VSS portfolio company Quatrro Business Support Services acquires EAB Solutions
VSS Capital Partners (VSS) portfolio company Quatrro Business Support Services (QBSS), a provider of end-to-end tech-enabled business process management services, has completed the acquisition of EAB Solutions Inc. (EAB), a Chicago-based provider of outsourced finance & accounting, and human resource services to Not-For-Profit (NFP) organisations in Chicago as outlined further in the attached press release.
EAB’s customers include schools and non-profit educational institutions, arts and cultural organisations, and health and human services organisations that rely on its accounting, financial and human resource services to focus on their core NFP mission activities.
For VSS, this acquisition demonstrates VSS’ expertise in identifying compelling acquisition opportunities that sustain QBSS’ growth trajectory and ability to serve Chicago’s large and vibrant NFP community – comprised of 50,304 organisations, employing over 885,747 people and generating more than USD102 billion in annual revenue.
“With Quatrro's resources EAB should be able to expand its geographic reach and grow exponentially,” says Patrick Turner, Managing Director at VSS. “EAB shares a common culture with QBSS, which enables certified nonprofit organisations to focus on their core mission activities while allowing them to operate more efficiently,” adds Julen Uriguen, Senior Associate of VSS. VSS invests USD10 million to USD50 million in lower middle market businesses with USD1 million to USD25 million in EBITDA.
The transaction is QBSS’ second add-on acquisition as a portfolio company of VSS and Trivest Partners, following its acquisition of Vanderloo Financial Services in February 2020.