7/5/11
Clarion Capital Partners, LLC Wins Middle Market Deal of the Year Award at ACG New York’s Inaugural Champion’s Award Dinner Clarion Capital Partners, LLC Wins Middle Market Deal of the Year Award at ACG New York’s Inaugural Champion’s Award Dinner
New York, July 5, 2011 – Clarion Capital Partners, LLC received the 2011 award for Middle Market Deal of the Year ($25 million to $100 million size category) from ACG’s New York chapter and The M&A Advisor for the sale of Crowe Paradis Services Corporation to Verisk Analytics. The award was determined by an independent panel of experts who represent a cross-section of the middle market and was presented at the inaugural Champion’s Awards dinner.
Eric Kogan, one of the Partners at Clarion, said “We are honored to win this inaugural award, particularly in connection to the Crowe Paradis transaction. This investment brought together a wonderful series of attributes: we had the opportunity to partner with a terrific management team, help create new jobs in a difficult economic environment, provide certainty to our clients and ultimately help protect the Medicare trust funds. This investment is illustrative of Clarion’s approach to investing which has been extremely successful for our limited partners.”
Founded in 2002 by Michael Crowe and Kenneth Paradis, Crowe Paradis provides Medicare Secondary Payer Act (“MSP”) compliance solutions to the nation’s largest property and casualty insurance companies, third-party administrators and self-insured organizations. Clarion Capital Partners invested in Crowe Paradis in October 2006 as part of the firm’s strategy to pursue compelling growth investments in emerging industries, such as the growing MSP compliance services field.
“During our partnership, Crowe Paradis grew from a small, high quality provider of Medicare set aside accounts to an industry leading, full spectrum MSP compliance firm,” said Tom Goundrey, a Managing Director at Clarion. “Crowe Paradis’s emergence as a leader in the industry is due to the company’s strong management team, preeminent technology and intellectual capital. We are delighted with the partnership we had with them.”
“We have greatly enjoyed our successful collaboration with Clarion Capital Partners over the last five years”, added Kenneth Paradis, Crowe Paradis’s Chief Executive Officer. “Clarion provided valuable strategic insights, operational support and business development knowledge during our formative years.”
Crowe Paradis worked with Lazard Middle Market and Paul, Weiss, Rifkind, Wharton & Garrison LLP and McGladrey & Pullen, LLP on this transaction. Choate, Hall & Stewart LLP advised certain minority shareholders of Crowe Paradis.
About Clarion
Founded in 1999, Clarion is a New York-based investment manager operating two primary business segments: Private Equity (launched in 1999) and Structured Credit (launched in 2018). Clarion’s private equity business seeks to make primarily control investments in a diversified portfolio of lower middle-market companies generating $7.5-30.0 million of EBITDA. Clarion focuses on growth companies in industries such as: Media, Entertainment & Technology; Financial Technology & Services; Business, Healthcare & Industrial Services; and Consumer. Clarion’s structured credit business focuses mostly on CLO equity and mezzanine investments, sourced both in the primary and secondary markets. The structured credit team manages traditional private funds and an insurance-dedicated fund. Additional information on Clarion can be found at www.clarion-capital.com.
About Crowe Paradis Services Corporation
Crowe Paradis Services Corporation (CPSC) is the nation’s leading Medicare compliance firm. By leveraging legal, clinical and technological expertise, CPSC provides insurers, third-party administrators, and employers with a suite of products and services to meet their Medicare compliance needs. Headquartered in North Reading, Mass., with offices throughout North America, more information about Crowe Paradis Services Corporation can be found at www.cpscmsa.com.