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ABRY Leads Recapitalization of Triple Point Technology Inc.
BOSTON (August 17, 2006) - ABRY Partners recently led the
recapitalization of Triple Point Technology Inc. (“Triple Point”, or
the “Company”). ABRY invested $38 million in Convertible Preferred
Stock in Triple Point for a majority ownership position in the Company.
Existing management, led by Peter Armstrong and Paul D’Amico, own the
remainder of the shares. Triple Point is the leader in trading and risk
management information solutions for commodities including power, oil,
gas, coal, metals, agricultural products, and freight. Triple Point's
award winning information management solutions are used by more than 25
percent of both Global 500 commodity trading companies and Global 500
energy companies.
Triple Point is a rapidly growing company
serving an expanding and increasingly volatile energy trading
marketplace. Barriers to competition for the Company’s customers are
strong as evidenced by minimal historic customer attrition. Working
with ABRY, Triple Point intends to pursue substantial organic growth
opportunities as well as growth through complementary acquisitions.
ABRY
Partners, based in Boston, is one of the oldest and largest private
equity funds in North America investing exclusively in the media,
communications and information industries. ABRY has over $7.0 billion
of assets under management and since 1989 has completed over $18.0
billion of leveraged transactions in the media, communications and
information industries.