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New Mountain Capital Makes Investment in Connextions, Inc.
Leading Private Equity Firm Provides Platform to Accelerate Company's Participation in Consumer-Directed Heatlhcare
October, 2006 | Minneapolis, MN |
TripleTree, LLC is pleased to announce that New Mountain Capital Partners II, L.P., a private equity fund sponsored and managed by New Mountain Capital LLC, has made a significant equity investment in Connextions, Inc., a leading provider of outsourced Customer Relationship Management services for healthcare and other commercial organizations. TripleTree acted as the exclusive financial advisor for Connextions.
Over the past decade, Connextions has provided technology-based business solutions delivered from its proprietary customer data-driven platform for a long list of America's best-known companies, including Federal Express, Mercedes Benz and UnitedHealth Group.
Through its Connextions Health operations, the company has leveraged its technological and Customer Relationship Management (CRM) capabilities to earn a leadership position in the rapidly emerging Consumer-Driven Healthcare (CDH) movement in the United States.
In order to fully capitalize on their growth potential, the Company engaged TripleTree to identify and secure an investment partner.
Through a collaborative effort with the Connextions' management team, TripleTree targeted a select group of global private equity firms that specialize in healthcare and business services sectors. Under the advisement of TripleTree, the Company chose New Mountain Capital based on their ability to fund follow-on acquisitions and support the management teams' long-term growth objectives.
Said Connextions Chairman & CEO Jack LeFort, "TripleTree knows how to extract the diamonds in the rough. New Mountain will provide Connextions with the long-term financial and intellectual capital necessary to take advantage of the significant new opportunities in healthcare. This transaction is the runway for growth that will enable Connextions to continue in its leadership position and innovation as the healthcare industry undergoes the most important changes of the past 50 years."
TripleTree, LLC is a research-based investment bank serving growth companies, investors and global acquirers. TripleTree conducts proprietary research that guides our work in M&A, growth capital and financial advisory services. Our value-based approach benefits technology-enabled businesses in sectors where delivery models are converging technology and services, and all sectors where CEO’s and investors are in search of creative ways to disrupt markets and unleash value.
TripleTree’s unique personality is shaped by the experience of our principals who as former business builders and transaction professionals create strategic outcomes that maximize value for our clients. The firm is located in Minneapolis. |
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