BV Investment Partners has acquired Intelliteach, a provider of outsourced business services, from Dominus Capital.
Intelliteach is a provider of outsourced services to law and accounting firms specializing in accounts receivable management, IT support, secretarial support, and training and education through its e-learning platform. Intelliteach, led by CEO Seelin Naidoo, is headquartered in St. Louis, with additional offices in Atlanta, London, Toronto, and Goa (India) (www.intelliteach.com).
Dominus acquired Intelliteach in October 2014 from River Associates Investments. “In partnership with Dominus, we have successfully broadened our service offering to our clients and expanded our geographic reach internationally,” said Mr. Naidoo. “I would like to thank Dominus for their support over the past four years.”
“Intelliteach has grown into the premier outsourced services provider to the legal market,” said Ashish Rughwani, a founding partner at Dominus. “Intelliteach is very well positioned for its next stage of growth. We’ve enjoyed working with the management team and appreciate their efforts positioning the business for continued success.”
Dominus makes control equity investments in North American middle market companies that have at least $10 million of EBITDA. Sectors of interest include business services, consumer products and services, and light industrial. The firm was founded in 2008 and is headquartered in New York (www.dominuscap.com).
“Intelliteach has positioned itself as a trusted adviser through its technology-enabled service offerings,” said Matt Kinsey, a managing director of BV. “Seelin and his team have built a business that delivers unique value to its customers, and we’re thrilled to be backing them in the recapitalization of the business. We’re looking forward to supporting the team’s growth strategy in any way we can, and believe our deep industry experience base and network can be applied to help Intelliteach continue to scale organically as well as through acquisitions.”
BV Investment Partners makes investments in companies that are active in the business services and information technology services industries. Since its founding in 1983, the firm has invested over $3 billion in more than 94 companies. BV Investment Partners is headquartered in Boston (www.bvlp.com).
“We are investing in a business with exceptional fundamentals, supported by long-term industry tailwinds, and backed by a management team in which we have great conviction,” said Jason Kustka, a principal of BV. “We think that Intelliteach is only at the beginning stages of its evolution and look forward to helping management take advantage of an attractive market opportunity.”
The buy of Intelliteach is BV’s seventh platform investment for its ninth fund, BV Investment Partners Fund IX LP, which closed in April 2017 at its $750 million hard cap. This transaction follows BV’s buy just last week of Dallas-based RKD Group, a provider of fundraising and marketing services to the nonprofit sector (BV Acquires Nonprofit Fundraiser).
Raymond James & Associates (www.raymondjames.com) was the financial advisor to Intelliteach and Dominus on this transaction.
© 2019 Private Equity Professional | February 7, 2019
