Harris Williams Advises basys on its Sale to Five Arrows Capital Partners and BPOC
07 Janeiro 2022 - 1:02PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised basys, a portfolio
company of WindRose Health Investors, LLC (WindRose), on its sale
to Five Arrows Capital Partners (FACP) and BPOC. basys is a leading
provider of benefits administration software to multiemployer plan
fund offices and third party administrators across the United
States and Canada, with a unique focus on the Taft-Hartley sector.
As part of the transaction, FACP and BPOC merged basys with their
portfolio company, ISSI, to form an industry leader for innovative
multiemployer benefits solutions. The transaction was led by Sam
Hendler, Erik Szyndlar, Dan Linsalata, Colin Chapin, and Owen
Hughes of the Harris Williams Technology Group and Nick Owens of
the firm’s Healthcare & Life Sciences (HCLS) Group.
“We are grateful for the opportunity to work with WindRose,
basys CEO Jenny Morgan and the basys team to help identify the
company’s next home. Over its three-decade history, basys has
consistently provided best-in-class software solutions that serve
the needs of a highly complex end market, while delivering
sustainable and profitable growth,” said Dan Linsalata, a director
at Harris Williams. “The sale to FACP and BPOC represents the next
chapter in strong investor interest in the growing, yet
underserved, multiemployer and Taft-Hartley sectors.”
“The basys transaction further positions Harris Williams as the
go-to advisor for businesses serving the self-insured employer
benefits sector. Employer groups continue to demand solutions like
basys that provide better access to healthcare benefits information
to employees while reducing overall healthcare costs and risk. The
collaboration of our Technology Group and HCLS Group to tell the
basys story to a knowledgeable investor universe has helped deliver
an exciting outcome,” said Nick Owens, a director at Harris
Williams.
Since 1977, basys has specialized in benefits administration
software for the Taft-Hartley community, providing integrated
technology solutions that help trust fund offices, national
multiemployer plans, and third party administrators accurately and
efficiently serve millions of members across the U.S. and Canada.
basys software suites, web-based portals, and hosting services
deliver cost-effective and reliable health and pension benefits
processing, fund office administration, reporting, and member
service on a platform built for data security, regulatory
compliance, and a lower total cost of ownership.
WindRose makes equity investments in companies that operate
within the services sectors of the healthcare industry. The firm
focuses on companies with profitable business models and a
demonstrated ability to deliver cost-effective solutions. WindRose
is based in New York City and invests in companies throughout the
United States.
FACP is the North American corporate private equity arm of
Rothschild & Co’s Merchant Banking business. FACP is focused on
investing in middle market companies with highly defensible market
positions, strong management teams, business models with high
visibility of organic unit volume growth and strong free cash flow
conversion, and multiple operational levers that can be used to
unlock latent value. Sectors are limited to data and software,
healthcare, and technology-enabled business services.
BPOC is a Chicago-based private equity management firm founded
in 1996 to invest in middle market buy-out transactions,
recapitalizations and growth platforms exclusively in the
healthcare industry. BPOC has structured, managed and realized
investments on behalf of institutional and individual investors for
over two decades. BPOC targets investments in healthcare companies
with up to $20 million in EBITDA with a focus on four sectors:
providers, outsourced services, products and distribution, and
pharmacy and pharma services.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Technology Group advises leading private and
public companies, founders, and private equity, growth equity and
venture capital firms on mergers and acquisitions and
capital-raising transactions worldwide. The Technology Group has
deep domain expertise in software and technology-enabled services
and dedicated focus areas across a variety of vertical software
applications and end markets. For more information on the
Technology Group and its recent transactions, visit the Technology
Group’s section of the Harris Williams website.
The Harris Williams HCLS Group has experience across a broad
range of sectors, including healthcare providers; payors and payor
services; outsourced pharmaceutical services; medical device supply
chain; healthcare IT; and pharmacy. For more information on the
HCLS Group and other recent transactions, visit the HCLS Group’s
section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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