A national campaign to stop investments in private equity prison profiteers
TARGET
Platinum Equity, owners of predatory prison and jail telecom corporation Securus
One in three families with an incarcerated loved one goes into debt trying to stay connected thanks to the egregious cost of prison and jail communication. There are just a handful of corporations behind this predatory business. Aventiv Technologies (also known as Securus Technologies), owned by Platinum Equity, is among the largest and engages in many of the industries most predatory practices.
IMPORTANT! After years of criticism, Platinum Equity is now looking to offload Aventiv in a SPAC merger with the Atlantic Avenue Acquisition Corporation (NYSE: ASAQ). We urge investors to critically review and reject this merger. Please review our Alternative Investor Presentation and contact us for more information.
WINS
- Following pressure from artists and activists, Tom Gores resigned from LACMA due to his active participation in the prison industry.
- In early 2020, the market responded to advocacy pressure and Securus' leverage loan debt plummeted, forcing Platinum Equity to restructure the corporation and start crisis management.
- The Pennsylvania State Employees Retirement System refused to commit a single penny of its $27 billion fund to Platinum Equity, depriving the private equity firm of a proposed $150 million investment!
COVID-19 HAS CREATED NEW URGENCY around our efforts as private equity firms that own prison profiteers do little to nothing to ensure the health and well-being of incarcerated people and their families. In response, we issued letters to Platinum Equity, American Securities, HIG Capital, BlueMountain Capital, and Apax Partners demanding they take actions respective to each of their businesses.
