LaSalle Capital Exits Receivables Management Partners

LaSalle Capital Group has sold healthcare-focused accounts receivable management company Receivables Management Partners to middle-market private equity fund Thompson Street Capital Partners. Financial terms of the deal were not released.

PRESS RELEASE

LaSalle Capital Group, L.P. (“LaSalle Capital”) announced the sale of its platform company, Receivables Management Partners, LLC (“RMP”), to Thompson Street Capital Partners (“TSCP”), a middle-market private equity fund based in St. Louis, MO. RMP based in Greensburg, IN is the Midwest’s leading healthcare-focused accounts receivable management company.

In May of 2007, LaSalle Capital a completed a recapitalization of Collection Associates Inc. (“CAI”) along with its owner, Don Horan and Chief Executive Officer, Mark Schabel, forming RMP to execute a Midwestern buy-and-build strategy in the healthcare accounts receivable management industry. Selling the business to a larger capital partner will allow RMP to continue to build the industry’s leading business with a keen focus on technology, client service compliance and exceptional results for its clients. Mark Schabel and the executive management team will continue to lead the company after the sale to TSCP.

RMP has experienced tremendous growth over the last several years, successfully completing five add-on acquisitions. RMP has a diverse customer base, servicing community hospitals throughout the Midwest as well as several of the country’s largest urban hospital systems. Commenting on the sale, Mark Schabel stated, “We appreciate the strategic guidance, management support and acquisition experience that LaSalle Capital has provided to us over the last five years, and are excited to begin a new chapter with TSCP. We believe there is a very bright future for RMP and look forward to continuing to provide industry leading results and service to our customer base.”

In announcing the sale, Nick Christopher, Partner at LaSalle Capital stated, “We achieved great success building this platform, and management leadership was certainly paramount in meeting our strategic objectives. We are excited to have partnered with one of the industry’s best management teams and wish them and TSCP continued success.”