|Silverhawk Capital Partners Acquires Discovery Support Services|
Silverhawk Capital Partners (“Silverhawk”), a private investment firm headquartered in Greenwich, Connecticut, has purchased a majority equity stake in Discovery SS Holdings, LLC (d.b.a. Discovery Support Services, (“Discovery” or the “Company”). Terms of the deal and financials of Discovery were not disclosed.
Based in Atlanta, Georgia, the Company is a leading provider of customized information management services to healthcare, insurance, and legal professionals. The Company has agreements with hospitals, clinics and physicians in 30 states to service the release of information (“ROI”) requests made by other healthcare, insurance, governmental or legal entities. Discovery provides scanning, database, HIPPA compliance/review, and delivery services to their clients to fulfill these ROI requests. In addition, the Company provides customized medical document retrieval (“DR”) services to the legal and insurance industry to use in supporting and defending claims. Discovery was founded in 1998 by Jim Jones who will remain with the Company in a senior management position. “Discovery was founded with a focus on customized solutions based upon world class technology and service and Silverhawk’s investment allows us to further establish our leadership position. With their support and our proven competitive advantages, we’re confident that we will experience even greater momentum and accelerate our growth.”, stated Jim Jones.
Silverhawk is excited to be partnering in this investment with Doug Hollman, who at closing assumed the role of President and CEO of Discovery. Until recently, Doug has been a senior executive with Recall Corporation, one of the world's largest information management companies providing document storage and retrieval, digital conversion, data protection and secure destruction services to its customers. Over his 17-year career with Recall, Doug held senior executive positions, which included direct responsibility for Recall’s $100 million North American Document Management division, as well as more recently heading up Recall’s Business Development division, which involved sourcing and closing over 40 acquisitions. Silverhawk believes that the combination of Doug’s experience base and the Discovery business model will create a very attractive platform for growth. “We were attracted to the Discovery business because of its strong leadership, commitment to quality service and the strength of its operating platform, StatusNow. We plan to continue leveraging these assets as we grow through organic sales and strategic acquisition, said Doug Hollman.”
“Discovery’s success to date is a tribute to Jim Jones and his colleagues and we look forward to working with Doug and Jim to build on this success. Discovery is a strong platform in a fragmented industry and this, in combination with its talented management team, creates a solid foundation for growth, said David Scanlan, a Managing Partner with Silverhawk and the Chairman of Discovery”.
About Silverhawk Capital Partners
Silverhawk Capital Partners is an independent investment firm established in 2005 to investment in middle market transactions within the Growth Industrial, Energy/Natural Resources and Business Service sectors. Silverhawk typically invests between $10 million and $50 million of equity capital in growth oriented businesses with revenues ranging from $25 million to $250 million. Silverhawk is currently investing its $150 million debut fund. Silverhawk has offices in Greenwich, Connecticut and Charlotte, North Carolina.
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