A prison telephone company owned by L.A. billionaire Tom Gores has brought in a new chief executive and pledged to implement a series of reforms under pressure from criminal justice activists who have targeted the firm and its owner.
Securus said was meant to accelerate its transformation into a “diversified technology company.”
“Society’s view of corrections has been changing over the last couple of years and is significantly more focused worldwide — but certainly in the United States — on outcomes, on reduction of recidivism and successful reintroduction into society,” he said. Securus will offer taxpayer-funded or commission-free contracts to agencies “in every circumstance where it is possible,” but will still offer commissions if that is what corrections agencies want, Abel said. “Our responsibility is to be able to provide our services in any model that a jurisdiction sees as being important or valuable in how they want to manage their corrections business,” he said.
Securus served some 3,400 correctional facilities and handed about 240 million calls in 2018, making it the second-largest prison telecom by market share. Its holding company lost $33.4 million on $684 million in revenue that year, according to asubmitted to a state regulator. The prior year it said it earned $67.7 million.
Tylek was among the leaders of the campaign to pressure several pension funds from investing in Platinum Equity Capital Partners V. The campaign brought some unwanted publicity to Platinum, leading the Pennsylvania State Employees’ Retirement System to decline to make a $100-million prospective investment in Platinum’s fund. But it did not prevent Platinum from raising its biggest fund yet.
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