HOUSTON, Dec. 21, 2010 /PRNewswire-FirstCall/ -- RigNet,
Inc., a portfolio company of SMH Private Equity Group, has
completed an initial public offering of 5,000,000 shares of common
stock at $12.00 per share to finance
continued expansion of the company. SMH Private Equity Group is a
division of Sanders Morris Harris Group.
The company is listed on the NASDAQ Global Select Market under
the symbol RNET.
RigNet builds secure communications networks that provide voice,
data and video service for offshore oil and gas rigs. It has more
than 375 customers in 30 different countries. This is the
third major private equity investment exit in the past twelve
months for SMH Private Equity Group, following the acquisition of
Syntex by IHS and the sale of Lombardi Software to IBM.
About SMH Private Equity Group
SMH Private Equity Group invests in early-stage energy
technology and healthcare technology companies. It focuses on
emerging sectors that leverage its experience and expertise -
providing the most productive guidance to its portfolio companies.
Additional information is available at www.smhpeg.com.
About Sanders Morris Harris Group
Sanders Morris Harris Group (Nasdaq: SMHG) is a wealth
management company that manages approximately $12.1 billion in client assets. Client assets
include the gross value of assets under management directly or via
outside managers and assets held in brokerage accounts for clients
by outside clearing firms. Its corporate philosophy of investment
in common aligns its interests with those of its clients.
Sanders Morris Harris has more than 540 employees in 20
states. Additional information is available at
www.smhgroup.com.
SOURCE Sanders Morris Harris Group Inc.