Thompson Street Capital Partners has acquired Receivables Management Partners. The seller was LaSalle Capital Group. Financial terms weren’t announced. Receivables Management provides healthcare accounts receivable management services. The deal closed July 27, said Harris Williams which announced the sale. Patrick Hanraty and David Allebach, of Harris Williams, advised Receivables Management.
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Receivables Management Partners (RMP), a leading provider of healthcare accounts receivable management services, to Thompson Street Capital Partners (Thompson Street). RMP was a portfolio company of LaSalle Capital Group (LaSalle). Harris Williams & Co. acted as the exclusive advisor to RMP. The transaction closed on July 27, 2012 and was led by Patrick Hanraty and David Allebach from the firm’s Philadelphia office.
“RMP has built a tremendous platform in the healthcare accounts receivable management market through a commitment to client service, operational excellence and a broad and expanding portfolio of revenue cycle management services. This transaction is evidence of the continued strong interest in the outsourced healthcare revenue cycle management sector, and we look forward to tracking RMP’s continued success,” said Patrick Hanraty, a managing director with Harris Williams & Co.
RMP, headquartered in Greensburg, IN, is a leading provider of outsourced healthcare accounts receivable management services serving more than 3,000 hospitals and physician groups throughout seven states in the Midwestern U.S. RMP helps its clients manage the revenue cycle by delivering best-in-class primary collections, early-out and pre-collection, payment monitoring and claims management services.
LaSalle is a middle market private equity firm based in Chicago with approximately $330 million of committed capital across two funds. LaSalle invests in and helps grow lower-middle market businesses, with a focus on the outsourced business services, value-added distribution and manufacturing, and food and beverage sectors.
Thompson Street is a St. Louis-based private equity firm with over $800 million in capital under management. Founded in 2000, the firm invests in growing niche-leading service, manufacturing and distribution businesses via recapitalizations, management buyouts, corporate divestitures, family businesses in transition and take-private transactions.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
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