Name/Address Change
SKM Growth Investors Announces Name Change | Parallel Investment Partners
By Dallas, TX
Aug 22, 2005, 11:34

SKM Growth Investors (SKMGI), a leading private equity firm that invests in growing companies in the U.S. lower middle market, today announced it has changed its name to Parallel Investment Partners (Parallel). Parallel symbolizes the firm's long-established track record of aligning its interests with business owners, investors and deal sources. The firm remains committed to its historical strategy of sponsoring recapitalizations, growth capital investments and buyouts involving growing, lower middle market companies.

In April 2005, Parallel transitioned to operating independently from its partners at Saunders Karp & Megrue (SKM) in connection with their merger with Apax Partners, Inc. Parallel continues to manage the investments made on behalf of SKM's third fund and work closely with Apax Partners on investing Parallel's remaining pool of capital.

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SKM Growth Investors [Parallel Investment Partners]

FIRMS

Parallel Investment Partners is a leading private equity firm that invests in growing, entrepreneurially led U.S. companies. The firm was formed in 1999 and typically invests $5 million to $15 million of equity capital to sponsor recapitalizations, growth capital investments and buyouts involving lower middle market companies. In April 2005, the firm spun-off from Saunders Karp & Megrue, a $1.5 billion private equity firm, which merged with Apax Partners Inc. Parallel is uniquely focused on partnering with successful entrepreneurs committed to building great companies. Parallel is headquartered in Dallas, Texas, and has an office in Los Angeles, Calif.

NOTE

Founded in 1999, the firm has successfully sponsored investments in 13 growth companies, completed several add-on acquisitions in support of these portfolio companies, and has delivered exceptional results.

Recently, in June 2005, Parallel sponsored the formation of JetStar Energy Services through the recapitalization and combination of two independent Texas-based oilfield services companies, Rio Pumping Services and Jet-Star Co. JetStar Energy Services provides pressure-pumping services to mid-tier oil and gas producers in the Mid-Continent region, specifically North Texas and Oklahoma.