PALM BEACH GARDENS, Fla.–(BUSINESS WIRE)–Quad-C Management, Inc. (“Quad-C”), a leading middle market private equity firm, today announced an investment in Dane Street, a national leader in the insurance and healthcare services industry and provider of independent medical examination and peer review services to more than 300 customers.
“The Quad-C team shares a vision to continue to enhance our clinical and technology-based assets to provide unparalleled service to our clients.”
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Founded in 2008 by Will Fulton and based in Palm Beach Gardens, Florida, Dane Street provides medical evaluation and review services to the workers’ compensation insurance, auto insurance, disability insurance, and group health insurance markets. Its customers include a leading roster of Tier 1 insurance companies, third-party administrators, health plans, Fortune 500 employers, law firms, and more. The management team, led by CEO Greg Powers, will remain in their current roles, and Will Fulton will join the company’s board of directors and continue as a significant shareholder.
“We are excited about the opportunity to partner with a group that understands and respects our core values at a high level,” said Dane Street founder Will Fulton. “We chose Quad-C because of its deep experience partnering with founder-owned businesses and its strong track record of helping companies scale in network-based businesses.”
“The Quad-C team shares a vision to continue to enhance our clinical and technology-based assets to provide unparalleled service to our clients,” said Dane Street CEO Greg Powers. “We are grateful for our customers’ growing trust and investment in our services and are deeply committed to continuing to expand our service reach and capabilities, while remaining focused on industry-leading quality, turnaround compliance and ease of doing business.”
said Frank Winslow, senior partner at Quad-C. “We have been evaluating the payer services market for many years and see Dane Street as a uniquely differentiated platform with the strongest growth track record in the industry. We share management’s enthusiasm for the partnership and market outlook.”
The partnership will enable Dane Street to reinvest capital and accelerate growth through organic and strategic acquisitions.
Investment terms were not disclosed. Bailey & Company acted as exclusive financial advisor to Dane Street on this transaction.
About Quad-C management:
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a leading middle market private equity firm focused on investing in established service and industrial companies. Over its 30-year history, Quad-C has invested $4.7 billion in capital in 88 platform companies and more than 400 add-on acquisitions. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. Click here for more information. www.quadcmanagement.com.
About Dane Street:
Dane Street LLC is a national leader in providing high-quality independent medical examinations (IMEs), peer reviews, and related independent medical review services to the workers’ compensation, auto, disability, and group health sectors. Dane Street provides its clients, including insurance companies, third-party administrators, employers, and legal professionals, with objective, evidence-based, and defensible medical reports to assist in making accurate and medically appropriate claims decisions. Headquartered in Palm Beach Gardens, Florida, Dane Street is known for its commitment to regulatory compliance, customer service, superior clinical integrity, and operational transparency. Click here for more information. www.danstreet.com
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