Developing the Platform, Along with Organic and Acquisition Growth Initiatives, Resulted in a Much Larger, More Differentiated Business
Company Overview
Founded in 1975 as Keais Records Retrieval and rebranded in 2017, Ontellus is a national privately-held, technology-enabled record retrieval provider that empowers insurance carriers, self-insured corporations and law firms to reduce costs, make better-informed decisions and accelerate claims resolution. The company is committed to superior service, accuracy, and industry-leading turnaround times. Capstreet invested alongside the management team in early 2015, and in late 2019, Aquiline Capital Partners did a majority equity recapitalization with Capstreet and other unit holders rolling over.
Path to Value Creation
Capstreet worked with Aquiline Capital Partners and management to grow and differentiate the platform.
- Developed strategic roadmap with management to build a strong technology-enabled records retrieval provider
- Recruited new CEO, CFO, CRO, COO, President (Chartswap), and independent board member
- Introduced new technologies to lower costs, increase stickiness with customer base, and defend against competition
- Improved IT infrastructure to enhance controls and to facilitate scale for acquisition integration
- Increased cross-sell between core records retrieval and medical canvassing businesses
- Improved reporting and developed KPIs
- Created standardized pricing model
- Completed 7 strategic acquisitions and developed acquisition pipeline
This case study is included for informational purposes and should not be construed as a recommendation of any particular investment. A complete list of Capstreet’s current and prior investments is available upon request. It should not be assumed that investments made by the Fund will be comparable in quality or performance. Capstreet’s investment strategy involves substantial risks and uncertainties including the potential loss of all or a substantial portion of invested capital. There is no guarantee that Capstreet will successfully execute its investment strategy or achieve its investment objective(s). Information included herein relating to market characterization has been determined by Capstreet as of January 2023. Although Capstreet believes that such determinations are reasonable, they are inherently subjective in nature. Other market participants may make different determinations based on the same underlying data.