IPO Not Ruled Out
FishNet was acquired by Investcorp in November 2012, and Fennessy said he would not rule out seizing a future opportunity to take the company public. FishNet doesn't need an IPO to raise cash for acquisitions, Fennessy said. Investcorp put FishNet in a strong cash position in its operations, as well as in its ability to make investments required to grow the business, he said.
"If you look out toward the future, IPO is clearly one of the options we will pursue or look at as well as other options," Fennessy said. "Right now, none of it is in the short-term plans; these are just other opportunities down the road as we continue to grow and expand the business."