Vision provides a comprehensive suite of residential and commercial communications services, including digital video, high-speed Internet, local and long distance telephone, alarm monitoring, and commercial data services. 

Louis V. Bertocci, a Partner at BV, commented, “This has been a successful investment for us and I want to thank Vision’s management team for their dedication and hard work over the past several years.  They have been great operating partners.” 

BV acquired the Company in late 2007 from the Pat Brady family, which had previously owned the business since its founding in 1945.  Under BV’s ownership, the Company expanded its service offerings to include Ethernet Transport services, cell tower fiber backhaul, fiber connectivity to schools, libraries and other governmental agencies as well as alarm monitoring and security. 

The acquisition of Vision will give EATEL an expanded service area throughout southeastern Louisiana that stretches from lower Livingston Parish to Southern Jefferson Parish.

About EATEL

EATEL was the first company in Louisiana to provide phone, high-Speed Internet and cable TV services over a state-of-the-art, all-fiber communications network that offers a broad array of advanced digital services, including 75 high-definition channels, TV Caller ID and hundreds of Video On Demand titles. Founded in Gonzales, Louisiana in 1935, EATEL celebrated its 75th anniversary in 2010 as the leading telecommunications service provider in the Ascension and Livingston Parish communities. To learn more about EATEL, visit www.eatel.com.

About Vision Communications

Founded in 1945, Vision Communications provides a broad array of advanced telecommunications services including digital cable TV, high speed internet access, local and long distance telecommunications, alarm monitoring and commercial data services.  Headquartered in Larose, Louisiana, Vision serves residential and commercial customers throughout central and southern Lafourche and southern Jefferson Parishes.   To learn more about Vision, visit www.viscom.com.

About BV Investment Partners

BV Investment Partners is an experienced sector-focused private equity firms in North America.  Since its founding in 1983, the firm has invested over $2.6 billion in over 75 companies, actively targeting investments in the information and business services, communications and media industries. For more information, please visit www.bvlp.com.

Vision provides a comprehensive suite of residential and commercial communications services, including digital video, high-speed Internet, local and long distance telephone, alarm monitoring, and commercial data services.  BV acquired the Company in late 2007 from the Pat Brady family, which had previously owned the business since its founding in 1945.  Under BV’s ownership, the Company expanded it service offerings to include Ethernet Transport services, cell tower fiber backhaul, fiber connectivity to schools, libraries and other governmental agencies as well as alarm monitoring & security. 

Louis V. Bertocci, a Partner at BV, commented, “This has been a successful investment for us and we have been very pleased with the operating performance of Vision. On behalf of BV, I want to thank Vision’s management team for their dedication and hard work over the past several years.  They have been great operating partners.” 

 Tony Duet, Chief Executive Officer of Vision, said, “Working with the professionals at BV, who have deep experience in the communications sector, proved very valuable in improving our operations. Our partnership with them has been enormously beneficial in terms of the daily operation of our company as well as planning long-range initiatives.  Furthermore, we expect our customers to benefit from this transaction and the exciting opportunity it brings.”

The transaction is subject to normal regulatory approvals and is expected to close in the fourth quarter.

 About EATEL

Based in Gonzales, Louisiana, EATEL provides phone, Internet and TV services to Ascension Parish and lower Livingston Parish residents over an all-fiber communications network that offers a broad array of digital programming, including 70 high-definition channels and hundreds of on-demand titles. Founded in 1935, EATEL recently celebrated its 75th anniversary as a service provider and leader in Ascension Parish. To learn about EATEL, visit www.eatel.com.

About BV Investment Partners

BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America.  Since its founding in 1983, the firm has invested over $2.6 billion in over 70 companies, actively targeting investments in the information and business services, communications and media industries. For more information, please visit www.bvlp.com.

The investment is the combination of Butterfield Fulcrum, a leading independent hedge fund administrator with more than 20 years of experience, and FORS Limited, an independent provider of wealth management reporting and administrative services to family offices, multi-family offices, trust companies and private clients.

Butterfield Fulcrum and FORS will be brought together into one parent company, headquartered in Bermuda.  They will operate as separate businesses and continue to be run by their current management teams.

Mr. Henderson and Mr. Calveley will serve as Chief Executive Officer and Chief Operating Officer of the parent company, respectively and maintain a significant equity stake in the combined entity.  Mr. Henderson will take on the role of CEO of Butterfield Fulcrum.  This transaction reunites Messrs. Henderson and Calveley with Butterfield Fulcrum where they previously served as senior executives, Mr. Henderson as CEO and Mr. Calveley as Chief Financial Officer and Chief Risk Officer. In 2009, they acquired FORS where Mr. Calveley serves as CEO. 

Justin H. Harrison, a Partner at BV Investment Partners, said, “The acquisition of Butterfield Fulcrum and merger with FORS will build a leading provider of business services in the alternative asset sector.  We are excited to partner with Glenn and Tim, in the management buyout of Butterfield Fulcrum, and believe that their leadership in partnership with the existing managers will enhance Butterfield Fulcrum’s position as a premier provider of fund administration services.

“This is an exciting opportunity that reunites Tim and me with the senior management team of Butterfield Fulcrum whom we know well,” said Mr. Henderson. “We share the same guiding principles and our complete focus will be on continuing to deliver quality service to our clients.”  Mr. Calveley said, “Butterfield Fulcrum and FORS as part of a combined organization will have the synergies to provide great value to clients through our service offerings and technology platforms.  With the help of BV Investment Partners and management, we will build the company into the leading provider of comprehensive outsourcing solutions across the alternative investment management, family office, and trust industries.”

Vikrant Raina, Managing Partner of BV Investment Partners, said, “Fund administration in the alternative investment sector is becoming increasingly complex as a result of new regulatory oversight and other factors changing the dynamics of the industry. In addition, cost efficient and sophisticated customized reporting solutions for the family office sector is a growing market. The combination of Butterfield Fulcrum and FORS creates a company with the scale, diverse suite of services, global presence, and expertise of an experienced management team that can effectively serve the needs of clients.  We look forward to working with Glenn and Tim to further the company’s experienced team, technology advantage, and global scope.”

Mr. Raina, Mr. Harrison, and Mr. Sean Wilder will be joining Glenn and Tim on the Board of Butterfield Fulcrum.

The transaction is subject to regulatory and government approvals and is expected to close in the first quarter of 2011.

About Butterfield Fulcrum

Butterfield Fulcrum is a leading independent hedge fund administrator with more than 20 years of experience. Headquartered in Bermuda, it has offices in nine countries and services over 800 funds. The business is committed to providing clients with exceptional operational risk management capabilities through customized and transparent fund administration solutions. Butterfield Fulcrum offers a full service administration platform to: Hedge Funds, Fund of Funds, Managed Accounts, Private Equity and Real Estate Funds.

About FORS

FORS Limited is an independent global organization providing accounting and reporting solutions to Family Offices, Multi-Family Offices, Trust Companies and Private Clients.  FORS has offices in Bermuda, New York, Singapore and Toronto. The FORS team is committed to providing an exceptional level of personalized service focusing on meeting the unique demands of our clients, utilizing a leading family office web based technology platform to provide reporting solutions on client assets in excess of $25 billion. Its range of services include: a comprehensive accounting solution for family offices and trustees, preparation of financial statements, customized reporting solutions, investment monitoring, performance reporting and family office administrative services.  For more information, please visit www.fors.bm.

About BV Investment Partners

BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America.  Since its founding in 1983, the firm has invested over $2.6 billion in over 70 companies, actively targeting investments in the information and business services, communications and media industries.

Founded in 1963 and based in Tulsa, Oklahoma, PetroSkills is the leading provider of technical training for the oil and gas industry.  In 2000, Mr. Brett and Mr. Wing acquired the predecessor company from its founders and led the formation of PetroSkills and the PetroSkills Alliance.  PetroSkills is well-recognized for its breadth and quality of course offerings across an expansive set of more than 200 knowledge areas within upstream, downstream, and HSE petroleum subject disciplines.  The PetroSkills Alliance consists of over twenty global energy companies and is the industry’s leading forum for collaborative development and refinement of competency programs and curriculum.  In addition, PetroSkills provides dynamic software and information solutions that help global energy companies assess and fulfill their workforce development needs, and help oil and gas engineers and operations personnel advance their careers.  Through its full suite of training, content, Alliance member engagement and proprietary software solutions, PetroSkills is able to meet the full breadth of its clients’ technical learning and career development needs.

Justin Harrison, a Partner at BV who led the investment, said, “Since first contacting PetroSkills’ management team over a year ago, we’ve gotten to know them and their Company very well.  BV is proud to support PetroSkills’ management team, who are recognized throughout the industry as trusted partners.  We share management’s view that long-term demand drivers for oil and gas resources, the increasing technological complexity of finding and extracting oil and gas, and a demographic shift in the industry’s workforce composition will drive a growing and sustainable need for quality technical training and competency-based solutions.  We believe that the Company has tremendous growth prospects over the next several years and that we have a partner in Ford Brett who is passionate about and committed to the continued success of PetroSkills.”

Ford Brett, CEO of PetroSkills, said, “Our new relationship with BV Investment Partners will accelerate PetroSkills’ development of new platforms for delivery of education and training to the industry.   With the ongoing ‘big crew change’ and heightened awareness for safety and training we are particularly pleased to work with BV’s fine team to extend our global reach, and expand how we deliver learning, competency development, and software solutions to the worldwide petroleum industry.”

Vikrant Raina, Managing Partner of BV, said, “PetroSkills provides us the opportunity to invest in a best in class management team operating in an area of significant secular growth.  Continuing education is a sector we know well and we recognize that ongoing technical development of the workforce will become an even more critical component of the global energy industry.”

BV Investment Partners also capitalized on its extensive network of operating partners by engaging Bob Dowdell, who was CEO of BV’s former portfolio company Marshall & Swift, as an active investor of PetroSkills.  Mr. Dowdell will join Messrs. Harrison and Raina on the PetroSkills Board of Directors.  Mr. Dowdell, a founder of Career Education Corporation, which grew from a start-up to a $2 billion revenue post-secondary training company, will also serve in an interim senior consulting role at PetroSkills.

PetroSkills’ customers include many of the world’s largest energy companies, including BP, Shell, Chevron, Halliburton, Saudi Aramco, ExxonMobil, Occidental Petroleum, ConocoPhillips, Repsol YPF, Marathon, Swift Energy, PTTEP, Woodside, Baker-Hughes, BG Group, Nexen, Talisman, MOL, Pertamina, Maersk, Eni S.p.A. and others.

 About BV Investment Partners

BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America.  Since its founding in 1983, the firm has invested over $2.6 billion in over 70 companies, actively targeting investments in the information and business services, communications and media industries. For more information, please visit www.bvlp.com.