PE Firms Swoop On KIT Digital In Prepack Bankruptcy

Law360, New York (April 18, 2013, 5:26 PM EDT) -- A private equity trio with substantial equity holdings in KIT Digital Inc. will backstop a recapitalization and prepackaged bankruptcy that will cover all outstanding creditor liabilities currently held by the flagging media technology company, according to a late Wednesday announcement.

Under the terms of the turnaround deal, Prescott Group Capital Management LLC, JEC Capital Partners LLC and Stichting Bewaarder Ratio Capital Partners will sponsor a plan that will cluster New York-based KIT's profitable units into a new entity called Piksel. Together, the units provide video management...
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