Harris Williams Advises TractManager on its Sale to symplr
December 22 2020 - 6:03PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised TractManager, a
portfolio company of Arsenal Capital Partners (Arsenal), on its
sale to symplr, a portfolio company of Clearlake Capital Group,
L.P. (Clearlake). TractManager's technology and professional
services optimize the business of healthcare through contracting,
sourcing and provider management solutions. The transaction was led
by Sam Hendler, Dan Linsalata, Jake Lin and Owen Hughes of the
Harris Williams Technology Group.
“As the healthcare industry has evolved in the last 10 years,
operational optimization technology solutions – covering labor,
spend and compliance management – have rapidly come to the fore as
a strategic priority for provider organizations,” said Sam Hendler,
a managing director at Harris Williams. “This transaction continues
Harris Williams’ track record of representing best-in-class
software vendors and investors in this important subsector of
healthcare IT.”
“The sale to symplr is a tremendous validation of the deliberate
strategy that Arsenal and the TractManager management team have put
in place over the last several years,” added Dan Linsalata, a
director at Harris Williams. “It was a pleasure to work with the
TractManager and Arsenal teams and we look forward to watching the
company continue to evolve under new ownership.”
TractManager's healthcare-specific application suite serves
three out of five U.S. hospitals. Serving the healthcare industry
with integrity for more than 30 years, TractManager is the first
mover in strategic sourcing, enterprise contract lifecycle
management, provider management and evidence-based data. The
company's more than 450 highly skilled and experienced
professionals help clients to improve cash flows by reducing their
capital and nonlabor costs and to conform their contract, policy
and procedure management to meet regulatory requirements.
Arsenal is a leading private equity firm that specializes in
investments in healthcare and specialty industrials companies.
Since its inception in 2000, Arsenal has raised institutional
equity investment funds of $5.3 billion, completed more than 200
platform and add-on investments and achieved more than 30
realizations. Arsenal invests in industry sectors in which the firm
has significant prior knowledge and experience. The firm works with
management teams to build strategically important companies with
leading market positions, high growth and high value-add.
Founded in 2006, symplr is a global leader in healthcare
governance, risk management and compliance (GRC) SaaS solutions.
symplr focuses on a single mission: to make healthcare GRC simpler
and more efficient for the global healthcare community. The symplr
platform offers solutions that span provider data management,
provider credentialing services, compliance, patient safety,
workforce management and vendor management. Its customers count on
symplr every day to help protect and streamline their businesses
with reliable and innovative GRC solutions.
Clearlake is a leading investment firm founded in 2006 operating
integrated businesses across private equity, credit and other
related strategies. With a sector-focused approach, the firm seeks
to partner with world-class management teams by providing patient,
long-term capital to dynamic businesses that can benefit from
Clearlake's operational improvement approach, O.P.S. The firm's
core target sectors are technology, industrials and consumer.
Clearlake currently has approximately $25 billion of assets under
management and its senior investment principals have led or co-led
over 200 investments. The firm has offices in Santa Monica,
California and Dallas.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Technology Group advises leading private and
public companies, entrepreneurs, private equity firms and venture
capital firms on mergers and acquisitions and capital-raising
transactions worldwide. The Technology Group has deep domain
expertise in the IT Services, Software/SaaS and Internet &
Digital Media segments, with particular emphasis on specific
verticals including education technology, data analytics, energy
technology, fintech, public sector, and supply chain/logistics—with
a dedicated healthcare technology (HCIT) practice. Across
verticals, the firm also advises technology services and networking
solutions businesses. For more information on the Technology Group
and its recent transactions, visit the Technology Group’s section
of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
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