HOUSTON--(BUSINESS WIRE)--The CapStreet Group, LLC, (www.capstreet.com) today announced the completion of a majority recapitalization of Keais Records Service, LLC, known as “Keais,” in partnership with the senior management team.
Founded in 1975 and headquartered in Houston, Keais (www.keais.com) is a national provider of outsourced document retrieval services. The company currently focuses on insurance carriers and law firms that must retrieve medical records and other supporting documents to verify claim benefits or as supporting evidence in legal processes.
Keais has rapidly become one of the leading national providers of document retrieval services to the insurance industry and is one of the few companies capable of offering record retrieval services in all 50 states with high levels of service and quality.
“We are excited to welcome the CapStreet team as partners in this next phase of growth for Keais,” said Newton Ross, CEO of Keais Records Service. “CapStreet has a long, well-respected history of partnering with companies like ours to help them grow quickly and increase profitability.”
“We believe the company is well-positioned to benefit from favorable tailwinds within the outsourced record retrieval market for P&C carriers. We know that Newton Ross and the rest of the Keais team will be great partners as we work together to grow the company via acquisitions and organic growth initiatives,” added Neil Kallmeyer, CapStreet managing partner.
Keais is CapStreet’s first investment in its fourth fund, CapStreet IV, L.P. The investment reinforces CapStreet’s reputation for making control investments in privately held, lower middle market companies headquartered in Texas and the surrounding states.
Healthcare Growth Partners, LLC, advised Keais on the transaction. Willkie, Farr, & Gallagher LLP served as legal counsel to CapStreet, and Thompson & Knight LLP served as legal counsel to Keais.
About The CapStreet Group
The CapStreet Group is a Houston-based private equity firm founded in 1990 that invests in owner managed, lower middle market companies headquartered in Texas and surrounding states, with a particular emphasis on companies headquartered in the greater Houston area. CapStreet targets companies operating in the industrial distribution, industrial manufacturing and business service sectors and partners with management to accelerate growth and improve profitability. For more information, visit The CapStreet Group website, www.capstreet.com.