Keais Records Service LLC, a portfolio company of The CapStreet Group, has acquired California-based National Legal Services LLC, a provider of medical records and summary services to insurance carriers and law firms. No financial terms were disclosed. Cleary Gull Inc advised NLS on the transaction while Willkie Farr & Gallagher LLP served as legal counsel to Keais and CapStreet. And, Stradley Ronon Stevens & Young LLP acted as legal counsel to NLS.
HOUSTON–(BUSINESS WIRE)–Keais Records Service, LLC (“Keais”), announced today it has completed the acquisition of California-based National Legal Services, LLC (“NLS”).
Founded in 1975 and headquartered in Houston, Keais is a national provider of outsourced information retrieval. Keais’ services are primarily used by insurance carriers and law firms who need to retrieve medical records and other supporting documents to verify claim benefits or as supporting evidence in various legal processes.
“NLS and its subsidiaries have a well-deserved reputation for speed, quality and customer service. Keais looks forward to building upon that strong foundation by leveraging our technology platform to further enhance the customer experience at NLS. We are also very excited about the commitment and talent of the employees at NLS and know there are opportunities to learn from them as we bring these two companies together,” said Newton Ross, CEO of Keais.
NLS and its subsidiaries are providers of medical records and summary services to insurance carriers and law firms. They provide a full range of services, including medical document retrieval, online services for document management and subpoena preparation and servicing. Additionally, NLS brings an expert witness service to Keais.
“Keais had an extraordinary 2016 and first quarter of 2017. Not only were we able to complete the acquisition of NLS, we also acquired LegalPartners and completed a merger with Second Image National. Throughout this active growth phrase, we have remained committed to one tenet: every thing we do at Keais is in service of the customer. We are now able to serve our customers faster, with reduced costs and with the highest level of accuracy,” added Ross.
Keais is a portfolio company of The CapStreet Group (“CapStreet”). “The past two years at Keais have really demonstrated why they are the leader in the information retrieval market. The team has maintained a relentless focus on the customer, grown organically, invested in industry leading technology, and completed three acquisitions. Keais is a fully developed platform, and we expect to see the company continue to expand through future M&A and continued investments in technology.” said Tom Caughlin, principal at CapStreet.
Cleary Gull Inc. advised NLS on the transaction. Willkie Farr & Gallagher LLP served as legal counsel to Keais and CapStreet, and Stradley Ronon Stevens & Young, LLP acted as legal counsel to NLS.
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
The CapStreet Group (CapStreet) 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 industrial distribution, industrial manufacturing and outsourced business service sectors and partners with management to accelerate growth and improve profitability. For more information, visit the CapStreet website, www.capstreet.com.