BOSTON, Feb. 6, 2019 /PRNewswire/ -- BV Investment Partners ("BV"), a middle-market private equity firm focused on the business services, software and IT services sectors, today announced that it has partnered with management to acquire Intelliteach, a leading, global provider of tech enabled, business process outsourcing solutions for law and accounting firms, from Dominus Capital, L.P. Intelliteach is the seventh investment in BV's ninth fund, which has $750 million of committed capital.
Headquartered in St. Louis, with offices in Atlanta, London, Toronto, and Goa (India), Intelliteach serves over 300 law and accounting firms globally. The Company specializes in "white glove" IT help desk support, IT Managed Services (Development, Infrastructure, Engineering and Legacy Software Support), Managed Financial Services (e-billing processing, accounts receivable management, and cash application) and training and education through its e-learning platform. Its managed IT and financial offerings are augmented with proprietary software platforms that support a data driven service delivery model. Intelliteach's clients on average have experienced a 10X return on their investment and/or reduced overall operating expense by more than 30%, all while improving quality of service which is available 24/7, 365 days a year.
Seelin Naidoo, Chief Executive Officer of Intelliteach, said, "For over 20 years Intelliteach has served as a trusted, long-term partner for its clients, helping law and accounting firms solve their complex IT and financial services challenges. With BV's assistance we intend to build upon Intelliteach's strong foundation to continue to enhance our current service offerings while developing additional services that will deliver enhanced value to our customers and employees. The market for our outsourced technology and business processes is still vastly underpenetrated, so we are excited to begin our next chapter with BV."
Matt Kinsey, Managing Director of BV, said, "Intelliteach has positioned itself as a trusted adviser through its technology enabled service offerings. Seelin and his team have built a business that delivers unique value to its customers, and we're thrilled to be backing them in the recapitalization of the business. We're looking forward to supporting the team's growth strategy in any way we can, and believe our deep industry experience base and network can be applied to help Intelliteach continue to scale organically as well as through acquisitions."
In connection with the investment, Mike Bryant, an industry expert and current Chairman of legal process outsourcing business, HaystackID, will join the board of directors. Mr. Bryant has a long track record of success in the legal outsourcing market and will provide strategic guidance and support with various growth initiatives.
"We are investing in a business with exceptional fundamentals, supported by long-term industry tailwinds, and backed by a management team in which we have great conviction," said Jason Kustka, Principal of BV. "We think that Intellitech is only at the beginning stages of its evolution and look forward to helping management take advantage of an attractive market opportunity."
Intelliteach is the leading global provider of intelligent outsourcing solutions to more than 300 firms in the legal and accounting markets. With focus on providing secure, scalable solutions enabled by best in class technology platforms, our multi service solutions help to position law firms for financial success by allowing them to emphasize long-term practice growth strategies and transformative law practices. See what's next with Intelliteach at www.INTELLITEACH.com.
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $3.4 billion, actively targeting investments in the business services, software and IT services industries. For more information, please visit www.bvlp.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE BV Investment Partners