Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced its portfolio company Data Dimensions, a leading technology services provider in the business process automation industry, has completed the acquisition of WorkCompEDI® and its affiliates (WCEDI) in partnership with Sandbox Insurtech Ventures and management. WCEDI is a leading EDI clearinghouse for the property and casualty market, with a focus on quickly and efficiently facilitating the claims submission process from a provider to a payor. Bailey Southwell & Co. served as the exclusive financial advisor to WCEDI. Terms of the transaction were not disclosed.
“WorkCompEDI’s suite of products and services, combined with Data Dimensions’ scale and automation offerings, represents an enormous opportunity to innovate, improve value and create tailored solutions for our clients and partners,” said Bryan Doyle, President and Chief Executive Officer of Data Dimensions. “TSCP’s understanding of the space and their ability to assist us in the execution of our long-term vision continues to be critical to our success.”
Operating under the Data Dimensions brand, each entity will leverage its respective strengths to become the premier technology services organization in the Property & Casualty (P&C) industry. From intake automation and digital mailroom processing to an expansive EDI clearinghouse network, and forward to electronic payments, the combined result is a solution that propels the P&C market forward.
JC Wetzel, Director at TSCP said, “The acquisition of WCEDI is the next step in the ongoing effort to transform Data Dimensions into the leading tech-enabled, claims-handling engine for the workers’ compensation and P&C insurance industries.” Mr. Wetzel added, “WCEDI’s platform is complementary to our previous investments in automation technology, increasing the scope of the product and services available to customers of Data Dimensions.”