Compass Investment Partners creates a national platform in the outsourced document management services and data solutions space
August 13, 2012 – Compass Investment Partners Fund, L.P. (“Compass Investment Partners”), a middle market private equity fund focused on the Business Information and Outsourced Services sector, has completed the acquisition of PSC Info Group (“PSC”), a leading national provider of innovative, technology-enabled solutions and revenue acceleration tools that streamline the collection of consumer payments. PSC will be combined with DANTOM Systems (a Compass Investment Partners portfolio company), a leading provider of outsourced document management services and customized data solutions to the accounts receivable management and RCM markets.
The newly combined company will be named Revspring, which evokes the fundamental promise of the new brand: helping customers accelerate revenue. Revspring’s core service offering includes data hygiene and analytics, secure document creation and delivery, multi-channel communications, electronic billing and archival services and online payment tools, all while ensuring compliance with regulatory guidelines. Revspring facilitates over one billion customer interactions annually and serves a large and diverse customer base across the healthcare, financial services, home services and other end-markets.
Revspring’s headquarters will be in Wixom, Michigan, with a national footprint of strategic operational locations in Michigan, Pennsylvania, Nevada, Ohio and New York. Tim Schriner, current CEO of DANTOM Systems, will serve as President and CEO of the combined platform. Joseph J. Greco, Founder and CEO of PSC Info Group, is also an investor in the newly created company and will serve as Chairman of the Board.
Joe Greco, Chairman of Revspring said: “We are extremely excited to partner with Compass Investment Partners and DANTOM Systems to form Revspring. The combination of DANTOM and PSC is a highly strategic transaction that creates a powerful leader in the marketplace and provides scale and a national footprint to serve our growing customer base.” Tim Schriner, CEO of Revspring added: “Revspring will be known as a leader in providing a range of technology-enabled solutions around time-sensitive communications, payments and analytics. We will continue to aggressively invest in industry-leading technology, data security and regulatory compliance services under the new platform.”
Customers of DANTOM and PSC Info Group should contact their respective sales representatives for more information on the combination. The businesses will continue to operate without interruption.
“This transaction highlights our sector-focused platform investment approach at Compass Investment Partners,” said Scott Marden, Managing Partner of Compass Investment Partners. “We look forward to partnering with Tim, Joe and the entire management team to implement the growth strategy.” PSC Info Group is the second investment for Compass Investment Partners within its business process outsourcing sector focus. Justin Lipton, Managing Director of Compass Investment Partners, added: “Our initial thesis was to build the leading company in the accounts receivable management market with an increased focus on the healthcare end-market and a continued migration towards data and electronic services. This combination is a significant step forward for the company’s long-term plan.”
William Blair & Company L.L.C. and King & Spalding LLP advised PSC Info Group on the transaction. Sidley Austin LLP served as legal counsel to DANTOM Systems.
DANTOM Systems, Inc. is the premier provider of value-added business process outsourcing solutions serving the accounts receivable management and revenue cycle management sectors. DANTOM’s national client base of over 900 organizations includes the nation’s largest collections agencies, hospitals, medical practices, cable companies and utilities. Established in 1997, with headquarters in Wixom, MI, DANTOM has more than 100 years of combined experience in secure data transfer, integrated data analytics, document creation and delivery, electronic archival and online bill payment. DANTOM’s product and service offering provides customized accounts receivable management and revenue cycle management solutions to improve efficiency, reduce costs and increase cash flow. For more information please visit: www.dantomsystems.com
About PSC Info Group:
Headquartered in Valley Forge, PA, and with additional processing facilities in Reno, NV, PSC Info Group is a national provider of technology-enabled, integrated multi-channel customer communication solutions that facilitate billing, payments and revenue acceleration. With 30 years of experience, PSC provides a broad range of dynamic information and document distribution services including web delivery, email notification, SMS messaging, automated telephony and highly personalized printing and mailing capabilities that enable clients to increase their cash flow, reduce administrative costs and improve their customers’ experience. For more information please visit: www.pscinfogroup.com
About Compass Investment Partners:
Compass Investment Partners is a New York based private equity firm focused on investing in growth-oriented, middle-market companies across the Business Information and Outsourced Services markets in North America. The fund seeks to invest in proven, profitable businesses that provide their customer bases with critical information, proprietary content and value-added outsourced services. Targeted sectors for investment include: B2B information management, marketing services, business process outsourcing and knowledge services. For more information please visit: www.compasspartners.com
For Information Please Contact:
President and CEO
Joseph J. Greco
Chairman of the Board
Scott C. Marden
Compass Investment Partners
Compass Investment Partners