Sentinel Capital Partners has acquired Revenew International, a provider of cost recovery and cost containment services, from Levine Leichtman Capital Partners. Revenew has been a portfolio company of Levine Leichtman since September 2010.
Revenew serves clients – mainly Fortune 500 companies in the energy, utilities, and manufacturing sectors – across two core service lines including contract compliance and supplier payment review. Revenew’s services find cash recoveries for its clients through the identification of incorrect payments, overbilled amounts, and compliance with commercial terms. The company was founded in 1999 and is headquartered in Houston (www.revenew.net).
“Revenew is the clear leader in the recession-resistant and fragmented cost recovery solutions industry,” said Kris Westbrook, President of Revenew. “Our strong value proposition is highly attractive to new clients and also helps expand existing client relationships.”
“Revenew has built a leading industry position, an impressive client base, and a record of superior financial performance,” said Eric Bommer, a partner at Sentinel. “We are excited to partner with Revenew’s talented management team and believe that Revenew offers a compelling suite of services to address the growing need for cost recovery solutions.”
Sentinel Capital Partners invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare services, and industrials. The firm is headquartered in New York (www.sentinelpartners.com).
Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is based in Los Angeles with offices in Chicago, Dallas, New York, London and The Hague (www.llcp.com).
© 2016 Private Equity Professional • 7-27-16
