CIC Partners, a Dallas-based middle-market private equity firm, has sold OmniSYS 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 chief executive 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 product and service solutions to over 35,000 retail and mail-order pharmacies, insurance companies, retiree health plans, and medical equipment providers throughout the US.
"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," says 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 capitalise on future growth opportunities."
"I am extremely grateful for the partnership with CIC Partners," says Fringer. "We have enjoyed tremendous success over the last several years, and we are eager to build upon it with our new partner."
Robert W Baird & Co acted as exclusive financial advisor to OmniSYS.
