business outsourced services

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

Thompson Street Capital Partners has acquired Revenue Management Solutions (RMS), a provider of healthcare related electronic revenue management services. Scott Thomas, CEO of RMS, and the existing executive management team, contributed equity to the transaction and will remain with the business in a day-to-day capacity.

RMS’ products and services are designed to facilitate the matching, posting and reconciliation of health care payments to underlying claims or other correspondence. During 2016, the processed over 70 million transactions worth more than $40 billion in healthcare expenditures. RMS employs nearly 100 people and provides its services to banks, enterprise resource planning (ERP) providers and directly to healthcare institutions throughout the United States. The company was founded in 2006 and is based in Oklahoma City (www.revmansolutions.com).

“We are excited about partnering with Thompson Street and believe that this recapitalization will provide a strong base from which to continue the success RMS has achieved since its founding in 2006,” said Mr. Thomas. “The company has grown tremendously in recent years and the expertise that Thompson Street brings through its experience in both healthcare and business services will further accelerate that growth.”

“We are pleased to have the opportunity to partner with Scott and his executive team to help continue the growth of RMS,” said Jim Cooper, Managing Partner of Thompson Street. “The company’s focus on providing value to its customers and its strong legacy of customer support fit perfectly with our culture and we look forward to a successful partnership with the company.”

Thompson Street Capital Partners makes investments in companies with annual revenues between $20 million and $200 million and EBITDA between $4 million and $15 million. Since its founding in 2000, Thompson Street has acquired more than 100 companies in the business services, healthcare services and engineered products sectors. The firm held a final close of Thompson Street Capital Partners IV, LP with $640 million of capital commitments in December 2015. Thompson Street is based in St. Louis (www.tscp.com).

Thompson Street was advised by investment bank H&Q Advisory Partners (www.hqadvisorypartners.com).

© 2017 Private Equity Professional | January 10, 2017