APEX Acquires Document Processor LaserNet

St. Paul, Minn. (October 11, 2010) – APEX, a Minnesota-based statement processing company with offices in St. Paul, MN, Madison, WI, and Dallas, TX, today announced the acquisition of LaserNet, a document processor based in Green Bay, WI. APEX and LaserNet specialize in driving faster collections and reduced call center phone volume for their clients through more effective statement design. Terms of the transaction were not disclosed.

“LaserNet’s like-minded management team and marketplace synergies, combined with our world class systems, will create significant opportunities for our clients and our combined firm going forward,” said Brian W. Kueppers, Founder and Chief Executive Officer of APEX. “Clients of both firms will gain access to the industry’s most advanced electronic statement and electronic payment platform, as well as an enhanced client support and end user experience. LaserNet’s world class facility in Green Bay creates a redundant processing location – another important advantage for all of our clients.”

Said Ane Ohm, President of LaserNet, “We are excited to become a part of APEX. The transition to a combined organization will be seamless for clients and will help both firms grow and expand to new markets.”

Steve Soderling, an APEX board member and principal at Tonka Bay Equity Partners (APEX is a Tonka Bay portfolio company), “This is a strategic acquisition that compliments APEX’s geographic footprint and expands the product and services it offers its customers.” APEX has developed a proprietary electronic statement and payment technology platform for a number of industries, with a special focus on health care.

APEX will consider additional acquisitions of companies pursuing similar business strategies. Said Kueppers, “We believe there is immense opportunity as clients transition to electronic statement solutions like those provided by APEX and LaserNet. Our goal is to provide web-based statement tools, secure archive and retrieval technologies, and timely transaction capabilities for a growing client base throughout the center of the United States. We are in a position to continue to grow as more clients embrace the security and efficiency of electronic document delivery and transaction processing solutions.”

About APEX

APEX specializes in document design, analysis, and delivery. APEX makes client documents such as statements and invoices more efficient, through better and more effective design. APEX pairs design expertise with industry leading customer support to streamline electronic statement and electronic payment platforms and enhance client and end user experiences. APEX was named one of the fastest growing companies in America by Inc. 5000 in 2008, 2009 and 2010.

About LaserNet

Since 1994 LaserNet has provided document delivery solutions to many industries such as healthcare, financial services, transportation, and utilities. LaserNet delivers electronic and printed documents quickly, securely, and accurately every time.

About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2035 or visit tonkabayequity.com.


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