Private equity firm HIG Capital LLC has closed on a deal for Pegasus Financial Services, a company that processes commissions paid by hotels to travel agencies.
Dallas-based Pegasus provides commissions receipt and disbursement, foreign currency exchange and reconciliation and tracking services to hotels and travel agencies globally. The company was sold by Pegasus Solutions Inc.
HIG, headquartered in Miami, has more than $12 billion in equity capital under management. The firm’s portfolio companies include First Capital, which it purchased for $139 million in May 2010, and Sunshine Media Inc., which it picked up in February 2001 for an undisclosed price. More recently, in February, HIG closed a deal for Family Behavioral Resources, and in October, closed a deal for womensforum.com Inc.
Paul Hastings LLP represented HIG on the deal.