Tonka Bay Equity Partners has made an investment in Professional, a provider of first- and third-party accounts receivable management services. No financial terms were disclosed.
MINNETONKA, MN (July 26, 2021) — Tonka Bay Equity Partners LLC (“Tonka Bay”) has invested in Professional, a leading technology-enabled provider of first- and third-party accounts receivable management services.
Professional delivers value-added accounts receivable management services to their healthcare, governmental, and utilities client base. Professional combines innovative proprietary technology, industry-leading compliance, and best-in-class customer service.
Scott Purcell, President of Professional, said “we earn long-term business relationships with our clients because we offer outstanding integrated technology, a leading compliance processes, and an omni-channel strategy that delivers value to our clients.”
“We are excited to join forces with Tonka Bay to fuel our efforts of expanding Professional’s reach in the industry and provide greater value to our existing clients,” said CEO Joe Hawes.
Regarding the new business relationship with Tonka Bay, Purcell said “we are excited about the opportunity to accelerate growth with Tonka Bay’s partnership. Tonka Bay brings expertise in growing successful businesses, and also a culture that fits very well with our organization.”
Steve Soderling, Partner at Tonka Bay, stated “We are excited to partner with the deep and talented team at Professional. They have built an impressive company with a scalable technology platform which we and the team are eager to take to the next level. We are excited to help further expand their geographical reach and customer base.”
Professional makes the lives of providers and consumers easier by incorporating innovative tools, behavioral science and analytics to improve financial engagement and resolve financial obligations. With more than 85 years of experience, Professional is an industry leader in accounts receivable management, offering services under two service lines, Professional Credit services and Ensource early-out self-pay services, that yield higher than expected results while treating consumers with the utmost respect. More information at professionalcredit.com.
About Tonka Bay Equity Partners
Based in Minnetonka, Minnesota, Tonka Bay Equity Partners is a private investment firm that acquires and invests in growth-oriented businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information call (952) 345-2036 or visit tonkabayequity.com.