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Business Tools | Friday February 23 Investment Group Led by Aurora Capital to Acquire Mitchell InternationalMitchell International, Inc., a provider of information, workflow, and performance management solutions to the automotive insurance claims and collision repair industries, has signed a definitive agreement to sell the company to an investment group led by Aurora Capital Group and including General Electric Pension Trust.“Mitchell has enjoyed an excellent partnership over the past seven years with its current shareholder group, led by Hellman & Friedman LLC,” said James D. Lindner, Chairman of the Board and Chief Executive Officer. “Over this period we have enjoyed industry-leading revenue and profit growth, but more importantly, have been successful in delivering market-leading solutions developed through the tireless efforts of our many dedicated employees. In addition, we have reinforced our outstanding reputation as a company that can serve its customers with integrity and a firm commitment to product innovation and world-class customer service. It is gratifying that Aurora Capital and GE Pension Trust recognize what we have accomplished and are wholly supportive of our vision for the future.” “Aurora Capital and GE Pension have been longtime investment partners with tremendous capital resources and an unfailing commitment to seeking out great companies and providing the necessary support to further their strategic goals. Mitchell remains deeply committed to the markets we serve and our ability to invest in our customers, products and people has never been greater. We have developed a unique breadth of auto property and casualty and collision repair solutions and recognize the importance of continually adding value for our customers – look for more great things to come,” added Alex Sun, President of Mitchell. “Mitchell International not only has a storied and well recognized brand in the collision repair market but in recent years has emerged as the dominant provider of auto injury claims solutions,” said Gerald L. Parsky, Chairman of Aurora Capital. “They have an impressive roster of customers and have invested in building a rich pipeline of promising new products. We very much look forward to partnering with Jim, Alex and the entire Mitchell management team to grow the business and continue their success in delivering valued products and services to their customers. As our partner, Mitchell will have an opportunity to draw upon our many years of operating experience growing and nurturing great companies. Led by Lawrence A. Bossidy, former Chairman and Chief Executive Officer of Honeywell International, Aurora’s investment advisory board is an invaluable resource that can assist in analyzing investment opportunities and further enhancing company strategy.” “We believe there are significant opportunities to grow and even enhance Mitchell’s growth trajectory by working with management to execute its established business plan,” added John T. Mapes, Partner of Aurora Capital. The transaction is expected to close in March 2007 pending customary conditions and certain regulatory approvals. Goldman, Sachs & Co. and Wachovia Securities, Inc. acted as financial advisors to the Company. Goldman Sachs Credit Partners L.P. will be the sole lead in obtaining financing for the transaction. ©2007 Collision Repair Industry INSIGHT | FEATURED
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