Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that they have partnered with Sandbox Insuretech Ventures (Sandbox) and management to acquire Data Dimensions, LLC (Data Dimensions), a Janesville, Wisconsin-based provider of outsourced document handling and workflow solutions for the P&C insurance, financial services and government industries. Bailey Southwell & Co. served as the exclusive financial advisor to Data Dimensions. Polsinelli represented TSCP on the transaction. Terms of the transaction were not disclosed.
Founded in 1982, Data Dimensions (www.datadimensions.com) employs state-of-the-art systems and technology to enable automation of document and data management for commercial insurance and government customers. Their unfailing focus on quality and data security, as well as decades of experience in document management has helped to secure their place as the preferred partner for some of the nation’s largest carriers, TPAs, PBMs/mail order pharmacies, P&C cost containment companies and government agencies.
“This is an exciting new phase for Data Dimensions. Thompson Street has a proven track record of building companies through technological innovation and acquisitions,” said Jon Boumstein, CEO of Data Dimensions. We are confident this partnership will not only further our current reputation as an industry leader but position our company as a leader in new markets as well.”
Bob Dunn, Managing Director, TSCP said, “Property and Casualty insurers are constantly looking for ways to increase efficiency and provide for enhanced focus on their core competencies versus document management and data preparation.” Mr. Dunn added, “We are excited to partner with the company’s outstanding management team to accelerate Data Dimensions’ investment in technology and future growth.”
Chris Zock, Managing Director, Sandbox said, “Data is one of the most valuable resources of the insurance industry and Data Dimensions occupies a critical position at the front-end of the data value chain.” Mr. Zock added, “With their cutting-edge digitalization and automation technologies, the company enables insurers to make use of previously analog and unstructured information in ways that enhance underwriting, claims, and many other processes. Data Dimensions’ services are foundational to helping insurers succeed in a highly competitive industry. We look forward to partnering with the Data Dimensions management team and TSCP to continue bringing new technology and services to existing and future clients.”