Databank IMX, a portfolio company of Svoboda Capital Partners, has acquired eDocument Resources. The acquisition of eDocument Resources is the third add-on acquisition for Databank since Svoboda Capital first invested in the company in January 2011.
eDocument Resources (eDoc) is an IT consulting firm that provides services that improves a company’s enterprise-wide document management services. The company was founded in 1997 and is headquartered in Minneapolis with an additional office in Lincoln, NE (www.edocumentresources.com). eDocument Resources CEO Ken Schempp and CTO Matthew Charlson will join the shareholders and management team at Databank.
“The acquisition of eDoc further cements our leadership position in the enterprise content management industry,” said Chuck Bauer, Co-founder and CEO of DataBank. “eDoc brings an exceptional wealth of human capital, expands our solutions capabilities particularly within the state and local government, insurance and healthcare markets, widens our client base and extends our geographic coverage. We are fortunate to have Ken Schempp and Matt Charlson, co-founders of eDoc, joining the DataBank team to play an integral role in developing our business across the country.”
Databank is a provider of outsourced imaging and information services, including document scanning, indexing, physical and electronic document storage, and software to manage information. The company provides these services to customers in the government, higher education, healthcare, energy and general industrial markets. Databank is headquartered in Beltsville, MD (www.DataBankIMX.com).
Svoboda Capital Partners has over $300 million of capital under management and invests from $10 million to $25 million in value-added distribution and business services companies that have revenues from $10 million to $100 million and EBITDAs from $3 million to $15 million. The firm was founded in 1998 and is based in Chicago (www.svoco.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-8-13
