Washington DC-based private equity firm Arlington Capital Partners (Arlington Capital) is to sell Ontario Systems (Ontario) to New Mountain Capital.
Ontario Systems is a provider of enterprise software that automates operations and accelerates revenue recovery for clients in the healthcare, accounts receivable management (ARM), and government markets. Terms of the transaction have not been disclosed.
Matt Altman, a Managing Partner at Arlington Capital, says: “Arlington’s investment in Ontario Systems continues our track record of successful partnership with founding management teams to drive transformational growth in healthcare software companies. The investments in technology and people that we have made over the course of our investment have further distinguished Ontario as the leader in revenue cycle management enterprise software across the large and growing healthcare, government, and accounts receivable management markets.”
“Our relationship with Arlington Capital Partners has been outstanding,” says Ron Fauquher, CEO and Co-Founder of Ontario Systems. “With Arlington’s assistance, we have successfully expanded our healthcare-market footprint, entered government markets, doubled our revenues, and expanded our reach to include more than 1,200 clients. We are proud of our progress and achievement of the goals we had previously set, and we thank Arlington for their support in helping drive our strategic growth initiatives. As we take the next evolutionary step, we look forward to New Mountain Capital’s support and partnership.”
Malcolm Little, a Partner at Arlington Capital, says: “It has been a pleasure working with the entire team at Ontario Systems over the last several years. The collaboration between the Arlington and Ontario teams as well as the Company’s significant organic and inorganic growth resulting therefrom exemplify Arlington’s partnership-oriented investment approach. We look forward to following Ontario’s continued success while working alongside New Mountain Capital.”
Robert W Baird & Co. served as exclusive financial advisor to Ontario. Greenberg Traurig served as legal advisor to the Company.
