DFW Capital Partners announced today that it has completed the sale of its portfolio company, Venio Holding Corporation and its subsidiary Keane (collectively “Keane”), to an affiliate of private equity firm Lovell Minnick Partners, LLC. Keane is the leader in providing unclaimed property resolution services to financial services companies.
In 2008, DFW acquired three operating businesses in the unclaimed property services industry, each serving distinct operating segments. The combined businesses were organized under a new name, Venio, under the leadership of one of DFW’s Operating Affiliates, Mike O’Donnell. Under Mike’s leadership, Venio reorganized the operations and technology infrastructure of the original businesses, and professionalized the management team. In 2010, Venio acquired the then-leader in the field, The Keane Organization, combining all operations and establishing the clear leader in unclaimed property services. Today, Keane serves hundreds of the leading mutual funds, transfer agents, corporate issuers, banks, insurance companies and other financial asset custodians – working to help them resolve their unclaimed asset issues, and reunite those assets with their rightful owners or legal heirs.
Mike O’Donnell, Keane’s CEO, commented, “DFW Capital Partners has afforded us both tremendous financial and strategic support from the time of our original acquisition through a major add-on acquisition, and the expansion of our service offerings. Their support over the past five years has enabled us to become the premier outsourced service provider in the unclaimed property marketplace.”
DFW partnered with lender and co-investor with Maranon Capital in the transaction. Keane was a portfolio company of DFW Capital Partners III, L.P. Broadhaven Capital Partners, Inc. represented Keane in the sale.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is backed by both institutional and high-net worth individual investors, and has established a 20+ year track record of success in both building leading companies, and recognizing outstanding returns for its investors. DFW is headquartered in Teaneck, NJ, and maintains an office in Chevy Chase, MD. For more information contact Keith Pennell, Managing Partner, at (201) 836-6000.