Thompson Street Capital Partners Makes Growth Investment in Benefit Recovery Group
ST. LOUIS (August 3, 2022) – Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today a growth investment in Benefit Recovery Group (“BRG” or the “Company”), a Memphis, Tennessee based provider of subrogation services. Edgemont Partners LP acted as exclusive financial advisor to Benefit Recovery Group. Terms of the transaction were not disclosed.
Founded in 1999 by Thomas Lawrence, BRG provides subrogation and compensation recovery services to the self-insured employer market. Utilizing its proprietary technology-enabled infrastructure, BRG performs its subrogation services with zero-member disruption, while providing its customers a larger amount and greater transparency of subrogation recoveries.
Said Thomas Lawrence, Founder, BRG, “TSCP has a proven track record of guiding businesses through their next phase of growth, especially as it relates to sales force expansion and the rollout of additional services. We are excited to partner with TSCP to bolster BRG’s growth, both organically and via M&A.”
“TSCP is an excellent cultural and strategic fit with BRG,” said Laura Hescock, CEO, BRG. “Together, we are excited to execute on our vision to not only grow our core subrogation services, but also enhance the value we create for our customers by expanding the services we offer.”
J.C. Wetzel, Director, TSCP, said, “Through its tech-enabled platform and no member disruption, BRG represents a truly differentiated business in the subrogation space. TSCP is looking forward to partnering with the BRG management team to accelerate the Company’s already exceptional growth.
“TSCP has long had an investment thesis focused on servicing the self-insured employer market,” said Bob Dunn, Managing Partner, TSCP. “BRG offers an innovative process through a tech-enabled platform that helps significantly increase recoveries, and we’re thrilled to provide support for the team as they focus on expanding their service offerings.”