Ontellus Announces Investment by Aquiline Capital Partners
Leading Records Retrieval service provider receives further investment to continue accelerated growth
HOUSTON, TX – January 6, 2020 – Ontellus, a leader in outsourced records retrieval, today announced the completion of an investment in the company by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Aquiline invested alongside The CapStreet Group, LLC, a current investor in the business and management. As part of the transaction, Aquiline provided capital for growth purposes and acquired a majority ownership stake in the company. Financial terms of the transaction were not disclosed.
Ontellus is one of the largest national providers of medical, billing and other claims related records procurement for insurance companies and law firms. Ontellus is recognized for its overall performance, high quality service, fast turnaround times and proven scalability. Aquiline's investment in the company provides resources and capital to support the continued expansion of the company's records retrieval capabilities.
"We're thrilled to join forces with Aquiline and see many ways that Aquiline’s investment and insurance experience will help us grow our company and bring additional services and capabilities to our clients," said Darren Klauser, CEO of Ontellus. "We look forward to working with them as we enter this next chapter."
Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline said, "We are excited to partner with Darren and the Ontellus management team to help them build on Ontellus’ leading industry position. We believe the company is well-positioned to meet growing demand from record requesters and providers for solutions that address numerous challenges related to exchanging records and utilizing claims information in a secure and compliant manner."
Harris Williams served as the exclusive financial advisor, and Wilkie Farr served as legal advisor, to Ontellus. Weil, Gotshal & Manges served as legal advisor to Aquiline.
Ontellus empowers insurance carriers, self-insured corporations and law firms to reduce costs, make informed decisions and accelerate claims resolution. As one of the nation’s largest, privately-held data retrieval and claims intelligence provider, Ontellus leverages decades of experience and cutting-edge technology to deliver impactful products and client-centric services within industry-leading turnaround times.
About Aquiline Capital Partners
Aquiline Capital Partners, founded in 2005 and based in New York and London, is a private equity firm investing in businesses across the financial services sector in banking and credit, insurance, investment management, and financial technology and services. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.
About The CapStreet Group
The CapStreet Group is a Houston, Texas based private equity firm that invests in owner-managed, lower middle market companies. CapStreet targets companies operating in the industrial and outsourced business service sectors, including tech enabled services and software businesses. CapStreet’s approach is to partner with strong management teams with the goal of building out corporate infrastructure, accelerating growth and profitability, and creating long term sustainable businesses. For more information, visit The CapStreet Group website, www.capstreet.com