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NexPhase Capital Announces Sale of Coverage Technologies to Thomas H. Lee Partners

NEW YORK, Sept. 14, 2020 /PRNewswire/ — NexPhase Cash, LP (“NexPhase” or the “Company”), an operationally centered private equity agency and sub-advisor to the Moelis Capital Partners (“MCP”) Possibility Funds, these days announced that it has entered into a definitive settlement to offer Insurance policies Systems, LLC (“Insurance policies Systems” or “InsTech” or the “Organization”), a company of profits and regulatory automation alternatives for the insurance and financial expert services industries, to Thomas H. Lee Associates (“THL”).

Established in 1995 and headquartered in Colorado Springs, CO, Insurance coverage Systems has served transform the insurance policies and monetary solutions industries by means of its modern gross sales and regulatory profits automation remedies, which have served money pros and advisors improved provide their buyers. The Company’s carriers and distributors gain from InsTech’s technological innovation, velocity to market place shipping, and fantastic purchaser services. The distinctive architecture and adaptability of InsTech’s product sales answers deliver front and back-office configurability and usability to assistance many organization procedures, motivate cross-channel development, and evolve with regulatory adjustments.

Via investments in individuals, procedures, and merchandise, NexPhase has labored carefully with InsTech’s administration workforce to travel dynamic advancement of a really digital gross sales lifecycle solution in a single system. NexPhase has also supported the Firm’s efforts to even further extend both of those the FireLight® and ForeSight® solutions, which have presented and carry on to give value to InsTech’s customers and the insurance and financial solutions industries. Given that partnering with the NexPhase staff in 2014, the Enterprise has skilled sizeable development by increasing its carrier and distributor shopper bases.

“In NexPhase, we observed a partner who not only identified the monumental potential of our business, but also introduced the strategic, operational, and marketplace knowledge desired to elevate our place as a spouse the fiscal companies and insurance industries can rely on,” said David Fenimore, Main Govt Officer of Insurance coverage Technologies. “NexPhase’s insight and assistance has been instrumental in the success we have delivered to our clientele and our capacity to meet greater demand from customers in the latest months as more consumers figure out how impactful our remedies can be in driving the efficiency of remote perform. We glimpse forward to creating on this momentum as we partner with THL to capitalize on the a lot of opportunities forward.”

“With an unwavering concentration in the direction of constant enhancement and an ongoing determination to delivering high-high quality solutions and services, the InsTech workforce has set up by itself as a top supplier of digital income methods in the insurance plan and economic services industries,” stated Joel Killion, a Lover at NexPhase. “We are happy of what we have accomplished collectively over the study course of our partnership and are assured that the Company is properly positioned for continued accomplishment.”

“We noticed an option to propel a potent crew and amazing enterprise ahead as they assistance modernize the antiquated techniques across the insurance coverage field,” additional Bob Gartland, a Principal at NexPhase. “In the course of our partnership, InsTech has additional enhanced its motivation to its core business enterprise functionality throughout improvement, implementation companies, and connection management to effectively aid its clients’ strategic initiatives and progress in digitization. We are pretty satisfied with this transaction and think it signifies a wonderful consequence for Insurance policies Systems, THL and NexPhase.”

Phrases of the transaction have been not disclosed. The transaction is topic to the completion of customary closing ailments and any regulatory approvals.

The NexPhase staff has substantial knowledge investing in computer software and solutions organizations. Recent and prior investments consist of, among the other folks, KnowFully Finding out Team, DealerOn, Brandt Facts Services, OmniSYS, Rapid, Within True Estate, SwipeClock, and Mxi Systems.

William Blair & Corporation is performing as exceptional money advisor to NexPhase and the Corporation on this transaction, and Lowenstein Sandler LLP is performing as lawful advisor.

About NexPhase Funds
NexPhase Money, LP is a thematic and operationally-focused personal fairness agency that invests in decreased middle sector expansion-oriented businesses in a few distinct sectors: purchaser, health care, and software & services. The organization associates with businesses that have attained a growth inflection stage and are searching for a price-included lover to assistance navigate the company’s “future phase.” The NexPhase crew has intensive market and operational practical experience and NexPhase’s associates have invested together for almost a decade. The organization has completed almost 60 investments such as add-ons and targets management fairness investments involving $25 million and $75 million. For additional information, you should take a look at www.NexPhase.com.

About Moelis Funds Associates
Moelis Capital Partners LLC, a subsidiary of Moelis Asset Management LP, is a center market place non-public fairness company started in 2007. MCP co-manages approximately $872 million of dedicated non-public equity money with NexPhase Capital. For extra details, make sure you visit www.moelisassetmanagement.com.

About Insurance Technologies
Insurance Systems gives modern sales and regulatory automation methods to the insurance policy and economical providers industries. Providing a suite of built-in product sales answers, from pre-sale capabilities to illustrations and e-software to post-sale expert services, Insurance plan Technologies supplies carriers and distributors the sales abilities and equipment to develop automatic and cohesive product sales encounters for their advisors and customers throughout all lines of insurance policies, retirement and investment decision solutions. The exclusive architecture and overall flexibility of its answers supply entrance and back again-workplace configurability and usability to help several business enterprise strategies, stimulate cross-channel progress, and evolve with regulatory changes. For additional information and facts, you should go to www.insurancetechnologies.com.

About Thomas H. Lee Companions, L.P.
Thomas H. Lee Partners, L.P. (“THL”) is a leading personal fairness firm investing in middle current market progress firms, headquartered mostly in North The united states, exclusively in four sectors: Customer, Fiscal Companies, Health care and Engineering & Enterprise Solutions. We couple our deep sector knowledge with focused internal working resources to transform and create good firms of lasting worth in partnership with administration. Due to the fact 1974, we have raised extra than $25 billion of equity capital, invested in about 150 providers and accomplished a lot more than 400 incorporate-on acquisitions representing an mixture company benefit at acquisition of around $200 billion.  With focused sector and functioning teams, THL provides deep domain expertise and sources to establish good firms by serving to to speed up expansion, make improvements to functions and drive extensive-time period sustainable benefit in partnership with management. For additional details on THL, remember to stop by THL.com.

Contacts

NexPhase
Jonathan Keehner / Kate Thompson / Julia Sottosanti
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Insurance coverage Technologies
Kristin Wills
[email protected]
719-442-6400

Thomas H. Lee Partners, L.P.
Sard Verbinnen & Co
Robin Weinberg/Devin Broda
212-687-8080 

Resource NexPhase Capital