DFW Capital Partners has sold ReSource Pro to Kelso & Company
ReSource Pro
ReSource Pro is the leader in providing strategic business process management and outsourcing to the insurance industry. With over 5,000 employees based in China, India and the United States, it focuses on delivering dedicated back office and business analytics support across the commercial insurance ecosystem. The company serves insurance agencies, managing general agents (MGAs), wholesale insurance distributors, insurance program managers, third party administrators (TPAs) and insurance carriers.
The Deal
DFW acquired ReSource Pro in a corporate carve-out transaction in 2018. Under DFW’s ownership, the company significantly expanded its global operations and was established as a proven mergers and acquisitions platform through the completion of four acquisitions, the most recent of which closed during the sale process. Lincoln led a swift, targeted process focused on a select group of financial sponsors with experience investing in insurance services companies. Robust interest in the company, due to its compelling investment thesis coupled with a well-planned and highly competitive process, delivered numerous high-quality options to the shareholders.
Keith Pennell, Managing Partner of DFW Capital Partners, reflected, “Lincoln provided invaluable leadership to ReSource Pro throughout the sale process. The team’s ability to help articulate the complexities of the ReSource Pro business and curate a high-caliber field of knowledgeable and interested potential buyers yielded an efficient process and terrific outcome for DFW and management.”
Our Perspective
Alex Ring, Managing Director in Lincoln’s Business Services Group, commented, “ReSource Pro typifies the attractiveness of investments in the insurance services industry. With its long-term proven track record of performance and unquestionably recurring revenues, ReSource Pro is poised to benefit from multiple long-term tailwinds in the insurance industry, including an aging U.S. workforce, consolidation in the distribution segment of the supply chain and the increasing embrace of technology and automation in insurance workflows. ReSource Pro is the clear market leader in a highly attractive and growing market; one which is growing far faster than the industry it serves due to increasing trends toward outsourcing. This transaction is sure to be an important precedent in the market and will serve to only enhance interest in this already attractive market segment.”
Lincoln was a fantastic partner throughout the process. Lincoln brought a high level of enthusiasm and executive-level attention to the process, and they delivered critical insights at countless steps along the way, leading to an incredible outcome for our shareholders and employees. We are excited about the next phase of growth with the Kelso team, and we are deeply appreciative of the Lincoln team’s efforts as we embark on this new partnership.
Meet our Senior Team
My goal is to inspire and motivate our people to make a true impact with their clients, their colleagues and their communities.
Robert Brown
CEO | Managing Director | GP-Director
Chicago
The transactions we work on are often trajectory-altering, with high stakes and pressure to get it right. We know our work, however challenging in the moment, is going to be impactful.
Mike Iannelli
Managing Director & Co-head of Business Services
Chicago
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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.