NewswireToday - /newswire/ -
Louisville, KY, United States, 2011/01/05 - Tailwind Capital Partners announces the closing of the sale of Trover Solutions, Inc. to ABRY Partners, LLC, a private equity firm out of Boston, MA.
The company will continue under the name Trover Solutions and maintain the same commitment to clients through producing superior outcomes and maintaining high standards of quality.
Rob Bader, Chief Executive Officer of Trover said, “I am looking forward to the next chapter of our future with ABRY Partners. They have a long history of success at blending their capital and investment expertise with experienced operators to build strong and growing businesses. We thank Tailwind for its support over the past six years and look forward to this new partnership to help us expand on the Trover platform and bring new cost containment solutions to our customers. The senior management team and I look forward to working closely with ABRY to continue growing and developing Trover.”
Geoffrey Raker, Managing Director at Tailwind, said, “We appreciate the opportunity to partner with Trover management in acquiring Trover in 2004, and in growing and expanding the business during the past six years. The successful expansion of the business has generated exceptional returns for our investors as well as providing the opportunity for continued growth in other healthcare payor cost containment services following the transition to ABRY ownership.”
Hilary Grove, a Partner with ABRY said, “The environment for insurance services is becoming increasingly complex. We believe Trover’s outstanding management team, leading technology, and data-driven approach uniquely position the company to bring additional efficiencies to the market. We are excited to combine our significant capital with our expertise in healthcare and insurance processing businesses, to help Trover expand the critical solutions it provides to all types of insurance payors.”
About Trover Solutions, Inc.
Trover Solutions, Inc. (troversolutions.com) is a leading independent provider of comprehensive cost containment services and software to the private healthcare payor and property and casualty industries. Among the cost containment services provided by Trover are insurance subrogation, overpayments recovery, clinical bill auditing and litigation management.
About Tailwind Capital
Tailwind Capital (tailwind.com) is a leading private equity firm investing in growth-oriented middle market companies in healthcare and business and communications services. Tailwind partners with management teams to build value through internal growth, acquisitions, and operational and strategic initiatives. Representative investments include Aircast, SDI Health, Freedom Innovations, Versapharm, Nautilus Neurosciences, TowerCo, and Optimal Solutions.
About ABRY Partners, LLC
Based in Boston, Massachusetts, ABRY Partners (abry.com) enjoys a position as one of the most experienced and successful information, media and communications focused private equity investment firms in North America. Since 1989, ABRY Partners has completed over $21 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in more than 500 media and communications properties. ABRY Partners has extensive experience in healthcare and insurance services sectors, through its investments in HealthPort, Gould & Lamb, Automated HealthCare Solutions, Gateway EDI, Executive Health Resources, HealthTrans, and Orion HealthCorp.