New Jersey-based DFW Capital Partners has acquired a majority stake in insurance industry solutions provider ReSource Pro.
ReSource Pro, a leader in operations efficiency and business process solutions for the insurance industry, will continue as a stand-alone entity with its existing management team tasked with expanding the company's operations. Terms of the transaction were not disclosed.
DFW managing partner Keith W. Pennell said: "DFW's strategy has been to invest in middle market companies with strong management teams and consistent annual revenue growth.
"ReSource Pro is the clear market leader for its services, with exceptional growth, client retention and service quality marks from its customers. We are excited to partner with the company and its deep management team and help support the continued growth of both its client base and service offering."
Headquartered in New York with service operations across the US, China and India, ReSource Pro is focused on operational efficiency and analytics as key drivers of profitable growth for insurance organizations. The company was founded in 2004 and has grown from a small start-up to a global operation with more than 3,000 employees located on multiple continents.
In addition to its market-leading rate of client retention, ReSource Pro has also been named by Inc. magazine as one of the fastest growing privately held companies in the US for the past nine years.
ReSource Pro CEO Dan Epstein said: "We've found a genuine partner in DFW both in terms the opportunity we see to support operational transformation in the insurance industry and also in the alignment of our business cultures.
"Going forward management has a significant investment and ownership in ReSource Pro, and we are excited to partner with DFW as we embark on the next chapter of our growth and client solutions."
Source: Company Press Release