CIC Partners Announces Sale Of OmniSYS
21 Nov, 2013, 03:10 ET
DALLAS, Nov. 21, 2013 /PRNewswire/ -- CIC Partners, a Dallas-based middle-market private equity firm, announced today that it has sold OmniSYS, LLC, the national market leader in processing medical claims and providing compliance services for retail and mail order pharmacies, to New York-based private equity firm Moelis Capital Partners (MCP), the private equity business of Moelis & Company. OmniSYS will continue to be led by its current President and CEO, Tricia Fringer.
CIC Partners has been invested in OmniSYS for six years, with Fringer and her management team leading significant growth and value creation efforts over the most recent five years. Since CIC's acquisition in October 2007, OmniSYS has grown by expanding the scope of its services and penetrating new markets and channels. Today, OmniSYS provides its comprehensive product and service solutions to over 35,000 retail and mail-order pharmacies, insurance companies, retiree health plans, and medical equipment providers throughout the United States.
"Our partnership with Tricia Fringer and the rest of the OmniSYS management team has been a success in every way. CIC Partners worked together with management to develop a multi-faceted strategic plan. OmniSYS has become a market leader and has delivered strong growth resulting in a successful transaction for our investors and management partners," said Marshall Payne, Chairman of OmniSYS' Board of Directors and Partner at CIC. "Tricia did an outstanding job leading this Company, enhancing its value proposition and expanding its relationship with its customer base. We believe OmniSYS is well positioned to capitalize on future growth opportunities."
"I am extremely grateful for the partnership with CIC Partners," said Fringer. "We have enjoyed tremendous success over the last several years, and we are eager to build upon it with our new partner." Fringer added, "CIC Partners' guidance and direction helped grow our customer base, products, and services. We are thankful for their advice, counsel, and hard work along the way. It has been a great team effort."
Robert W. Baird & Co. acted as exclusive financial advisor to OmniSYS.
ABOUT CIC PARTNERS
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, healthcare and energy industries. CIC manages the personal capital of its investment team, Operating Partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its Operating Partners, who are successful CEO's and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years. For additional information, please visit www.cicpartners.com.
ABOUT MOELIS CAPITAL PARTNERS
Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages more than $800 million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit www.moeliscapital.com.
CONTACT: Claire Reyes, 1-214-871-7723, [email protected]
SOURCE CIC Partners
Share this article