Professional Services Acquisitions in 2019

CIPHR, the LDC-backed HR software provider, has completed the acquisition of Marlow-based Payroll Business Solutions (PBS). The deal integrates payroll capability into CIPHR's platform and enables two new products—CIPHR Payroll and CIPHR Outsourced Payroll—expanding the group's payroll services and customer reach.

An affiliate of Warburg Pincus and Vivtera have acquired Arise Virtual Solutions from Strait Lane Capital Partners. The investment will support scaling Arise's virtual BPM platform, expanding its gig-based service lines and geographic reach while leveraging Vivtera's BPM operating expertise and Warburg Pincus's capital.

Kartesia, an independent European private investor, acquired Richardson — a Philadelphia-based provider of tech-enabled enterprise sales training — from ClearLight Partners and will merge it with Kartesia’s existing portfolio company, Sales Performance International (SPI). The combination creates a global sales training leader with a comprehensive suite of classroom and digital learning, CRM-enabled execution tools, and measurement capabilities to serve large enterprise clients.

Walter Capital Partners, supported by investors that include the Bourgie-Bovet family (Fransylval), has acquired a significant stake in Athos Services Commémoratifs, one of Quebec’s largest funeral services companies. The investment will provide capital and expertise to accelerate Athos’s growth through organic initiatives and acquisitions across Quebec and into new markets.

White Wolf Capital has recapitalized Temporary Housing Directory (THD), partnering with founder Teresa Vidger to support THD's growth and technology investments. The transaction provides THD with additional capital and resources to accelerate organic growth and M&A initiatives while maintaining the company's high-touch service model for insurance and corporate relocation clients.

Alight Solutions completed the acquisition of NGA Human Resources to combine complementary payroll and HR technology and services, enhancing global payroll delivery and HR outsourcing capabilities. The deal expands Alight’s geographic reach and product portfolio by integrating NGA’s global payroll platforms and expertise into Alight’s benefits, payroll and cloud offerings; financial terms were not disclosed.

Davies, the HGGC-backed U.K. operations management and digital solutions provider, has acquired Alternative Service Concepts (ASC), a Nashville-based workers' compensation and property & casualty claims administration firm. The acquisition — Davies' 15th under HGGC ownership — expands its North American Claims Solutions capability and further strengthens its end-to-end claims processing and adjusting services.

Clarion Capital Partners completed an investment in Harris & Harris, a Chicago-based accounts receivable management and customer care firm. The company's CEO Arnie Harris and COO David Harris will retain meaningful ownership and continue in their roles; Clarion intends to support investments in employees, compliance, and technology and will pursue M&A to expand the business geographically and add new services.

VSS and Trivest Partners have completed a growth investment in Quatrro Business Support Services (QBSS), with BPO veteran CM Sharma investing alongside them and assuming the role of CEO. The capital will support QBSS's organic growth and a planned add-on acquisition program to expand its tech-enabled BPO services for small and mid-sized businesses and enterprise customers.

ECI Partners has made a minority growth investment in KB Associates to support the firm's next stage of growth, expand its international presence and enhance its service offering. KB Associates, a Dublin-headquartered professional services firm specialising in management company, governance and compliance services for investment funds and asset managers, will remain majority owned by its management team.

MML Capital Partners has made a significant minority (growth) investment in StoneTurn, a global advisory firm, to support the firm's expansion into new geographies and practice areas while preserving its independence. As part of the deal, MML partners Ian Wallis and Shawn St. Jean joined StoneTurn’s board; Investec advised StoneTurn and Houlihan Lokey advised MML.

Patrol Protect and Secure (PPS), a security platform formed by Mangrove Equity Partners and Sunlake Capital, has acquired American Heritage Protection Services (AHPS), an Illinois-based provider of armed and unarmed security guard services. The deal is an add-on acquisition to expand PPS's scale and geographic footprint, strengthening its capabilities serving utility companies and healthcare facilities.

a360inc, a Carrollton, Texas-based legal and financial services technology and outsourcing provider, received a strategic growth investment led by Knox Capital and supported by affiliates of Morgan Stanley Private Credit and ORIX Mezzanine & Private Equity. The capital will be used to accelerate technology and service improvements in the creditors' rights market and to pursue add-on acquisitions; terms were not disclosed.

Protos Security, backed by Southfield Capital, has completed the acquisition of Security Resources (SRI), a Cherry Hill, New Jersey-based managed security services and manned guard provider. The deal combines Protos' tech-enabled managed security capabilities with SRI's in-house guard operations to expand service offerings and deepen client relationships.

IMS ExpertServices, a Trinity Hunt Partners portfolio company, has acquired The Focal Point, an Oakland-based trial graphics and litigation consultancy. The deal expands IMS' litigation service offerings—adding trial graphics and litigation consulting capabilities to its expert witness search, jury consulting and presentation services platform.

Nationwide Property & Appraisal Services, backed by Corridor Capital, has acquired Elliott & Company Appraisers, a Greensboro, North Carolina–based valuation and appraisal management firm. The deal expands Nationwide's valuation product set and Southeastern U.S. footprint while retaining Elliott's management team to support integration and product development.

Southfield Capital has partnered with Milrose Consultants, a New York–based provider of building code compliance, permitting, and regulatory filing services, with Milrose's founders and senior management remaining in leadership roles. The investment will support Milrose's expansion of services and national growth; debt financing was provided by OFS Capital and Modern Bank and Wiggin & Dana served as legal counsel to Southfield.

Guidehouse, a Veritas Capital portfolio company, agreed to acquire Navigant Consulting, Inc. for approximately $1.1 billion in cash ($28.00 per share). The deal combines Guidehouse's public-sector consulting strengths with Navigant's commercial expertise across healthcare, energy and financial services to create a global consultancy with expanded scale and capabilities.

Veracity Research Company (VRC), a portfolio company of Trinity Hunt Partners, has acquired Probe Information Services, a Western U.S. investigative and surveillance firm. The acquisition is an add-on to the VRC platform to expand its footprint and capabilities in the Western United States; Probe's executive management will remain with the business.

Keystone Partners, a portfolio company of Silver Oak Services Partners, acquired the career transition and leadership development business operations from Chicago-based Kensington International, Inc. The add-on expands Keystone's presence and capabilities in the greater Chicago market and integrates Kensington's high-touch outplacement, executive coaching and talent assessment services into Keystone's platform.

Kelso & Company (via Kelso Fund X) has acquired a majority investment in J.S. Held, a specialty consulting firm focused on insurance claims management and forensic consulting. The transaction transfers ownership from Lovell Minnick Partners to Kelso and positions J.S. Held to pursue further organic and inorganic growth and capability expansion.

MSouth Equity Partners, an Atlanta-based private equity firm, completed the acquisition of BIG Language Solutions in partnership with the company's management team led by Jeff Brink. MSouth intends to use BIG as a platform for a buy-and-build strategy focused on translation, interpretation, and related language services for regulated verticals such as legal, financial services, and life sciences.

ECI Partners has made an investment in Send For Help (now rebranded as Peoplesafe) to support the company's growth strategy and internationalisation. The lone worker protection provider operates brands including Skyguard, Peoplesafe and Guardian 24 and supplies personal safety devices, mobile apps and a 24/7 Alarm Receiving Centre to public-sector and corporate customers in the UK and Ireland.

Brookside Mezzanine Partners provided subordinated debt and minority equity to ABCOM Technology Group, a portfolio company of Dubin Clark & Company, to facilitate the recapitalization and combination with SmartSource Holdings LLC. The transaction expands ABCOM’s geographic footprint (to 26 offices in 21 markets) and strengthens its technology rental, digital signage and asset management capabilities across North America.

SinglePoint Group International Inc. has agreed to acquire General Revenue Corporation (GRC) from Navient. GRC, a Mason, Ohio-based college and university-focused asset recovery agency with approximately 130 employees, will continue operating from its Mason office and will join SinglePoint's receivables management and call center business.

Pamlico Capital has agreed to make a strategic investment in Business Network International (BNI); financial terms were not disclosed. The investment will fund accelerated investment in BNI’s global network, with a focus on technology and training to enhance the member and franchisee experience; Pamlico partners will join BNI’s board.

Bowmark-backed Lawyers On Demand (LOD) has acquired lexvoco, an Australasian alternative legal services business. The acquisition — which brings LOD legal operations, technology and consulting capabilities to a business with ten offices and more than 100 employees — advances LOD's international expansion and capability build in legal operations and tech.

Lightyear Capital LLC, a New York-based private equity firm focused on financial services, agreed to acquire Engage PEO, a Fort Lauderdale-based professional employer organization that provides HR outsourcing to small and mid-sized businesses. The management team will remain in place and the transaction was expected to close in Q2 2019; financial terms were not disclosed.

Transworld Systems Inc. (TSI) agreed to acquire Altisource Portfolio Solutions S.A.'s Financial Services business, including Nationwide Credit, Inc. (NCI), for $44 million. The deal (a carve-out/divestiture) expands TSI's accounts receivable management and customer-relationship-management capabilities and grows its global operations (U.S., India, Philippines), adding approximately 2,300 employees.

SNH Capital Partners acquired Universal Background Screening and merged it with its existing portfolio company PeopleFacts to create a combined national background-screening platform operating under the Universal brand. The transaction (financial terms undisclosed) is supported by financing from WhiteHorse Capital (H.I.G. Capital affiliate) and aims to scale operations, expand product capabilities and accelerate national growth.

Patrol Protect Secure (PPS), a security platform formed by Mangrove Equity Partners and Sunlake Capital, has acquired JBM Patrol and Protection Corp., a contract security provider operating in Wisconsin, Minnesota, Iowa and Tennessee. The deal facilitates founder Jim Mankowski's retirement and represents PPS's first add-on as it pursues a roll-up strategy to build a national contract security platform.

Southfield Capital has partnered with Protos Security, a tech-enabled managed security services provider, in a control investment to support the company's next phase of growth. Protos' co-founders Chris Copenhaver and Patrick Henderson will remain in leadership roles; Monroe Capital provided debt financing and Pepper Hamilton served as legal counsel to Southfield. The investment will accelerate Protos' software development and expansion into new markets while leveraging its large vendor network and enterprise client base.

Authority Brands, a home-services franchising platform backed by funds advised by Apax Partners, agreed to acquire Clockwork, Inc. and certain affiliates (owner of Benjamin Franklin Plumbing, Mister Sparky and One Hour) from Direct Energy Group (a Centrica plc subsidiary). The add-on deal — expected to close in the first half of 2019 — expands Authority Brands' portfolio and doubles its system revenue to over $1 billion.

TCC, a Los Angeles–based technology and services provider and portfolio company of private investment firm VSS, has acquired uConfirm, an independent income and employment verification provider headquartered in Woodstock, Georgia. The add-on acquisition is intended to expand TCC's tax credit, HR and verification service capabilities; financial terms were not disclosed.

Atlanta-based franchisor Premium Franchise Brands acquired Intelligent Office, a virtual-office and executive suite franchisor, including its 59 North American locations. The deal expands PFB's portfolio of B2B service brands and gives franchisees access to Intelligent Office's reception, virtual assistant and turnkey office solutions.

HaystackID, a Knox Capital-backed eDiscovery platform, acquired eTERA Consulting and will fully integrate eTERA's team into the combined business. Senior leadership from eTERA reinvested alongside additional investment from Knox Capital, ORIX Mezzanine & Private Equity, Maranon Capital, L.P., and Baird Principal Group to support the combined company's expansion of eDiscovery, forensics, and managed review capabilities.

Alberta Investment Management Corporation (AIMCo) agreed to buy a minority stake in London-based Davies Group from majority owner HGGC, with HGGC retaining majority ownership. The investment provides Davies with long-term institutional capital to support continued organic growth and expansion; the company has more than doubled revenues to $150 million and employs roughly 1,700 people across the UK, Ireland, Bermuda, the US and Canada.

Gauge Capital has made a strategic investment to recapitalize TVC Enterprises, a market-leading provider of legal and value-added services to commercial truck drivers. The investment will support TVC's plans to accelerate market penetration and expand its service offerings; Gauge partners Tom McKelvey, James Jackson and Reid Barnett have joined TVC's board.

PennSpring Capital, a lower middle market private equity firm, has acquired Securus Contact Systems, a Portland-based provider of virtual receptionist and call center services. The founders remain in place with meaningful equity, and PennSpring intends to invest in the company's proprietary platform and pursue add-on consolidation opportunities.

Salt Creek Capital, a San Francisco Bay Area-based private equity firm, acquired the lawn- and snow-related assets of Beauchamp Lawn & Snow Service, Inc., a Brighton, Michigan provider of commercial grounds maintenance, landscape installation and snow removal. The transaction facilitates a founder succession/exit while positioning Beauchamp for growth under new leadership and Salt Creek’s platform strategy.

Epiq has acquired Garretson Resolution Group (GRG), a tech-enabled provider of mass tort, class action and high-volume legal dispute resolution services. The acquisition expands Epiq's mass tort and class action capabilities, bringing GRG's expertise and bench of specialists into Epiq's global legal services platform.

Greybull Stewardship has completed a buyout of ProHome International, a Wichita-based provider of third-party quality assurance and warranty management for post-construction. Terms of the transaction were not disclosed. Greybull said it will support ProHome's growth across the United States and internationally.

Boston-based private equity firm Nonantum Capital Partners has acquired ProVest Holdings, LLC, a Tampa-based legal support services provider, from Prairie Capital III. The transaction represents Prairie's successful exit and Nonantum's first acquisition, giving Nonantum a platform in outsourced service-of-process and related mortgage/consumer-credit support services.