Keais Records Service LLC, a portfolio company of The CapStreet Group, said July 6 it has closed its merger with Second Image National Inc. Financial terms weren’t announced. Second Image provides document retrieval, storage and organization services to the insurance and legal industries. Healthcare Growth Partners LLC, advised Keais on the transaction. Willkie, Gallagher, & Farr LLP served as legal counsel to Keais and CapStreet, while Clark and Trevithick acted as legal counsel to Second Image.
July 06, 2016 07:00 AM Eastern Daylight Time
HOUSTON–(BUSINESS WIRE)–Keais Records Service, LLC (“Keais”) announced today it has completed a merger with Second Image National, Inc. (“Second Image”), a California-based provider of technology enabled document retrieval, storage and organization services to the insurance and legal industries.
Founded in 1975 and headquartered in Houston, Keais is a national provider of outsourced document retrieval services. Keais’ services are primarily used by insurance carriers and law firms that must retrieve medical records and other supporting documents to verify claim benefits or as supporting evidence in various legal processes.
With the merger, the combined company will have expanded capacity along with an industry leading technology and information security platform to serve current and future customers.
“This merger will materially impact Keais’ ability to improve cycle times for our claims business on the west coast and advance our lean forward technology platform,” said Newton Ross, CEO, Keais. “The combined company is now the clear market leader in records retrieval for turnaround time, technology and information security. We look forward to bringing even better service to our insurance carriers and legal sector customers.”
“Culturally and strategically, Keais and Second Image are natural fits. Merging allows the combined companies to provide the absolute best technology and services for our customers across the United States and to help insurance companies and law firms better mitigate their claims and minimize fraud,” commented Norm Fogwell, president, Second Image.
Keais is a portfolio company of The CapStreet Group (“CapStreet”).
“We are very excited to complete the Keais merger with Second Image. The transaction expands our national footprint, and will enable us to bring best in class service to our customers. Both management teams did an excellent job bringing this deal to its conclusion, and we look forward to continuing our buy and build strategy with Keais,” said Neil Kallmeyer, managing partner, CapStreet.
Healthcare Growth Partners, LLC, advised Keais on the transaction. Willkie, Gallagher, & Farr LLP served as legal counsel to Keais and CapStreet, and Clark and Trevithick acted as legal counsel to Second Image.
Founded in 1975 and headquartered in Houston, Keais is a national provider of outsourced document retrieval services for the legal and insurance sectors. www.keais.com
ABOUT SECOND IMAGE
Second Image National combines leading edge technology and excellent customer service to deliver subpoena, record retrieval, and document management services to insurance companies, law firms, and corporations throughout all 50 states.
ABOUT THE CAPSTREET GROUP
The CapStreet Group is a Houston-based private equity firm founded in 1990 that invests in owner managed, lower middle market companies headquartered in Texas and surrounding states, with a particular emphasis on companies headquartered in the greater Houston area. CapStreet targets companies operating in the business services, industrial distribution, and industrial manufacturing sectors and partners with management to accelerate growth and improve profitability. For more information, visit The CapStreet Group website, www.capstreet.com.