CIP Capital invests in leading provider of outsourced human resources solutions
January 7, 2013 – Compass Investment Partners Fund, L.P. (“CIP Capital”) has completed the acquisition of CoAdvantage Corporation (“CoAdvantage” or the “Company”). CoAdvantage is a leading Professional Employer Organization (PEO) that offers small and mid-sized businesses a comprehensive package of outsourced human resources solutions enabling them to reduce their administrative burden, ensure compliance with employer regulations, and gain access to affordable employee benefits. The Company integrates payroll and tax processing, employee benefit plan administration, risk management, government compliance and other human resources services into a single vendor solution that is extremely efficient and effective. CoAdvantage is based in Orlando, FL and maintains additional offices across Florida and Texas.
“The CoAdvantage team is extremely excited to partner with CIP Capital for the next stage of the Company’s growth,” said Mike Maseda, CEO of CoAdvantage. “We view CIP Capital as a value-added partner who will provide strategic guidance, resources and capital to accelerate our growth into new markets in addition to increasing our investment in new value-added services and technology for our client base. 2013 will be an exciting year for our clients and employees.” The Company also announced plans to enter the Palm Beach, Austin and San Antonio markets in early 2013.
“CoAdvantage’s business model represents a core focus of CIP Capital’s targeted middle-market investment strategy in the Business Information and Outsourced Services market,” said Scott Marden, Managing Partner of CIP Capital. “We believe adoption of the PEO model by small businesses will continue to increase based on the ever changing compliance and regulatory environment.” CoAdvantage will be the third platform investment for CIP Capital over the past year and the first within its Human Resources Outsourcing (HRO) sub-sector strategy. Justin Lipton, Managing Director of CIP Capital, added: “We look forward to working with Mike and the entire management team to continue to scale the CoAdvantage platform by entering several new markets over the next few years. CoAdvantage will continue to build industry-leading solutions to assist small businesses in addressing their ongoing HR, insurance and employee benefits needs.”
Madison Capital Funding LLC, TIAA and Fifth Street Finance Corp. provided debt financing for the transaction. Sidley Austin LLP served as legal counsel to CIP Capital.
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Managing Director, CIP Capital
Managing Director, CIP Capital
2012 was a very pivotal and exciting year for our firm and our team. We entered the year having just completed our first platform investment, DANTOM Systems. In May, we completed our second platform investment, I DRIVE SAFELY. In August, we made a substantial follow-on investment in DANTOM Systems to complete the transformative acquisition of PSC Info Group and subsequently re-named the combined company RevSpring. Finally, on December 31, we completed our third platform investment, CoAdvantage. We are all very excited about our growing portfolio and thankful to count many leading financial partners as our Fund investors.
We are also very pleased to announce the promotion of Bobby Kelly to Managing Director effective January 1, 2013. We would like to thank Bobby as well as the many others, including the members of our operating network and advisory board, who gave us tremendous support throughout 2012.
As of January 1st, 2013, we will begin using CIP Capital as our firm name.
As we look forward to new prospects for growth in 2013 and beyond, we are excited to announce that we have moved into new space:
99 Park Avenue, Suite 1560
New York, NY 10016
CIP Capital creates a national platform in the outsourced document management services and data solutions space
August 13, 2012 – Compass Investment Partners Fund, L.P. (“CIP Capital”), a middle market private equity fund focused on the Business Information and Outsourced Services sector, has completed the acquisition of PSC Info Group (“PSC”), a leading national provider of innovative, technology-enabled solutions and revenue acceleration tools that streamline the collection of consumer payments. PSC will be combined with DANTOM Systems (a CIP Capital portfolio company), a leading provider of outsourced document management services and customized data solutions to the accounts receivable management and RCM markets.
CIP Capital invests in leading nationwide provider of online driver training solutions
May 29, 2012 – Compass Investment Partners Fund, L.P. (“CIP Capital”) has completed an investment in I DRIVE SAFELY, LLC (“I Drive Safely” or the “Company”). I DRIVE SAFELY is the leading provider of online driver training solutions serving teenagers, adults, senior citizens and corporations. The Company’s core product offering includes driver improvement programs, first-time driver education courses and corporate training solutions in addition to other online training programs and data services. I DRIVE SAFELY was founded in 1998 and serves customers across all fifty states in the U.S. and Canada.
CIP Capital acquires leading provider of outsourced solutions to the accounts receivable management industry
October 24, 2011 - Compass Investment Partners Fund, L.P. ("CIP Capital") has completed the acquisition of DANTOM Systems, Inc. ("DANTOM" or the "Company"). DANTOM is a leading provider of outsourced document management services and customized data solutions to the accounts receivable management industry. The Company's core service offering includes secure document creation and delivery, data hygiene and analytics, electronic archival services and online payment portals, all while ensuring compliance with regulatory guidelines. DANTOM serves a large and diverse customer base across the healthcare, financial, home services and government end-markets.