Aventiv Receives Buyout Interest in Effort to Avoid Bankruptcy

Platinum Equity-backed Aventiv Technologies has told investors there’s been interest from multiple parties to purchase the prison-phone company as it faces a December deadline to reach a buyout deal or face potential bankruptcy.

The firm updated investors during a Wednesday call, at which it reported slight revenue and earnings growth for 2024 so far, according to people familiar with the situation who asked not to be identified discussing a private matter. Management said it has received interest from those looking to buy the entire company and not just parts of Aventiv, they added. Those parties weren’t identified.

If Aventiv ...