Prison Phone Company Aventiv Clears Hurdle for Lenders’ Takeover
Bloomberg 2026-07-02 17:34:18
Context: Aventiv Technologies, a prison phone company, has reached an out-of-court agreement allowing lenders to take control of the company from private equity firm Platinum Equity. This development marks a significant step forward in a lengthy process that required clearing regulatory hurdles. The agreement paves the way for a change in ownership.
Key Facts
- Aventiv Technologies has secured an out-of-court deal for lenders to take control of the company, ending its association with private equity firm Platinum Equity.
- The agreement was reached after a lengthy process aimed at obtaining regulatory approval, according to people familiar with the matter.
- The takeover by lenders caps a prolonged period of regulatory scrutiny for Aventiv Technologies, a company that provides phone services to prisons.