Yearly Archives: 2006

TAL International Group, Inc. Announces Closing of Initial Public Offering

TAL International Group, Inc. announced today the closing on October 17, 2005 of its initial public offering of 11,500,000 shares of common stock at a price to the public of $18.00 per share. All shares were sold by TAL. TAL has granted the underwriters the option to purchase up to 1,725,000 additional shares of common stock from certain shareholders of TAL. Net proceeds to TAL from the offering, after underwriting discounts and commissions, were $192,510,000.

The managing underwriters of the public offering are Credit Suisse First Boston LLC, Deutsche Bank Securities, Inc., Jefferies & Company, Inc. and UBS Securities LLC acting as joint book-running managers, and Robert W. Baird & Co. Incorporated, Morgan Keegan & Company, Inc. and Fortis Securities LLC acting as co-managers.

The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from the prospectus departments of Credit Suisse First Boston LLC at One Madison Avenue, New York, NY 10010, Deutsche Bank Securities LLC at 1251 Avenue of the Americas, 25th Floor, New York, NY 10020 or Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY 10022.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About TAL International Group, Inc. 

TAL is one of the world’s largest lessors of intermodal freight containers with 19 offices in 12 countries and approximately 195 third party container depot facilities in 40 countries. The Company’s global operations include the acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers. TAL’s fleet consists of over 620,000 containers representing approximately one million twenty-foot equivalent units (TEU). This places TAL among the world’s largest independent lessors of intermodal containers as measured by fleet size.

“Safe Harbor Statement” under the Private Securities Reform Act of 1995

Statements in this press release regarding TAL International Group, Inc.’s business that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results. For a discussion of such risks and uncertainties, see “Risk Factors” in the Company’s Registration Statement on Form S-1, File Number 333-126317, filed with the Securities and Exchange Commission.

IT Services Firm, ITSolutions LLC, Ranks No. 29 on the 2006 Inc. 500

Inc. magazine today announced its 25th annual Inc. 500 ranking of the fastest-growing private companies in the country. IT Services Firm, ITSolutions LLC, ranks No. 29 on the list, with three-year growth of 1,736.9 percent. ITSolutions was also ranked as the 2nd fastest growing company in the IT Services sector by the magazine.

ITSolutions delivers Information Technology solutions primarily to civilian agencies of the U.S. government, including the Food and Drug Administration, Internal Revenue Service, Department of Treasury, Health and Human Services, and the Security and Exchange Commission. The Company offers the full life-cycle of IT solutions from needs analysis and requirements definition through implementation and ongoing operation and maintenance. ITS is based in Gaithersburg, Maryland and employs approximately 150 professionals.

The 2006 Inc. 500, as revealed in the September issue of Inc., reported the most robust bunch of companies the magazine has ever compiled, with aggregate revenue of $19.7 billion, up from $16.5 billion last year and $12.9 billion in 2000. Most important, the 2006 Inc. 500 companies were engines of job growth, having created more than 90,000 jobs since those companies were founded.

This year’s list is the first to include businesses that started up immediately before and after September 11, 2001 – including the No. 1 company and 20 companies in the top 50, including ITSolutions. In total, 104 companies listed on this year’s Inc. 500 were started after 2000.

“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”

“To make the Inc. 500 List is an extraordinary honor,” said ITSolutions CEO Stefan Lalos. “We have worked very hard to grow our business, which is clearly reflected in this achievement.”

FishNet Security Merges with California Based SiegeWorks LLC

FishNet Security (FNS) is pleased to announce that it has closed on an agreement with SiegeWorks LLC to merge the two information security businesses. SiegeWorks has become a wholly owned subsidiary of FishNet Security. The combined companies will have nearly 200 information security professionals operating out of 18 locations across the U.S. with Corporate Headquarters in Kansas City, Missouri and Western Region headquarters in Livermore, California.

“We are very pleased to make this announcement,” says Gary Fish, CEO of FishNet Security. “FishNet Security could not have found a better West Coast partner to add to our vision of building the nation’s largest Information Security Solutions Provider. Our businesses, and more importantly our cultures, are very similar and complimentary,” explains Fish. “SiegeWorks has a strong management team that will become an integral part in executing our national expansion strategy”.

The SiegeWorks team is very excited to join forces with FishNet Security,” says Jeff Bennett, CEO of California based SiegeWorks LLC. “Combined, we now have the scale and breadth of resources to further deliver on our promise of providing world class security solutions.”

“We congratulate Gary Fish and Jeff Bennett and their teams for having found such complimentary partners”, said Jeff Frient, Partner at the Edgewater Funds, an investor in FNS. “The combined business will be the largest information security solution provider nationally.”

About FishNetSecurity 

FishNet Security is the nation’s most respected security solutions provider. FNS expertise includes information security strategy, continuous risk and application assessment, planning, implementation, management, training and support — enabling businesses to meet their unique security needs. Since 1996, FNS has offered information security services and products to global enterprises, government agencies, and small-medium sized businesses. For more information about FishNet Security, please visit us at www.fishnetsecurity.com.

About SiegeWorks LLC 

SiegeWorks LLC is a leading global enterprise security services, consulting and integration firm, serving as clients’ critical first line of defense. Clients obtain a direct connection to SiegeWorks’ vast network of resources, knowledge and expertise, which is renowned as one of the most advanced in the complex area of large application and database security.

Bantek West, Efmark announce merger

Bantek West Inc. and Efmark Premium Armored, two privately held pioneers in the ATM service space, announced plans to merge Jan. 4.

According to a news release, the merger is expected to pair the strengths and resources of both companies. Efmark customers will gain access to a broader service portfolio, including branch coin and cash services and maintenance of equipment such as bank-system computers, teller-cash dispensers, recyclers and teller/platform-automation systems. Bantek customers will benefit from Efmark’s broad maintenance and service reach, hardware sales, cash management and technical expertise.

“Our merger with Bantek will enable us to continue to keep pace with increasing growth and consolidation in the financial services industry,” said Mark Hoppe, Efmark’s president and chief executive officer. “As financial institutions seek cost efficiencies in their growing ATM networks, our combined company will be in a unique position to offer an end-to-end solution to meet their every need.”

The merger creates a national footprint of 75 armored branches located in 43 states, capable of servicing the continental United States. The new company will have a national infrastructure of more than 2,500 employees.

The Edgewater Funds, a Chicago-based private equity firm that is a minority shareholder in Bantek, is expected to help fund the merger and become a minority shareholder in the combined company. The companies will operate as wholly owned subsidiaries of a newly formed holding company that will continue to be owned by both companies’ shareholders.

The holding company is expected to adopt a new name and identity in early 2006. All services will be marketed and sold solely under that new name shortly thereafter.

“Bantek joining forces with Efmark creates an unparalleled value proposition for financial institutions,” said Fred Wich, vice chairman of Bantek. “While the companies have had the same strategic vision, our strengths complement one another, and each company brings something new to the table, making us better equipped to deliver the benefits of a true single-source provider.”