Billhighway, which is backed by Lovell Minnick Partners, has acquired Impexium, a membership management platform. No financial terms were disclosed.
TROY, Mich., Nov.23: Billhighway, the leading financial and performance management solution for member-based organizations, has acquired Impexium, an association management solution, as part of a strategy to expand solution offerings and better serve the Association market. Lovell Minnick Partners invested in Billhighway in October 2019 to support the company’s growth strategy and continued product development. For more than twenty years, Billhighway has been focused on providing financial management solutions for component-based organizations. Joining forces allows Billhighway and Impexium to better serve customer needs, develop innovative product solutions, and expand capabilities to additional market segments.
“Impexium is an extraordinary company, with an amazing product, experienced team, and an incredibly passionate user community. We look forward to working together to bring new and impactful solutions to the market. At our core, we’re focused on building community and delivering transformative solutions that help our customers make an impact for their membership. This is an opportunity for us to continue to bring that vision to fruition and further the good work of member-based organizations,” said Billhighway CEO, Tom Bomberski.
The acquisition allows Billhighway to expand on their current AMS integration strategy to bring new solutions to market for component-based associations. These integrations with the Billhighway platform allow associations to increase the performance of their components to better serve members and increase revenue, while simultaneously increasing visibility into that performance across their entire component ecosystem. Billhighway and Impexium currently have an existing integration that is serving component-based associations. There are plans to enhance this integration in 2021 to deliver even more value for joint Impexium/Billhighway clients.
“Today marks the beginning of an exciting new chapter for Impexium, one where we will be able to accelerate our mission and help more associations diversify revenue streams, enhance member engagement strategies and accelerate the ROI of their technology investments,” said Barry Malek, Founder and CEO of Impexium. “We are thrilled to embark on this journey with Billhighway and deliver more value to customers faster with a broader and deeper membership-management platform, that includes even more powerful financial capabilities.”
While Billhighway focuses on delivering association performance solutions to component-based organizations to better serve members and increase the ROI of their components, Impexium will continue to serve member-based organizations regardless of whether they have geographical components or not.
There are certain segments of our markets that need better solutions and more options to support their operations,” said Marc Hehl, Vice President of Growth and Operations for Billhighway.
“This partnership is just one element of Billhighway’s best-of-breed strategy. We continue to be committed to all of our great AMS and member management partners equally and without preference – it will always be about what options and solutions are best for the customer, and there are many great AMS solutions, all offering various strengths and capabilities.”
Got Chapters? For over 20 years Billhighway has provided component-based organizations the tools to increase component performance and ROI while creating data visibility across your entire organization. This empowers you and your components to better serve members and grow your organization.
Smarter, Simpler Membership Management: Impexium’s 100% cloud-based membership management platform supports the full range of association business and administrative activities. By combining enterprise-level functionality with the benefits of a software-as-a-service model, we help associations transform their business by serving members more intelligently and profitably, strengthening the alignment of strategies and operations, creating value for key relationships, and reducing the cost, time, and risks of chapter, membership, and technology initiatives.
Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, we have completed more than 50 portfolio company investments.