EQUITY GROUP APAX BUYS $30-MILLION STAKE IN BOLERO.COM

EQUITY GROUP APAX BUYS $30-MILLION STAKE IN BOLERO.COM    Apax Partners, a private equity investment group, has bought $30 million worth of shares in Bolero.com, the international document communications system provider.
   The funds were secured in a private placement of shares. Apax Partners’ investment in Bolero.net will allow the company to accelerate the development of the Bolero system, said a spokesman for the Through Transport Club, one of the two original owners of Bolero.net.
   Bolero.net was created by the international financial messaging co-operative S.W.I.F.T (the Society for Worldwide Interbank Financial Telecommunication) and Through Transport Club, a mutual insurance group.
   Since its launch last September, Bolero.net has signed 40 major banks, shipping companies, trading houses and business-to-business exchanges as customers.