August 5, 2011 > Private equity firm invests in unique legal services provider
Private equity firm invests in unique legal services provider
MidOcean Partners acquires Pre-Paid Legal Services, Inc
Submitted By Chris Tofalli
MidOcean Partners ("MidOcean"), a leading private equity firm, completed its acquisition of Pre-Paid Legal Services, Inc. ("Pre-Paid Legal") for $66.50 per share in a cash transaction valued at approximately $650M on June 30, 2011. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer, media and communications, business and financial services and industrial services.
The transaction was approved by Pre-Paid Legal's stockholders at a special meeting on June 21, 2011. Pre-Paid Legal common stock will be delisted from the New York Stock Exchange.
Pre-Paid Legal provides families, employees and small businesses with affordable access to professional legal services and identity theft protection and restoration services. The company has more than 1.4 million customers in all 50 states, Washington DC and four provinces in Canada, through its partnerships with 40 law firms across North America and with Kroll Background America, Inc.
For more information about Pre-Paid Legal, visit www.PrePaidLegal.com. For more about MidOcean Partners, visit www.MidOceanPartners.com.