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Late last month, Gerry Bello and Bob Fitrakis at FreePress.org broke the story of the Mitt Romney/Bain Capital investment team involved in H.I.G. Capital which, in July of 2011, completed a “strategic investment” to take over a fair share of the Austin-based e-voting machine company Hart Intercivic.
“Several tanker trucks full of political ink have been spilled on Mitt Romney’s tenure as a vulture capitalist at Bain Capital,” Bello and Fitrakis wrote. “A more important story, however, is the fact that Bain alumni, now raising big money as Romney bundlers are also in the electronic voting machine business. This appears to be a repeat of the infamous former CEO of Diebold Wally O’Dell, who raised money for Bush while his company supplied voting machines and election management software in the 2004 election.”
Lee Fang at The Nation recently confirmed the FreePress reporting in a story of his own on the “crony capitalism” of Tagg Romney, whose father’s money and high-profile connections present a number of troubling corporate conflicts of interest should Mitt Romney become President. The Daily Dolt also followed up with a very well-documented article on the H.I.G. group, their connections to Bain, and their takeover of Hart Intercivic.
Hart’s announcement of the deal describes H.I.G.’s role as as “co-investors”, though the financial services firm which brokered the deal described it in their own announcement as a full-fledged acquisition: “Hart Intercivic was acquired by HIG Capital late last week. The deal caps off a 2+ year relationship with Hart! Congrats to both Hart and the HIG team .its going to be a great partnership!”