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PRESS RELEASE: InvestMichigan! Mezzanine Fund invests in Wixom, Mich.-based DANTOM Systems
October 31, 2011
TROY, Mich. — Credit Suisse’s Customized Fund Investment Group (CFIG) and Beringea, co-managers of the InvestMichigan! Mezzanine Fund, today announced an investment in DANTOM Systems, Inc. (“DANTOM”) in conjunction with the acquisition by Compass Investment Partners Fund, L.P. Terms of the investment were not disclosed.
DANTOM is a leading provider of outsourced document management services and customized data solutions to the accounts receivable management industry. The company’s core service offering includes secure document creation and delivery, data hygiene and analytics, electronic archival services and online payment portals, all while maintaining compliance with regulatory guidelines. DANTOM serves a large and diverse customer base across the health care, financial, home services and government end-markets.
The InvestMichigan! Mezzanine Fund, an Impact Investment fund licensed with the U.S. Small Business Administration, will invest up to $130 million in lower-middle-market Michigan companies over the next five years.
“It’s exciting for Michigan to see the InvestMichigan! Mezzanine Fund continue to be a great resource for the state to grow and expand local companies,” said Michael Kell, with the Credit Suisse CFIG Michigan investment office. “We are eager to work with the DANTOM team as they continue to serve and drive results for their more than 900 clients nationwide.”
The InvestMichigan! Mezzanine Fund focuses exclusively on providing capital to businesses that are headquartered, have a significant presence, and/or plan to expand or relocate in Michigan.
DANTOM Systems, Inc. a premier provider of value-added business process outsourcing solutions serving the accounts receivable management and revenue cycle management sectors. DANTOM’s national client base of over 900 organizations includes the nation’s largest collections agencies, hospitals, medical practices, cable companies and utilities. Established in 1997, with headquarters in Wixom, MI, DANTOM has more than 100 years of combined experience in secure data transfer, integrated data analytics, document creation and delivery, electronic archival and online bill payment. DANTOM’s product and service offering provides customized accounts receivable management and revenue cycle management solutions to improve efficiency, reduce costs and increase cash flow. For more information please visit: www.dantomsystems.com
Credit Suisse’s Customized Fund Investment Group (CFIG) is one of the largest and deepest investment teams dedicated to private equity investing. The group is headed by Managing Director and Global Head Kelly Williams, who founded CFIG in 1999. As of Dec. 31, 2010, CFIG managed more than $27 billion in commitments to private equity funds of funds and co-investments, both in the United States and internationally. CFIG’s more than 125 professionals are based at the group’s offices in New York, London, Hong Kong, Austin, Columbus, Detroit, Indianapolis, Los Angeles, Portland and Raleigh. In addition to the Invest Michigan Mezzanine Fund, CFIG manages the $95 million Venture Michigan Fund I, the $120 million Venture Michigan Fund II and the $109 million Michigan 21st Century Investment Fund programs and co-manages with Beringea the $185 million Invest Michigan Growth Capital Partners Fund. In total Credit Suisse manages over $500 million of Michigan-target investment initiatives, making Credit Suisse one of the largest pools of private equity capital in the State and establishing Michigan as a leader in supporting capital investment in the industries of tomorrow. For more information, visit www.credit-suisse.com.
Beringea, LLC provides equity and/or mezzanine debt to small- and-middle market companies. Founded in 1988, the Firm is headquartered in Farmington Hills, Michigan with an affiliate office in London, UK. Beringea invests in portfolio companies operating in a range of sectors, including health care, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products. With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders. For more information, visit www.beringea.com.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. In the United Kingdom, this document is issued by Beringea LLP, a firm authorized and regulated by the Financial Conduct Authority. Beringea LLP is a limited liability partnership registered in England and Wales with company number OC342919, and its registered office is at 39 Earlham Street, London, WC2H 9LT, UK. This document is intended solely to provide information regarding Beringea’s potential financing capabilities for prospective portfolio companies.
Credit Suisse CFIG Head and Managing Director
Credit Suisse CFIG Michigan Office