eSolutions Has Completed a Minority Recapitalization with WestView Capital Partners
Brentwood Capital Advisors LLC is pleased to announce that it served as the exclusive financial advisor to eSolutions, Inc. (“eSolutions, or the‚“Company) in a minority recapitalization transaction that closed October 31, 2011. Headquartered in Olathe, Kansas, eSolutions is a provider of revenue cycle management software-as-a-service. The Company’s products assist healthcare providers in automating and enhancing workflow with regard to claims review, editing, and denials/appeals management, as well as eligibility verification and payor connectivity. The Company has over 1,100 clients comprised of hospitals, home health and hospice providers, skilled nursing facilities and durable medical equipment providers.
WestView Capital Partners (“Westview”) led the equity investment, which included co-investment by Brentwood Capital Partners, L.P. Debt financing was provided by Abacus Finance Group, LLC. The transaction provides eSolutions with resources to support the Company’s growth strategy and enables its shareholders to achieve significant liquidity, while maintaining majority ownership.
“We are happy to be partnering with WestView Capital Partners. Their knowledge of our industry and in working with companies just like ours will enable us to continue our strong growth, increase our product offering and aggressively compete to expand our market share, said Bill Creach, eSolutions Chief Executive Officer. “We are very pleased to have worked with Brentwood Capital Advisors as our exclusive financial advisor. The result of their process exceeded our expectations and achieved all of our goals. We trust their advice and hope to continue our close relationship in the years ahead.”
“eSolutions specialized product offering, strong customer base, rapid growth, high customer retention and recurring revenue make it an attractive opportunity for investors,“ stated Tom Wylly, Senior Partner at Brentwood Capital Advisors. “We are pleased to have served as their exclusive financial advisor in this important transaction.”
Founded by Bill Creach in 1999 in Olathe, Kansas, eSolutions is a leading provider of revenue cycle management solutions to over 1,100 clients comprised of 3,600 healthcare facilities, representing more than 500 hospitals, 2,000 home health and hospice locations and several hundred other providers in all 50 states, Puerto Rico and the U.S. Virgin Islands.
About Brentwood Capital Advisors LLC
Brentwood Capital Advisors LLC, founded in 1999, is a privately held investment bank headquartered in Nashville, Tennessee, providing mergers & acquisitions and capital-raising advisory services to middle-market companies in healthcare, information technology, financial services and business services. BCA has served as exclusive financial advisor in over 50 successfully closed transactions in these sectors. For more information, visit www.brentwoodcapital.com.
Westview Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market companies, manages over $500 million in capital in two funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in a wide range of industries including healthcare services, business and technology services, software, industrial/manufacturing, and consumer/retail. WestView targets companies with operating profits between $3 million and $20 million with investment sizes ranging from $5 million to $30 million. For more information, please visit www.wvcapital.com.
About Brentwood Capital Partners, L.P.
Formed in June 2009, Brentwood Capital Partners, L.P., is a $15.15 million private equity fund that makes later-stage co-investments with leading private equity firms in control and non-control investment banking transactions in which Brentwood Capital Advisors LLC serves as exclusive financial advisor. The fund’s limited partners are comprised of CEOs and business leaders from across the Southeast.