Tonka Bay Announces the Sale of Apex
December 12th, 2013
MINNETONKA, Minn. (December 11, 2013) —Tonka Bay Equity Partners LLC (“Tonka Bay”) announced the sale of Apex Information Technologies (“Apex”) to Westview Capital Partners, a Boston-based private equity group. Based in St. Paul, Minnesota, Apex is a market leading, technology and data driven revenue cycle management business focused on the healthcare industry.
Tonka Bay partnered with Apex in 2007 when it purchased a control equity position from Founder and CEO Brian Kueppers. Since that time, Apex has experienced tremendous growth by augmenting its service offering through the development of an integrated electronic statement delivery and electronic payment module, building out its management team with several notable key hires, and by completing the 2010 acquisition of LaserNet, based in Green Bay, Wisconsin.
“With an attractive and growing end market, recurring revenue model, and diverse customer base, Apex represented a very attractive opportunity for our firm,” said Steve Soderling, a Principal at Tonka Bay and Apex’s Chairman of the Board. “It has been a pleasure working with Brian and the Apex management team. They have been great partners and are well-positioned to continue to leverage their best-in-class platform to drive the next stage in their growth.”
“I’ve enjoyed working with Tonka Bay since 2007. They have proven to be a good capital partner and sounding board and have allowed me to focus on running my business while supporting me in making investments in the business and completing key personnel additions,” added Brian Kueppers, “as a result, Apex has experienced rapid growth and is positioned as the most advanced company in our industry.”
Based in St. Paul, Minnesota, Apex is a market leading, technology and data driven revenue cycle management business primarily focused on the healthcare industry. Through it proprietary software as a service platform, Apex provides a complete suite of billing cycle solutions. Apex’s website is www.apexinformationtech.com.
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 www.tonkabayequity.com.