Parthenon Capital, a Boston-based private equity firm, has made a strategic investment in AArete, a Chicago-based management and technology consulting firm.
Following completion of the transaction, AArete employees and leaders will continue to be “significant” shareholders, the consulting firm said in a press release.
“We are very excited to partner with Parthenon Capital as we look to this next chapter in AArete’s evolution,” said Loren Trimble, CEO and managing director of AArete. “We believe Parthenon Capital’s deep healthcare expertise and experience helping companies drive transformational growth will further strengthen AArete’s position as the strategic partner-of-choice for payers and other verticals.”
The private equity deal will enable the consultancy to accelerate growth initiatives, expand solution sets, and pursue acquisitions, AArete said.
Founded in 2008, AArete delivers strategy, profitability improvement, data and analytics, and technology services to healthcare, education, financial services, and public sector clients. The firm has more than 500 people across offices in the US, UK, and India.
“AArete has established itself as an important partner to a number of the nation’s leading health plans,” said Dan Killeen, partner at Parthenon Capital. “As active investors in healthcare services and technology businesses, we know well the challenges payer organizations face across several dimensions and believe AArete is uniquely equipped to serve as a strategic resource to help address those pain points. We look forward to collaborating with the AArete team in the coming years, building on their success to-date and working together to create the market’s leading payer advisory platform.”
Parthenon was founded in 1998 and focuses on financial services, healthcare services, and business services. The firm has completed 50+ platform acquisitions and 200 add-on acquisition representing over $5-billion in value.
Source: www-consulting-us.cdn.ampproject.org