William Blair & Company acted as exclusive financial advisor to Risk Management Solutions, Inc., a portfolio company of KRG Capital Partners, in connection with its sale to York Risk Services Group, Inc., a portfolio company of ABRY Partners.
Risk Management Solutions (d.b.a. Avizent) is the only fully integrated national risk management provider serving the workers’ compensation, auto, and general liability segments. The company’s innovative service offering includes claims management, medical managed care services, network PPO access (including diagnostic scheduling services), and alternative risk solutions. Unlike most of its competitors that outsource many of these services, Avizent performs nearly all of its services in-house, creating a truly “integrated” product offering. Avizent’s customers include sophisticated self-insured employers, government entities, self-insured groups and associations, and national and regional commercial insurance carriers.
Founded in 1996, KRG Capital Partners is a Denver-based private equity firm with $4.3 billion of cumulative capital either deployed or available for future investment, which includes about $1 billion deployed since inception on behalf of equity co-investors. KRG specializes in acquiring and recapitalizing unique and profitable middle-market companies. The firm seeks investment opportunities where it can partner with owners and operating managers who are committed to expanding their companies and becoming industry leaders.
York Risk Services Group, Inc., a portfolio company of ABRY Partners, is a premier provider of claims-handling, specialized loss adjusting, managed care, pool administration, loss control, and other risk management and insurance services nationwide. York provides risk management and managed care solutions to a wide variety of strategic partners, including insurance carriers, self-insureds, brokers, wholesalers, MGAs, programs, risk pools, and public entities. York delivers customized claims solutions for all lines of business, including property, liability, product liability, ocean and inland marine, environmental, transportation and logistics, construction, and workers’ compensation. York is based in Parsippany, New Jersey, and has nearly 1,200 employees nationwide.
ABRY Partners is a private equity investment firm focused solely on media, communications, and business and information services investments. Since its founding, ABRY has completed more than $27.0 billion of leveraged transactions and other private equity, mezzanine, or preferred equity placements, representing investments in about 450 properties.
William Blair was engaged by KRG to pursue a sale of the company. In connection with the engagement, William Blair created a management presentation, marketed the company to a targeted set of potential strategic acquirers, coordinated the due diligence process, and helped negotiate key terms of the definitive transaction agreement.
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