BOSTON, Sept. 11, 2020 /PRNewswire/ -- BV Investment
Partners ("BV"), a middle-market private equity firm focused on the
tech-enabled business services, software and IT services sectors,
today announced the sale of Franco
Signor, a provider of Medicare Secondary Payer (MSP)
compliance solutions for self-insured companies, insurers, and
third party administrators, to Verisk (Nasdaq:VRSK), a leading data
analytics provider. Franco Signor will become part of
Verisk's Claims Partners business, another leading provider of MSP
compliance and other analytic claim services.
Franco Signor, headquartered in
Bradenton, FL, is a full-service
provider of MSP compliance software and outsourced services. The
Company's customers rely on Franco's deep domain expertise, robust
integrated technology platform and flexible reporting capabilities
to manage workers' compensation, no-fault, and liability claims in
compliance with long-established, complex and evolving MSP
regulatory guidance. Franco Signor
and Claims Partners will be combining forces to provide the single
best resource for Medicare compliance.
Sean Wilder, Managing Director of
BV Investment Partners, said, "When we invested in Franco Signor just over a year ago, we were
proud to partner with CEO John
Williams and company founders Roy
Franco and Jeff Signor, true
pioneers and leaders of the MSP compliance industry. Our
visions were aligned on the multiple opportunities to grow the
company both organically and through strategic M&A. We
are excited to have achieved our goals in a relatively short period
of time and we look forward to witnessing what the future holds for
this compelling combination with Verisk."
John Williams, CEO of
Franco Signor, said, "We have had a
terrific partnership with BV and appreciate their valuable support
and insight that allowed us to formalize and execute on
value-driving initiatives across customer engagement, technology
and product development, sales and marketing and operations.
Together we expanded Franco's reach and capabilities and we look
forward to bringing that to Verisk and combining the best of both
companies to better serve our customers and the market."
Laura Swearingen, Principal of BV
Investment Partners, said, "Our investment in Franco Signor was borne out of an initial thesis
around regulatory-driven compliance services in the healthcare and
insurance sectors. We have greatly enjoyed partnering with
John, Roy and Jeff and the incredibly passionate and talented team
around them during this exciting partnership, and we are thrilled
for the team and the next phase in the company's growth aligned
with Verisk."
About Franco Signor
Franco Signor is a leader in Medicare Secondary Payer (MSP)
Compliance. The company delivers comprehensive MSP Compliance
solutions to self-insured employers, insurers, and third-party
administrators in the United
States. For more information, please
visit www.francosignor.com.
About BV Investment Partners
BV Investment Partners 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 approximately
$3.7 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
914-834-4334
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SOURCE BV Investment Partners