fusco, who has resumed dine-in service at the restaurant, said he plans to become more aggressive with Valpak advertising in the future after seeing the effectiveness because other forms of messaging were not available in the early days of the crisis. Valpak is in position to help with 20% of the company’s clients coming from the dining and entertainment sectors. “Talk about brand awareness and getting our name out,” Fusco said. “We’ve been here 50 years … but it was a little more chatter for us.”
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United Site Services has opportunity to redefine what is ‘essential’
The COVID-19 crisis has forced all to rethink the definition of essential workers.No longer meaning only the areas of public safety, healthcare and transportation, the term has grown to include anything supporting those industries and many others during times of crisis.For United Site Services, the country’s largest provider of portable sanitation and temporary site services, it’s created an opportunity to tell a story.USS services were needed to support efforts in Seattle to shelter those unable to self-quarantine to mitigate the spread of the coronavirus.USS services were needed to support the construction of temporary hospitals in the New York City area.USS services kept major construction projects operating throughout the outbreak.Yes, services provided by USS service technicians are essential.“Unlike previous disasters or even slowdowns, this one has really brought to the forefront the essential nature of services that we provide for all of our different types of customers,” USS CEO Asterios Satrazemis said recently. “And so in an uncertain environment, we've had an opportunity to really help our customers understand the importance of hygiene and sanitation in their work sites. And the good news is customers are really jumping onboard.“We think that this is going to be an important part of how we keep our communities safe by increasing our efforts around hand hygiene and sanitation.”This is Satrazemis’ second stint with a Platinum Equity portfolio company, having served for two years as CEO of BlueLine Rental, before taking the helm at USS in January 2019. Platinum acquired USS in 2017.“Unlike previous disasters or even slowdowns, this one has really brought to the forefront the essential nature of services that we provide for all of our different types of customers,” USS CEO Asterios Satrazemis said recently.The crisis has also forced the business to examine operating procedures.For USS, it’s led to a laser focus on the best safety and hygiene practices for workers.For workers in corporate offices, Satrazemis revealed the company is examining the role of virtual work in the future, acknowledging a workplace trend that will likely grow as the country adjusts to living with COVID-19.Those are among the topics addressed by Satrazemis during a recent interview with Platinum Equity.(Answers have been edited for clarity).Platinum Equity: Has the education of businesses and municipalities created opportunities as the country moves cautiously to reengage the economy?Asterios Satrazemis: In the past, customers would only have their portable restrooms cleaned once a week. Now we're seeing many customers increasing that to two, three, four, sometimes even five times a week. Secondly, in the past, hand hygiene wasn't as high of a focus. They didn't put a critical eye on that piece of the overall sanitation picture. Now it is absolutely front and center.PE: How were you able to procure scarce hand sanitizer?Satrazemis: Who wasn't stockpiling hand sanitizer all over the world? Our provider had to stop providing hand sanitizer to anyone outside of the healthcare industry because there was such a run on it. We were able to work with them and help them understand we are an essential service. If we don't have it, we're potentially allowing people to not practice proper hand hygiene while they continued to work on construction sites or industrial or manufacturing plants throughout the outbreak. We need you to open that supply chain back up for us. And they did. That's why having good partnerships with your suppliers and not always looking to beat them up for the last penny is so important for your core supply base.PE: You had to educate your suppliers that you are an essential service?Satrazemis: Absolutely right. This is not over, but as we move through this, we're going to make sure that we utilize what we've learned and continue to educate our customer base, our supplier base, and our employees about the essential nature of the service. We're providing sanitation, we're providing hygiene. Once you make that pivot, you have a bit of an ‘a-ha’ moment.PE: What measures have you taken to ensure the health and safety of service techs?Satrazemis: We put in place our own hygiene protocols. We quickly added a number of different steps to the normal job to ensure that we were giving our team the maximum level of protection. Things like face shields, adding steps around the products that we were using that would kill the virus on contact, requiring people to use disposable gloves after every cleaning, requiring them to wipe down all surfaces that they were touching after every cleaning. Everybody's got face coverings in addition to the face shields. Additionally, we took 1,100 of our teammates (who aren’t directly performing the services) and we had them all start working from home, working virtually.PE: Has it helped you look at things differently for when this crisis passes?Satrazemis: We are looking very critically at what the future of work at USS will look like (USS announced recently work-from-home measures will remain in effect until at least the end of the year). All the enhanced safety protocols that we've put in place for our technicians, we don't expect to remove those anytime soon.PE: Let’s move to the loss of events that were either postponed or lost like Burning Man, the NFL Draft and PGA Tour events. Is there a sense of loss there?Satrazemis: Events are a subset of our overall revenue, but it's a very visible portion. A job like Burning Man, I don't think there's another company in the U.S. that could help Burning Man come to life. I'm fairly certain there's no other business that has the quantity and quality of people to build that temporary city. They would have to go to multiple vendors to get what they get from us. So yes, our team is disappointed in losing the ability to provide for those tens of thousands of people.PE: What percentage of your business is from government vs. private industry? Have you seen government contracts increase significantly?Satrazemis: We have definitely seen an increase, though government is still going to represent a single digit level percentage of our overall revenue.PE: USS is huge in the U.S., but what about your global footprint?Satrazemis: That's actually one of the exciting things about the future opportunity for USS. It’s been in business for 20 years and it was built up over those 20 years through many acquisitions. We're still only in 25 states in the U.S. We're not in Canada and we're not overseas. So you can see why Platinum acquired this amazing investment back in 2017. This is a business that has an incredible amount of runaway and we've continued that acquisition activity to grow the business and there's no reason why this isn't going to be at some point the business that's all throughout North America and beyond. We're still early in this journey.
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Jostens answers Platinum Equity’s call to action with free virtual commencement centers
The dream of a run to the baseball state playoffs ended in districts. An anticipated final concert with the school band was cancelled. As co-class president, experiencing detailed planning for a senior prom that will never occur. Thomas Arend, who remains upbeat despite the setbacks, is succinct when discussing how routine rites of passage have been snatched away over the last few weeks. “It kind of sucks,” he said. The North Thurston (Wash.) High School student is just one of many to see the final months of senior year interrupted by school closings. Gov. Jay Inslee announced in early April that schools in the state of Washington would remain closed through the end of the academic year. Online learning continues and seniors will graduate, but the familiar scene of “Pomp and Circumstance” playing while students walk across stages may not occur in the coming weeks. Platinum Equity portfolio company Jostens, a trusted memorabilia manufacturer for high school and collegiate markets, is bringing graduation ceremonies to seniors, families and school officials stuck at home. The company will provide digital tools and content to offer free online virtual commencement centers to assist high schools and colleges celebrate graduates who have seen the expectations of a traditional ceremony dashed by social distancing measures instituted to mitigate the spread of the coronavirus, which causes COVID-19. “What I see is Jostens providing hope,” said Scott Seaman, the executive director for the Association of Washington School Principals. “They’re really providing hope for kids, providing hope for the faculty of schools and they’re providing hope for families. The goal is to provide some normalcy during these unprecedented times. While lingering dreams of a typical graduation ceremony may be dashed for some, Jostens is helping to make up for the sense of loss for all. “What I see is Jostens providing hope,” said Scott Seaman, the executive director for the Association of Washington School Principals. “They’re really providing hope for kids, providing hope for the faculty of schools and they’re providing hope for families. “There will be something. The show will go on. We’re going to have a graduation ceremony one way or another, and Jostens is providing that hope in the system.” Call to action On the weekend before St. Patrick’s Day, Jostens representatives were gathered for an off-site meeting in South Carolina. Platinum Equity had earlier issued a call to action across its entire portfolio focused on mitigating the economic impact of the emerging crisis and encouraging its management teams to think creatively about repurposing or redeploying their resources. Governments were moving to address the growing crisis and governors started issuing stay-at-home orders. The first reaction among those at the meeting: The potential business fallout. The next reaction? Anger that students could potentially lose out on routine milestones. “This is a rite of passage that these kids earned,” said John Bibeault, Jostens vice president and general manager/scholastic division. Adding to the sense of urgency was the realization the Class of 2020 was born right after 9/11 and has lived through two defining moments in the financial collapse of 2007-8 and the current crisis. Creative juices started flowing. Contingency planning commenced with an able assist from a company official, who is a military veteran. In discussions with education officials, there were two main concerns expressed: how to feed children depending on school meals and the infrastructure of distance learning. Shortly after those initial discussions, Jostens moved to address the second concern by making its video series targeting the mental health of high school students available for free. The virtual commencement idea came next. Jostens has developed password protected resource centers for students under the direction of principals, collegiate commencement directors and other school officials. A Jostens representative gives access to a protected area on the company website. Clients receive step-by-step instructions on how to pull off a virtual ceremony. If a high school doesn’t have easily accessible livestreaming capability, Jostens sets it up. Jostens is hoping to partner with celebrities to deliver commencement speeches. “We’re doing the right thing first … administrators, teachers and students are picking that up,” Bibeault said. Recognizing the Class of 2020 Founded in 1897 and based in Minneapolis, Platinum Equity acquired Jostens in December 2018. The company specializes in custom class jewelry, graduation products, and yearbooks. Bibeault has 18 years with Jostens and says the company has become more customer-centric since he joined 18 years ago. “As times have changed, affiliations to school are not necessarily what they once were,” he said. “Traditions change, but when you’re in the jewelry business and the apparel business, when you’re in the printing business, you’re also in the fashion industry.” The response to COVID-19 is a natural outgrowth. The company is also beginning to produce and distribute non-surgical face masks and disposable gowns to help healthcare concerns. The manufacturing will occur at plants in South Carolina and the Dominican Republic. “It’s reinvigorated me and it’s reinvigorated our salesforce. I think that’s going to make the difference in getting through this tough time.” Bibeault has participated in delivery events for Jostens. “Seeing moms cry, seeing dads cry, kids cry,” he said. “They’re completely happy that they’re getting that cap and gown. They’re going to have something to take a picture in, to celebrate in.” It addressed a need at all economic levels. “We’ve seen million-dollar homes,” he said. “We’ve gone door-to-door in trailer parks. “It’s reinvigorated me and it’s reinvigorated our salesforce. I think that’s going to make the difference in getting through this tough time.” Arend is looking forward to life after this tough time. The Lacey, Wash., student is planning to enroll in Washington State in the fall, following in the footsteps of his parents. Maybe in a few years, he will go through a traditional college graduation. But for now, Jostens' virtual commencement is something he is eager to experience. “It will provide a recognition for all of us and as well as a time for everybody to have a landmark to say, ‘OK, this is when we’re actually done. I remember this day,’” he said. “I can see people sending texts saying congrats, you have the parents and stuff being live streamed, the kids’ reactions. I think it will be a cool way to recognize our Class of 2020.”
Read MorePlatinum Equity Responds to COVID-19
In response to the global pandemic caused by COVID-19, Platinum Equity’s top priorities are: Protect the well-being of our employees and their families Ensure the continuity of our business Mitigate the impact of the crisis on the firm’s portfolio companies Pursue new opportunities in the market “We are intensely focused on the health of our people, our firm and our portfolio companies during this global pandemic,” said Platinum Equity Chairman and CEO Tom Gores. “We are taking the steps needed to keep our team safe while ensuring the continuity of our business.” The firm implemented companywide travel restrictions and work-from-home policies weeks ago to protect employees and help “flatten the curve,” and has taken necessary precautions to ensure the safety and wellbeing of its teams around the world. Platinum Equity’s large in-house operations team is aggressively managing the firm’s portfolio companies to preserve liquidity, reduce costs and prepare for an extended downturn. They have implemented custom playbooks at every operating company and are working with management teams to take decisive action on a daily basis. Many Platinum Equity portfolio companies have been deemed essential businesses and are working hard to support those on the front lines fighting the virus in different capacities. Other businesses have repurposed or redeployed their resources to assist in relief efforts. “The community needs everyone to come together now more than ever,” said Mr. Gores. “I’m proud to see our partners joining forces to make a difference. There is so much more that needs to be done.” “We also continue pursuing new investment opportunities,” Mr. Gores added. “We have access to capital and a lot of experience investing in dislocated markets. We are adjusting our models and adapting every day, but our M&A teams are still hard at work.” Platinum Equity Capital Partners V completed capital raising in December 2019 with $10 billion in capital commitments, and Platinum Equity Small Cap Partners completed capital raising in June 2018 with $1.5 billion in capital commitments. The firm recently completed the acquisition of Farnese Vini, a wine producer headquartered in Pescara, Italy. More stories about how Platinum Equity and its portfolio companies are responding to the crisis: Tom Gores Purchases 100,000 PPE Masks for City of Detroit » Jostens answers Platinum Equity’s call to action with free virtual commencements centers » Why Platinum Equity acquired Italian winemaker in spite of COVID-19 challenges »
Read MoreWhy Platinum Equity acquired Italian winemaker in spite of COVID-19 challenges
The April 6 issue of Axios’ daily dealmakers newsletter called Platinum Equity’s acquisition of Farnese Vini the day’s most notable transaction. What set Farnese apart? Business editor Dan Primack wrote: “Because the deal actually closed, despite everything that's happened in the U.S. and Italy since it was agreed to in December.” Bankers from New York to Milan had questions. How did the firm close the deal with much of the world shut down? Why do it given everything that changed between sign and close? Louis Samson, a partner at Platinum Equity and member of the firm’s Investment Committee, shed some light. “We’d been preparing to face a recession for the past few years and our approach to portfolio construction had already become more defensive, with an increased emphasis on risk mitigation, diversification, and assets that are less correlated to market cycles,” Mr. Samson said. “Farnese checked all those boxes, which gave us great comfort proceeding in spite of everything going on.” “We’d been preparing to face a recession for the past few years and our approach to portfolio construction had already become more defensive, with an increased emphasis on risk mitigation, diversification, and assets that are less correlated to market cycles,” Mr. Samson said. “Farnese checked all those boxes, which gave us great comfort proceeding in spite of everything going on.” The wine industry is historically resistant to economic downturns and Farnese’s business model provides strong downside protection, a cornerstone of Platinum Equity’s investment strategy. The deal team had also developed a solid relationship with Farnese co-founder Valentino Sciotti, who retains a minority stake, and felt comfortable he could steer the company through a protracted downturn. But the main reason was even simpler: Platinum had to keep its word. “It was the right thing to do,” said Filippo Rossi, a Platinum Equity vice president based in London who works on the firm’s Small Cap team that executed the transaction. “There could have been ways of delaying it, which would have been the easy way out, but we decided to stick to the agreement. “We also managed to close on the agreed upon date, which no one was expecting.” The genesis of a deal Headquartered in Pescara, Italy, Farnese markets and distributes wines from southern and central Italy. The company acquires grapes from local farmers, oversees production and markets wines under specialty labels to customers internationally. Founded in 1994, Farnese produces more than 24 million bottles and reported revenue of $81 million U.S. dollars in 2019. Farnese wines are well-received, having won many awards. The distributor’s portfolio includes 21 winemakers. Farnese buys raw material (mostly bulk wine, some grapes) at low cost in central/southern Italy where there is structural excess grape production, converts to attractive bottled wines and sells abroad via an effective marketing and distribution machine. This optimizes the perceived quality/price ratio for customers. The company’s business model attracted multiple bidders. “The secret sauce of this company is that (co-founder Sciotti) found a very good business model and he’s been very good at creating very strong relationships with the grape growers in different regions of Italy – a lot of them in the south,” said Fernando Goni, a Platinum Equity principal on the Small Cap team in London. “So he gives the suppliers a lot of security and that allows him to develop quality wine for a good price.” Platinum was invited to bid on the company in October, which was later in the process when compared to other prospective buyers. The good relationship with Sciotti helped. The potential to open the U.S. market to the product was another factor. But what really helped Platinum stand out was the deal team’s small cap focus and understanding of the lower middle market, backed by the resources of a much larger global firm. The deal then moved quickly and an announcement of a definitive agreement came Jan. 10. COVID-19 challenges Italy confirmed its first COVID-19 case on Jan. 31. By the beginning of March, the highly infectious disease had spread to all regions of the country. This was the backdrop as the Small Cap team moved to close the deal. Confidence remained high in the company’s performance. Farnese performed well the first two months of 2020 with business up 16%. “There will be a recovery and people are going to turn to private equity houses they can trust,” Goni said. “This will help us over the next 12-to-18 months as we see new opportunities. We proved we can deliver – even in very difficult circumstances.” “Farnese has an innovative business model that has proven resilient during challenging times and delivered impressive growth over the past two decades,” Mr. Samson said in a release at the time. But pandemic created obstacles. Without face-to-face meetings, phone calls and video conferencing were the modes of communication. The process demanded strong collaboration between Platinum teams in Beverly Hills, New York, Greenwich and London. “I think those with smaller resources would have struggled to find the right solutions to do a deal in the timeframe that we did it,” Mr. Goni said. That created a sense of accomplishment when the deal was completed in Milan on March 31, and confidence the experience would pay off down the road as well. “There will be a recovery and people are going to turn to private equity houses they can trust,” Goni said. “This will help us over the next 12-to-18 months as we see new opportunities. We proved we can deliver – even in very difficult circumstances.” Download the PDF »
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Aventiv Technologies Reports Initial Progress On Reform Commitments
Accomplishments reflect a positive shift in accessibility and ongoing engagement with key stakeholders Aventiv Technologies and its corrections-services subsidiary, Securus Technologies, today reported progress on key milestones of the transformation commitments announced in mid-January. Under the direction of President and CEO Dave Abel, the organization is undertaking an expansive and holistic transformation to make its products more accountable, affordable and accessible. The pace of the early progress in the multi-year effort highlights the company’s ability to quickly adapt to the new vision and operating practices. “While we recognize that this work is just the first step in a long-term process, we are very proud of what we have already achieved,” said Dave Abel, President and CEO of Aventiv Technologies. “I am dedicated to driving meaningful change in the organization, in the sector and in the communities we serve. We are continuing much-needed face-to-face conversations with all stakeholders – we need to work together on this.” In the first sixty days since Aventiv made these commitments, the company took multiple steps towards full achievement of its goals, including: Developed and deployed new technology to reduce reliance on third-party payment services, eliminating their fees and bringing savings to impacted consumers by an average of 30% in the total cost of each call. Negotiated new contract with a major county customer lowering the cost of phone calls by more than 60% for over 6,000 incarcerated individuals and their loved ones. Integrated commission-free and agency-paid options for telephone calls with both existing institutional customers and potential new institutional customers. Convened first quarterly consumer forum with formerly incarcerated individuals and their families in Detroit to hear firsthand about their experiences and how to better serve them which will be used to inform future development efforts. Met with leaders and participants of job-training and -placement organizations currently operating inside and outside of correctional facilities to learn about employment best practices and help guide development of re-entry support. Signed the Getting Talent Back to Work pledge from the Society for Human Resource Management and committed to give hiring opportunities to deserving individuals with a criminal record. Sponsored the Second Annual Correctional Education Reentry Summit hosted by Ashland University and supported the participation of formerly incarcerated students of the University. “Aventiv’s efforts to expand and invest in correctional education services will lead to more successful re-entry outcomes and reduced rates of recidivism, ultimately saving taxpayers money in the long-term,” said Todd Marshall, Vice President for Correctional Education and Innovation at Ashland University. “We have proudly worked with the organization for years and look forward to their participation in this year’s Re-Entry Summit, leading the charge to building connections to improve the reintegration and reengagement of formerly incarcerated individuals back into their communities.” Additional initiatives and progress on milestones will be publicly detailed quarterly. About Securus Technologies Headquartered in Dallas, Texas, and serving more than 3,450 public safety, law enforcement and corrections agencies and over 1,200,000 inmates across North America, Securus Technologies is committed to serve and connect by providing emergency response, incident management, public information, investigation, biometric analysis, communication, information management, inmate self-service, and monitoring products and services in order to make our world a safer place to live. Securus Technologies connecting what matters®. For more information, please visit SecurusTechnologies.tech. Download PDF
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Dave Abel Named Chief Executive Officer Of Aventiv Technologies And Its Corrections Subsidiary Securus Technologies
Mr. Abel Announces Accelerated Transformation Program Focused On Affordability, Accountability, Innovation and Reform DALLAS, Jan. 13, 2020 -- Technology and government services executive Dave Abel has been named President and Chief Executive Officer of Aventiv Technologies and its corrections services subsidiary Securus Technologies, effective immediately. "Dave is an innovative leader who we recruited in April to develop and accelerate an ambitious business transformation program for Securus," said Bryan Kelln, president of portfolio operations at Platinum Equity, which owns the companies. "We are pleased to take the next step with his appointment as CEO, and excited about his plans for making Aventiv and Securus more accountable, more affordable, more accessible and more attentive to the needs of both customers and consumers," Mr. Kelln said. As his first order of business, Mr. Abel announced an ambitious multi-year transformation effort that he said will "acknowledge past criticism, pursue present opportunities and lead future innovation." "The role of technology in government and corrections is evolving, and Aventiv and Securus are at the forefront of that evolution," Mr. Abel said. "The industry is changing, and we intend to embrace it. We will be the change." Mr. Abel acknowledged that both the company and the industry have faced criticism in the past over pricing, data security, product innovation and other issues. He said that under his leadership the companies would seek the proper balance between the needs of customers, the corrections agencies that contract for the companies' products and services; consumers, the incarcerated individuals and their families who use those products and services; and public policy officials who oversee corrections facilities, their operations and their vendors. "We have the opportunity – and the responsibility – to address the financial and social needs of the communities we serve, making our services more affordable and accessible while continuing to innovate and help our government partners keep those communities safe and secure," he said. Securus has undergone substantial change since being acquired by Platinum Equity, with a major emphasis on eliminating certain past practices, enhancing and expanding others, and transforming from a traditional corrections telecommunications service provider into a broad technology innovator. "We have the opportunity – and the responsibility – to address the financial and social needs of the communities we serve, making our services more affordable and accessible while continuing to innovate and help our government partners keep those communities safe and secure," said Dave Abel. Aventiv Technologies launched in October 2019 as part of a corporate reorganization reflective of the company's progression with distinct business lines for government payments (AllPaid) and corrections services (Securus Technologies and JPay). "Technology at its best is an engine of change," said Mr. Kelln of Platinum. "As the owners of Aventiv, we are keenly aware of the calls for change and steadfast in our determination to forge a new way forward. "To that end, we have asked Dave to take the reins of the entire organization as we jointly execute on an overhaul of the agenda," he said. "Under his leadership, Aventiv will clearly demonstrate new values, supporting community needs and creating benefit for all stakeholders." COMMITMENTS Building on previous reforms that have already been implemented, Mr. Abel committed to accelerating in 2020 an expansive, holistic reform of corporate policies and practices. The full scope of the program will be announced in the weeks ahead, but Mr. Abel today previewed some of the initiatives that will be included: 1. Accessibility and Affordability While Securus has reduced the average cost of calls by 30% over the past 3 years, not all consumers felt the same relief. The company pledges to work with all our institutional customers to broaden rate relief for more consumers by targeting the elimination of legacy outlier rates and reinvesting in the development innovations and tools to further reduce costs. In 2019 Securus became the only service provider to announce full neutrality on the presence of site commissions and the provision of products regardless of the funding source and model determined by each locality. The organization will build on that in 2020 by working with all interested institutional customers on implementing these lower-cost-to-consumer alternatives. Securus will reduce the application of third-party funding fees by investing in technology solutions where possible -- and negotiating lower rates where outside vendors are still required -- to provide savings to consumers of at least 35% on these fees by year end. 2. Transparency Securus will provide a clear and simple recitation of call rates to both customers and consumers, ensuring that those call rates are always available online and at the time of each call before they are accepted. The Company will commission an annual report of inmate calling costs, produced and published by an independent third party, including a breakdown of what is being charged beyond the specific cost of the call (for example, additional costs necessary for the provision of safety protocols and service). Securus will publish by the middle of this year an industry-leading report detailing a terms-of-use policy for its products, and memorializing comprehensive data privacy standards. 3. Education, Reentry and Recidivism Securus will immediately sign the Society for Human Resource Management Getting Talent Back to Work Pledge. The Company will contribute at least $3 million in 2020 to efforts focused on reducing recidivism rates and improving reentry rates, including support for The Securus Foundation to connect justice agencies more closely to their communities utilizing technology. The Company will create a post-incarceration scholarship program to facilitate the completion of post-secondary degrees begun under Securus' existing educational product and service opportunities. 4. Listening and Responsiveness Mr. Abel and other company executives will meet each quarter with families and individuals personally impacted by incarceration to hear their recommendations and address their concerns about the company's products and services. Company leaders will also meet with corrections facility customers, correctional trade associations and advocates of alternative incarceration approaches to hear their recommendations and hear their concerns. 5. Technology and Innovation Securus pledges to invest at least $40 million this year in facility communication infrastructure for the advancement of public safety and community needs. The Company will devote at least $30 million to fund innovations in the development of secure products to take on the ever-evolving challenges facing correctional agencies in the new decade. BIOGRAPHICAL INFORMATION Mr. Abel joined Securus as President in April of 2019, recruited from outside the industry to bring new ideas and urgency with respect to accelerating and expanding the reform agenda and technology transformation mandated by Platinum Equity. Most of his career has been dedicated to helping governments use technology to improve mission effectiveness and lower costs to taxpayers and consumers. Prior to joining Aventiv, he founded and ran a business focused on performance improvement and software automation. As an executive at IBM and a partner at PwC, Mr. Abel was responsible for turning around and growing service and software businesses worldwide. While applying technology to some of society's greatest challenges, he is known for balancing the often competing needs of security, privacy and consumer value. About Aventiv Technologies Headquartered in the Dallas-Fort Worth Metroplex, Aventiv Technologies is the parent company for Securus Technologies, JPay and AllPaid. With nearly 2,000 associates, Aventiv serves the public sector by applying technology solutions to make complex connections more secure and simpler than ever before. For more information, please visit www.Aventiv.com
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Tom and Holly Gores Partner with Children’s Hospital Los Angeles to Create New State of the Art Allergy Center
The Gores Family Allergy Center will Treat Children with Life-Threatening Food Allergies and Other Allergic Disorders Los Angeles, California (Jan. 7, 2015) – Los Angeles financier and philanthropist Tom Gores and his wife Holly have made a $5 million commitment to establish a new pediatric allergy treatment center at Children’s Hospital Los Angeles (CHLA). In honor of the family’s generous gift, the center will be named the Gores Family Allergy Center and plan to expand clinical treatment for children with severe and life-threatening allergies, in particular allergies to food. The center will be the first of its kind in Los Angeles, filling an important need in a city with thousands of children suffering from these medical conditions. An estimated 1 in 13 children in the United States is affected by an allergy to foods like milk, eggs, peanuts, fish and shellfish—a figure that is steadily growing. Despite this fact, very few academic centers specialize in the treatment of severe food allergies. “Children’s Hospital Los Angeles is grateful for this partnership and the Gores family’s commitment to the special care required for treatment of childhood allergies,” says Paul S. Viviano, president and chief executive officer of Children’s Hospital Los Angeles. “In the United States alone, nearly six million children under the age of 18 suffer from a food allergy. For some of these children, a chance brush with trace amounts of the wrong food can place them in a battle for their lives.” “For families with children who suffer from severe food allergies, simply going out to eat can be a scary and dangerous experience,” says Mrs. Gores. “We know firsthand what it’s like to live with that fear and we want to make more resources available here in Southern California to improve the lives of children diagnosed with food allergies.” Mr. Gores says he’s excited about the impact the new center will have and that partnering with CHLA was a natural fit. “With access to the right tools and information, kids with severe food allergies can live with greater confidence, freedom and peace of mind,” he adds. “We have been working with CHLA for several years and have great faith in their mission and expertise.” The Gores family first connected with CHLA in 2013 when their daughters, Catherina and Amanda, inspired by their brother’s severe food allergies, founded a charitable fundraising arm called EpiPals in partnership with CHLA. The EpiPals mission is to support families of children with severe food allergies through education, awareness, and the distribution of EpiPens to underserved Los Angeles communities. An EpiPen is an injectable form of epinephrine that can quickly reverse an allergic reaction. Through EpiPals, the Gores sisters have raised nearly $1 million for CHLA in support of allergy patients and the work of the Division of Clinical Immunology. Joseph Church, MD, will head the Gores Family Allergy Center which will be based in the Division of Clinical Immunology and Allergy at CHLA. “CHLA has developed a reputation for helping children with life-threatening health conditions,” says Church. “Now, thanks to the generosity of the Gores family, we have the opportunity to provide a much-needed resource to new and existing patients in Southern California – offering comprehensive treatment that is integrated with patient-centered research.” The center’s immediate focus will be expanding CHLA’s treatment capabilities by hiring new staff and broadening the services available to patients with allergies and their families. A new physician allergist is joining the center this month. A dietician will be made available to provide nutritional evaluations, patient guidance and education on food-avoidance measures and a licensed psychologist will help support the emotional needs of patients and families. A registered nurse will be hired to coordinate clinical studies on innovative treatment for food allergies. Additionally, the center will engage in community outreach to local Los Angeles schools to ensure staff and students are educated about allergies. Mr. Gores is Founder, Chairman and CEO of Platinum Equity, LLC, a global private equity firm based in Beverly Hills and is owner of the Detroit Pistons. He serves on the board of trustees for the Los Angeles County Museum of Art. Mrs. Gores serves as a Trustee of The Center for Early Education in West Hollywood. About Children’s Hospital Los Angeles Children’s Hospital Los Angeles is a nonprofit pediatric health care organization dedicated to creating hope and building healthier futures for children. Honored as the premier children’s hospital in California and among the top 10 in the nation, we treat 107,000 young patients annually from Los Angeles and around the world. As a pediatric charity of choice, the hospital relies on the generosity of the community to support its groundbreaking pediatric research and the complex care it provides for critically ill and injured children. For more information, visit CHLA.org. Follow us on Twitter, Facebook, YouTube and LinkedIn, or visit the
Read MorePlatinum Equity CFO Mary Ann Sigler Tells 2015 USC Accounting Graduates: “Be Creative, Be Relevant, Be Ethical”
Los Angeles – (May 15, 2015) – Platinum Equity CFO and CCO Mary Ann Sigler today delivered the commencement address at the University of Southern California’s Leventhal School of Accounting graduation ceremony. Ms. Sigler, who earned a Master’s degree in Business Taxation from USC in 1980, talked about what she has learned over her 35-year career in public accounting and private equity and offered some advice to the 2015 graduating class. She implored the approximately 400 students to be creative, be relevant, and above all else, be ethical. Excerpts from Ms. Sigler’s address… On being creative: There is a stereotype of accountants as mild-mannered numbers crunchers…We have a reputation for being practical but not creative…In the background rather than the forefront …I am here to tell you, those images are just not accurate. Sometimes the CFO is not the most popular person in the room – many times we are the one with our feet on the brakes…The secret is to [do so in a way] that does not stifle creativity, but rather channels it…to help find solutions that work within the confines of the right way to do things. On being relevant: Learn to discern what is relevant, what is important to your clients, your firm, and your career. In the long run it is not a race to see how much money you can make how quickly, but rather a quest to see how much you can learn and give back. Focus on the experiences as a measure of success. Find your passion and follow your dreams – do what you are excited about, and the monetary side will then fall into place. But always be relevant. Do not be the first person out the door at the end of the day. Instead, be the first person to raise your hand when a project needs to be done. Put in the time, even if it does not sound like the most exciting project. Make yourself relevant. On being ethical: Be Ethical. It is the most important rule of all. I cannot emphasize enough today the importance of high integrity in this profession. There is nothing more important, both personally and professionally, than being able to lay your head on your pillow at night and know that you have done the right thing. And there is no softer pillow than a clear conscience. Ethical behavior is rooted in fact. It is not based on opinion or judgment. And it is binary. You are either ethical or you are not. There is no gradation and no flexibility. Doing the right thing is not always the popular thing. The appeal of easy answers is alluring, and most often there are no easy answers. The “right” answer may not always be what everyone wants to hear, but in the long run, it is what they need to hear and you will serve yourself, your family, your profession, and your employer well if you always remember that being unpopular about the right decision is better than being popular with the wrong decision. The moral and ethical makeup of an accountant is the fabric of the profession. No other profession is more focused on these values and standards. So I implore each of you: Make good decisions. Be creative, yes… Be relevant, for sure… But always, always be ethical.
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