Travis Pearson, Managing Director of GI Partners, said, "We are proud to partner with Dave Gray and Daxko's highly talented leadership team. In Daxko, they have built a market leader with innovative solutions, loyal customers, and a high-energy, winning culture. We look forward to supporting management in continuing to invest in the company's people and products and further accelerate its growth."
Dave Gray, CEO of Daxko, said, "All of our team members are very proud of the strong company we have built and this investment represents a major milestone in our evolution as it will further accelerate our growth. Additionally, we take seriously our role of enabling our customers to engage their members in leading healthier lives, and we are thrilled to partner with the experienced investment team at GI Partners and leverage their expertise to help us deliver these critical solutions to our customers and expand our leadership in the market."
Greg VandenBosch, Managing Director of GI Partners, said, "We are impressed with the dynamic business that has been built under Dave's leadership, and look forward to applying our combined expertise and resources to help the company build on its success and further expand its leadership position."
Daxko represents the eighth portfolio investment in GI Partners Fund IV, a $2 billion fund raised in 2014. The investment is subject to closing conditions, including regulatory approvals, and is expected to be completed in the third quarter.
Headquartered in Birmingham, Alabama, Daxko is a leading provider of mission-critical software solutions to member-based health and wellness organizations. Daxko's solutions help customers achieve high levels of operational efficiency, strong fiscal management, and increasingly engage the community to expand their mission. Daxko employs 195 team members across the Southeast. For additional information, please visit daxko.com/payment-services.
About GI Partners
Founded in 2001, GI Partners is a leading middle market private equity firm based in San Francisco. The firm currently manages over $12 billion in capital commitments through private equity and real estate strategies for recognized institutional investors across the globe. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.
Chris Tofalli Public Relations
GI Partners Investor Relations
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SOURCE GI Partners