Five Arrows Capital Partners and BPOC have acquired Basys, a portfolio company of WindRose Health Investors LLC.
Basys is a provider of benefits administration software to multi employer plan fund offices and third party administrators. The firm specialized in benefits administration software for the Taft-Hartley community and provide integrated technology services. Additionally, Basys’ software suites, web-based portals and hosting services deliver cost-effective and reliable health and pension benefits processing, administration, reporting and member services.
Following the deal, FACP and BPOC will merge Basys with the firms’ portfolio company, ISSI, to create a combined multi employer benefits service.
“Over its three-decade history, Basys has consistently provided best-in-class software solutions that serve the needs of a highly complex end market, while delivering sustainable and profitable growth,” said Dan Linsalata, a director at Harris Williams. “The sale to FACP and BPOC represents the next chapter in strong investor interest in the growing, yet underserved, multiemployer and Taft-Hartley sectors.”
Harris Williams advised Basys on the sale.