September 26, 2023

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Class 8 Marketplace Took a Breather in October

Harris Williams, a world investment financial institution specializing in M&A advisory solutions, announces it suggested TractManager, a portfolio business of Arsenal Cash Associates (Arsenal), on its sale to symplr, a portfolio firm of Clearlake Money Team, L.P. (Clearlake). TractManager’s technological innovation and skilled products and services enhance the organization of health care by contracting, sourcing and service provider administration answers. The transaction was led by Sam Hendler, Dan Linsalata, Jake Lin and Owen Hughes of the Harris Williams Technological know-how Group.

As the healthcare market has advanced in the very last 10 several years, operational optimization engineering alternatives “ covering labor, spend and compliance management “ have promptly appear to the fore as a strategic priority for service provider businesses, stated Sam Hendler, a managing director at Harris Williams. This transaction proceeds Harris Williams observe record of symbolizing most effective-in-class software program distributors and investors in this crucial subsector of health care IT.

The sale to symplr is a incredible validation of the deliberate approach that Arsenal and the TractManager administration staff have set in spot more than the previous quite a few many years, included Dan Linsalata, a director at Harris Williams. It was a satisfaction to get the job done with the TractManager and Arsenal teams and we appear forward to watching the firm proceed to evolve below new possession.

TractManager’s health care-precise application suite serves 3 out of 5 U.S. hospitals. Serving the healthcare field with integrity for far more than 30 several years, TractManager is the to start with mover in strategic sourcing, organization agreement lifecycle management, company management and evidence-dependent facts. The company’s much more than 450 really proficient and knowledgeable professionals support shoppers to make improvements to funds flows by minimizing their money and nonlabor prices and to conform their contract, plan and procedure management to meet regulatory prerequisites.

Arsenal is a foremost personal equity company that specializes in investments in health care and specialty industrials corporations. Because its inception in 2000, Arsenal has lifted institutional equity financial investment funds of $5.3 billion, concluded a lot more than 200 platform and include-on investments and realized much more than 30 realizations. Arsenal invests in business sectors in which the company has substantial prior know-how and encounter. The organization operates with management groups to develop strategically essential firms with major sector positions, superior development and higher benefit-increase.

Established in 2006, symplr is a world-wide chief in health care governance, risk administration and compliance (GRC) SaaS solutions. symplr focuses on a solitary mission: to make healthcare GRC easier and additional economical for the world-wide health care community. The symplr platform delivers solutions that span service provider information administration, provider credentialing expert services, compliance, affected individual basic safety, workforce management and vendor administration. Its prospects depend on symplr each individual day to aid secure and streamline their enterprises with responsible and modern GRC answers.

Clearlake is a main investment decision company established in 2006 operating built-in firms across private equity, credit rating and other connected tactics. With a sector-centered tactic, the firm seeks to husband or wife with world-course administration groups by furnishing patient, extensive-term cash to dynamic firms that can benefit from Clearlake’s operational improvement solution, O.P.S. The firm’s core concentrate on sectors are engineering, industrials and consumer. Clearlake at present has approximately $25 billion of property under administration and its senior financial investment principals have led or co-led about 200 investments. The firm has offices in Santa Monica, California and Dallas.

Harris Williams, an investment bank specializing in M&A advisory providers, advocates for sellers and buyers of providers throughout the world as a result of essential milestones and provides considerate guidance through the life of their organizations. By collaborating as just one business throughout Field Teams and geographies, the business assists its shoppers obtain results that assistance their targets and strategically make benefit. Harris Williams is fully commited to execution excellence and to making enduring, valued associations that are dependent on mutual rely on. Harris Williams is a subsidiary of the PNC Economic Services Group, Inc. (NYSE: PNC).

The Harris Williams Technological know-how Team advises leading personal and general public firms, business people, non-public equity corporations and undertaking cash companies on mergers and acquisitions and funds-elevating transactions around the world. The Technologies Team has deep area expertise in the IT Services, Software program/SaaS and Net & Digital Media segments, with distinct emphasis on particular verticals together with training technological innovation, facts analytics, energy technologies, fintech, community sector, and provide chain/logisticswith a dedicated health care engineering (HCIT) observe. Throughout verticals, the agency also advises technological know-how companies and networking solutions enterprises. For a lot more details on the Technology Team and its latest transactions, take a look at the Engineering Groups section of the Harris Williams web site.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private minimal firm integrated underneath English legislation with its registered office environment at 8th Ground, 20 Farringdon Street, London EC4A 4AB, British isles, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Money Carry out Authority. Harris Williams & Co. Company Finance Advisors GmbH is registered in the commercial sign-up of the regional courtroom of Frankfurt am Key, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Major, Germany (email tackle: [email protected]). Gesch¤ftsf¼hrer/Administrators: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade title less than which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Company Finance Advisors GmbH carry out small business.

For media inquiries, be sure to get hold of Julia Moore at [email protected].