Quatrro Business Support Services, a provider of end-to-end tech-enabled business process management services and portfolio company of VSS Capital Partners, a private investment firm investing in the business services, healthcare, education and information industries, today announced that its portfolio company has completed the acquisition of EAB Solutions Inc.
Headquartered in Chicago, EAB provides outsourced finance & accounting, and human resource services to not-For-profit organizations. EAB’s services include accounting, government reporting, billing, audit preparation support, employee compliance and general bookkeeping, as well as human resources administration, strategic planning and employee relations services. The company’s customers include schools and nonprofit educational institutions, arts and cultural organizations, and health and human services.
“This acquisition demonstrates VSS’ expertise in identifying compelling acquisition opportunities that sustain QBSS’ growth trajectory and ability to serve Chicago’s large and vibrant NFP community,” said Patrick Turner, managing director at VSS. “With Quatrro’s resources EAB should be able to expand its geographic reach and grow exponentially. EAB shares a common culture with QBSS, which enables certified nonprofit organizations to focus on their core mission activities while allowing them to operate more efficiently,” added Julen Uriguen, Senior Associate of VSS.
“EAB’s service offering is highly complementary to QBSS and strengthens our capabilities to add value to our existing NFPs and prospective clients in Chicago, where the Company is known to be a trusted financial partner to a wide range of organizations,” said C M Sharma, chairman and CEO of QBSS. “We look forward to partnering with EAB President and CEO Christopher Egger and his tech savvy staff to expand nationally as we continue to add talent to QBSS, accelerate our evolution, and provide seamless, end-to-end BPO solutions to all our clients.” Egger and EAB founder and accounting veteran Shanan Egger, who established EAB in 2011, will join QBSS’ NFP industry management team.
The transaction is QBSS’ second add-on acquisition as a portfolio company of VSS and Trivest Partners, following its acquisition of Vanderloo Financial Services in February 2020. VSS originally invested in QBSS in September 2019.