HIG Capital Acquires Hospitality Services Provider

Law360, New York (April 24, 2013, 4:01 PM EDT) -- Miami-based private equity investor H.I.G. Capital LLC has acquired Pegasus Financial Services Inc., the world's largest processor of commissions paid by hotels to travel agencies, from Texas hospitality technology company Pegasus Solutions Inc., H.I.G. said Wednesday.

H.I.G. said it has closed the acquisition of Dallas-based PFS, which operates a global payment network and technology solutions platform for hotel and travel agencies worldwide. PFS' service offering includes commissions receipt and disbursement, foreign currency exchange and reconciliation and tracking services.

Financial details of the acquisition were not disclosed....
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