BV Investment Partners, a middle-market private equity firm focused on the tech-enabled business services, software, and IT services sectors, has announced the sale of Frontline Managed Services, one of the world’s largest providers of managed services specifically geared for the legal industry, to Broad Sky Partners.
Founded in 1987, Frontline Managed Services is a leading global provider of white glove managed IT services and revenue cycle management solutions to over 800 law firms. Headquartered in St. Louis, Frontline has more than 1,000 employees across the globe, including U.S. locations in Toledo, Honolulu, and New York City as well as overseas in Toronto, London, Hyderabad, Goa, and Cape Town.
Seelin Naidoo, Chief Executive Officer of Frontline, expressed gratitude for BV’s operational experience and industry expertise in helping to institutionalize and professionalize the company. He highlighted the importance of the partnership in bolstering the company’s standing in the industry and expanding its global presence.
Matt Kinsey, Managing Partner at BV Investment Partners, emphasized their investment in creating a differentiated market leader that enhances customer success for clients. He praised the collaboration with Seelin and his team during BV’s ownership, resulting in further investment in the business and transformative acquisitions.
Sam Axelrod, Principal at BV, commended the strong and dedicated management team at Frontline for scaling the business, expanding service offerings, and entering new geographies. He expressed confidence in Frontline’s future market opportunities.
The terms of the transaction were not disclosed. Guggenheim acted as the exclusive sell-side advisor and Ropes & Gray served as legal advisor to Frontline and BV on this transaction.
For more information about Frontline Managed Services and BV Investment Partners, visit their respective websites.