|March 28, 2018 – Chicago, IL – LaSalle Capital is pleased to announce that it has completed the acquisition of Brown and Joseph, Ltd. (“Brown and Joseph” or the “Company”) in partnership with NewSpring Mezzanine. Brown and Joseph, headquartered in Itasca, IL, is a leading provider of commercial accounts receivable management solutions, with a focus on the insurance industry. The Company principally specializes in B2B third-party collection services, but also provides first-party collection services and insurance premium audits. Brown and Joseph represents LaSalle Capital’s eleventh platform investment out of its second fund.
Ryan Anthony, Partner at LaSalle Capital, commented, “Chris Cappuccilli and Kevin Walsh built an impressive B2B collections firm that is the market leader focused on the insurance industry. We look forward to working with the team at Brown and Joseph to help accelerate the growth of the business.”
Brown and Joseph’s CEO, Chris Cappuccilli, stated, “We are extremely pleased to have LaSalle Capital lead the next chapter of growth for Brown and Joseph in partnership with NewSpring. We are confident we found the right stewards for the business who will continue to keep our customers’ and employees’ best interests in mind.” Kevin Walsh, President of Brown and Joseph, added, “LaSalle and NewSpring are the perfect partners to help grow the business as they each have an in-depth understanding of collections businesses, supported by their previous investments in our industry. We look forward to remaining involved in the operations through a transition period.”
“Given its unique market position and our prior experience working in this niche market, we are excited for this compelling opportunity to help Brown and Joseph continue to deliver and sustain the highest quality, innovative solutions to the insurance community, while helping to scale and grow their already high-performing business,” said Andrew Panzo, NewSpring General Partner. “We are also pleased to have found a great partner in LaSalle Capital to lead this acquisition opportunity.”
If you have questions regarding this transaction or would like to discuss other opportunities in the technology-enabled business services industry, please contact Ryan Anthony, Jeff Walters or David Murav of LaSalle Capital at (312) 236-7041.
LaSalle Capital is a leading private equity firm with extensive experience in the lower middle market. We currently manage two funds totaling over $345 million in capital. LaSalle has a proven track record of partnering with management teams to increase value in our companies by providing strategic operating focus and driving growth organically and through acquisitions. We have domain expertise and investment focus in two industry sectors: technology-enabled business services and food and beverage.