TSL Express Daily News

Aventiv Will Receive Significant Cash Infusion Via Debt-for-Equity Exchange

PLANO, Texas, April 16, 2025 /PRNewswire/ -- Aventiv Technologies, a communications and technology business serving state and local correctional facilities, the incarcerated, and their friends and families, today announced an agreement with financial stakeholders to recapitalize the business and position it for future growth via a debt-for-equity exchange.

Parties to the agreement are Aventiv (the "Company"); financial sponsor Platinum Equity ("Platinum") and 100% of the Company's lender group ("the Supporting Lenders"). Key terms include eliminating the majority of outstanding debt from the Company's balance sheet in exchange for equity shares in the business.

The agreement will enhance the Company's capital structure and position the business for future growth, while ensuring Aventiv continues to provide the vital digital infrastructure that supports facility operations, connects incarcerated individuals with their friends and family, and delivers resources to prepare for successful reentry. In addition, it will help facilitate Platinum's long-anticipated divestiture of the business to an ownership group led by the Supporting Lenders upon close of the transaction.

"We are pleased to reach this agreement with our key financial stakeholders," said Dave Abel, the Company's Chief Executive Officer. "Aventiv is leading the way in innovative technology that is transforming connectivity for corrections facilities, law enforcement agencies, incarcerated individuals and their friends and family. We are confident this next step will help Aventiv continue leading the industry and delivering value for our stakeholders. We look forward to redoubling our efforts as an industry leader providing vital services in support of rehabilitative justice."

The debt-for-equity exchange is subject to regulatory notice periods and/or approval from federal and state regulators that oversee and / or license the Company's products and services. While the Company and the Supporting Lenders have committed to working together to quickly obtain such approvals and submit such notices, it is expected to take several months for the process to complete. In the meantime, the Supporting Lenders will provide $360 million in financing to the Company to support the Company's operations throughout the regulatory review and approval process, and to immediately retire the Company's existing revolving credit facility.

Aventiv and its family of brands—Securus Technologies, Securus Monitoring, and JPay—will continue to operate as usual throughout the approval process and once the transaction is completed.

Aventiv is supported by Milbank LLP as legal advisor, FTI Consulting as financial advisor, and PJT Partners LP as investment banking advisor. The Supporting Lenders are represented by Gibson, Dunn & Crutcher LLP as legal advisor and Evercore Group LLC as investment banking advisor.

About Aventiv Technologies
Aventiv Technologies, headquartered in Plano, Texas, is a leading provider of innovative, secure technology solutions that transform connectivity for correctional facilities, law enforcement agencies, incarcerated individuals, and their loved ones. Through its trusted brands—Securus Technologies®, Securus Monitoring®, and JPay®— Aventiv delivers over 80 cost-effective, safety-enhancing products that drive operational efficiency and create meaningful connections that strengthen community outcomes. Serving over 1,800 agencies nationwide, Aventiv is part of the Platinum Equity portfolio. Learn more www.Aventiv.com and connect with us on LinkedIn, Facebook, and X.