TSCP Completes Add-On Merger – Iron Data Solutions and Versa Systems
St. Louis, Mo. (January 6, 2010) – Iron Data Solutions LLC, a portfolio company of Thompson Street Capital Partners, a private equity firm based in St. Louis, Mo., announced today that it has completed a merger with Versa Systems of Toronto, Canada. Versa (www.versasys.com) is a leading provider of regulatory software solutions for government agencies throughout North America in addition to providing case management software used to manage social security disability claims for federal and state agencies. Iron Data (www.irondata.com) is a private company that develops and manages proprietary data processing systems on behalf of government and commercial clients. Terms of the transaction were not announced.
Versa’s regulatory applications manage more than 1,400 license types for more than five million license holders in 30 federal and state agencies. They also provide disability determination case management software to 17 states and territories throughout the United States. Brock Philp, CEO of Versa Systems, said “This is a good combination. Iron Data has the capability to support our clients and the company’s management and technical team, and will be able to assist us in growing the business.”
Iron Data is based in Atlanta, Ga., with seven offices and more than 300 employees. Iron Data offers a comprehensive suite of solutions, called Intelligent Process Management, that assess, improve, manage and monitor challenging operational process issues for clients in two key verticals: public sector and transportation/logistics.
Bill Willhite, executive vice president of Thompson Street said, “We’re very pleased to complete the merger of Iron Data and Versa Systems. Both companies are acknowledged leaders in the disability claims processing market. In addition, Versa System’s regulatory licensing business will compliment Iron Data’s regulatory case management business.”