BV Investment Partners has acquired Franco Signor, a provider of Medicare Secondary Payer (MSP) compliance services to self-insured companies, insurers, and third-party administrators.
Franco Signor is a full-service outsourced provider of MSP compliance software and services. The company’s services are used by its customers to manage MSP-related matters on workers’ compensation, no-fault, and liability claims in compliance with long-established, complex and evolving MSP regulatory guidance. Franco Signor, led by CEO John Williams, was founded in 2010 and is headquartered in Bradenton, FL (www.francosignor.com).
“We are proud of the organization and reputation we have built over the last nine years,” said Mr. Williams. “With BV now as our financial partner, we’re excited to accelerate efforts to further strengthen our offering of data-driven and technology-enabled solutions to a market we know well and care deeply about.”
“We recognize the importance of MSP compliance within healthcare cost containment efforts and, furthermore, recognize Franco Signor as a true leader in this space, helping its customers navigate ever-evolving and complex rules and regulations,” said Vikrant Raina, managing partner of BV Investment Partners. “John and his team are true domain experts and we are proud to be partnered with them for this next phase of growth.”
BV Investment Partners makes investments in companies that are active in the business services, software, and information technology services industries. Since its founding in 1983, the firm has invested over $3 billion in more than 95 companies. BV Investment Partners is headquartered in Boston (www.bvlp.com).
“The investment in Franco Signor aligns well with BV’s experience investing in must-have outsourced services within highly regulated end-markets, like insurance and healthcare, which uniquely combine people, processes and technology to influence high-value decision-making and outcomes,” said Sean Wilder, a principal of BV Investment Partners. “We have been working closely with the team on an ambitious strategic plan and look forward to executing on that plan in the years to come.”
The buy of Franco Signor is BV’s eighth 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 acquisition in February 2019 of St. Louis-based Intelliteach, a provider of outsourced business services to law and accounting firms specializing in accounts receivable management, IT support, secretarial support, and training and education (BV Acquires Intelliteach from Dominus).
JMP Securities (www.jmpg.com) was the financial advisor to Franco Signor.
© 2019 Private Equity Professional | April 25, 2019
