Press Release
White Plains, NY- February 9, 2007 - EquiSearch Services Inc. formerly a wholly owned subsidiary of ChoicePoint® (NYSE: CPS) was acquired by Palladian Capital Partners, a private equity firm on January 31, 2007.
"EquiSearch is a leader in its field with a strong, experienced management team, a well established business model and solid platform for growth," commented Jon Gordon, Partner of Palladian Capital Partners. "EquiSearch has a blue chip client base built on its unparalleled track record providing service locating lost account holders and reuniting them with their lost assets."
EquiSearch is a leading provider of lost account holder search and recovery services in the unclaimed property industry. Through its services, financial organizations can locate missing account holders, reduce costs associated with lost account holders, comply with SEC and state due diligence requirements, reduce assets escheated to the states and reunite account holders with their assets while improving database accuracy and client relationship quality. Since 2003, EquiSearch has prevented over 500,000 financial accounts worth approximately $4.0 billion from escheating to states by locating lost and dormant assets and account holders and reuniting them with their unclaimed assets. EquiSearch is managed by David Coonin, who will remain with the company as President and General Manager. "We are excited to be associated with the Palladian team where we will have the flexibility and resources to build new products, enhance current service offerings, reinforce client relationships, expand market share and fulfill our potential," said Coonin.
About Palladian Capital Partners
Palladian Capital Partners LLC works with existing management teams to build profitable, sustainable businesses and to realize significant returns on capital for investors, management, and other partners. Palladian is led by experienced operating, investment banking and private equity professionals, and its lead partners collectively have more than 50 years of experience, executing over $20 billion of advisory and principal transactions with 100 companies across a cross section of industries.
