NewSpring the Firm a family of private equity funds announced today that NewSpring Mezzanine NewSpring the Firm’s dedicated mezzanine fund has invested in Brown amp Joseph Ltd Brown amp Joseph or the Company in partnership with LaSalle Capital Proceeds from the transaction will be used to expand the Company’s geographic footprint and service offering
Brown amp 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
Given its unique market position and our prior experience working in this niche market we are excited for this compelling opportunity to help Brown amp 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 ”
Brown amp Joseph’s CEO Chris Cappuccilli stated We are extremely pleased to have LaSalle Capital lead the next chapter of growth for Brown amp 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 amp 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 ”
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 amp Joseph to help accelerate the growth of the business ”
About Brown amp Joseph
Founded in Chicago in 1996 by the same private owners who lead the firm today Brown amp Joseph provides commercial debt collection services to the insurance health logistics staffing and telecommunications industries They set the highest standards in licensure compliance bonding and insurance coverages that exceed state and federal mandates Their diverse portfolio of specialized debt recovery and receivable management services are unrivaled by conventional collection agencies For more information visit brownandjoseph com
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