NEW YORK – Cadex Solutions Corporation ("Cadex"), in partnership with Trivest Partners LP ("Trivest"), is pleased to announce it has acquired Insurance Recovery Group ("IRG") and its subsidiary, Insurance Subrogation Group ("ISG"), collectively referred to as IRG. The acquisition of IRG expands upon Cadex's foundational insurance subrogation capabilities, which were established with the acquisition of TranSubro in 2021.

Founded in 1994 and headquartered in Marlborough, MA, IRG's professional team has extensive experience providing expert insurance subrogation and second injury fund recovery services. IRG’s clients include numerous insurance companies and self-insured businesses. IRG handles all lines of subrogation, including auto, property, workers’ compensation, inland marine, and fiduciary recovery. IRG is one of the foremost experts and nationwide leaders in second injury fund recovery.

Since 2019, IRG has been led by insurance industry veteran Hans Hagen and a tenured staff of insurance experts who have built a client-first culture.

“I am thrilled that IRG is now part of the Cadex family. My team and I are eager to reap the benefits of Cadex’s well-established leadership and look forward to growing as part of the Cadex organization," said Hans Hagen, IRG President. "The extensive experience of our claims professionals and attorneys is unmatched in the industry. We are ready to add value to Cadex’s order-to-cash suite of solutions."

Cadex's CEO, John Fisher, added, "I am excited about the addition of IRG as it is an organization with a stellar reputation for providing expert services across the insurance subrogation industry. This addition propels Cadex’s goals of being in a ‘Category of One.’ Unlike traditional Order-to-Cash organizations, we don’t limit our purview to AR management; we’re focused on ALL revenue recovery, regardless of where it may be.”

Forest Wester, Managing Partner at Trivest, stated, “Hans has built an impressive organization and a talented team of insurance recovery professionals and legal associates who will add incredible value to and expand upon Cadex’s insurance recovery services. We look forward to working with Hans and the IRG team for years to come."

NEW YORK – Cadex Solutions Corporation ("Cadex"), in partnership with Trivest Partners LP ("Trivest"), is pleased to announce it has acquired Receivables Control Corporation ("RCC"). Founded in 1970, RCC is a trusted leader in global commercial debt recovery that offers a comprehensive suite of accounts receivable management solutions, including pre-collections, first-party and third-party collections, commercial asset recovery and liquidations, and consulting services.

Headquartered in Maple Grove, MN, RCC has built a reputation for delivering outstanding recovery results and guidance to its diverse portfolio of over 200 clients. The core of RCC's approach is based on a firm commitment to recruiting and developing its collectors, who bring decades of experience, success, and a passion for the work. This commitment is matched by an unwavering emphasis on inventory management and collection work standards. Additionally, RCC leverages its management's subject-matter expertise to provide portfolio insight and process enhancement recommendations to its clients.

The RCC acquisition expands Cadex's capabilities to build the premier commercial order-to-cash management solutions provider. RCC enhances Cadex's client portfolio, financial performance, and operational excellence in third-party commercial collections and asset liquidations within the company's Order-to-Cash service offering.

“I have been blessed to work with the most energetic and loyal group of people at RCC for over 40 years, so entrusting someone with my team and company was emotionally and psychologically challenging, to say the least," said Luke Vidor, RCC President/CEO. "Cadex's CEO, John Fisher, is someone I have known for 20 years, so I was able to have frank discussions about the continued growth opportunities presented to RCC as part of Cadex. I needed to find a well-respected and well-managed buyer who aligned with RCC's values. I found that with Cadex and Trivest, and I could not be more excited about the future of the RCC team!"

Forest Wester, Managing Partner at Trivest, stated, "We are pleased to welcome RCC to Cadex and Trivest. Luke's organizational stewardship and the RCC team's talent created the premier commercial collection agency in the US. It has been a pleasure working with Luke to help him realize his goals for RCC and its employees, including the second generation of Vidors who are helping to lead the company."

Cadex's CEO, John Fisher, added, "We are ecstatic to join forces with RCC, and I am privileged to have the opportunity to work with such a talented organization. Their unparalleled expertise, industry-leading practices, and passion for client recovery results will greatly enhance the depth of Cadex's service offering. Luke, the RCC leadership team, and I are also excited to offer their clients an expanded service offering, including global service delivery in collections, digital transformation capabilities, AI/ML, and order-to-cash outsourcing. Given the subject matter expertise of the RCC team, this transaction is a force multiplier for Cadex. The sky is the limit for what we can achieve for our clients worldwide!"

Cadex Solutions Corporation ("Cadex") is building the premier provider of commercial order-to-cash management solutions. By combining the power of people with cutting-edge technology, Cadex reduces the complexity of the life cycle between order placement and payment processing for clients worldwide. Cadex leverages its proprietary technology and 200+ years of combined experience to deliver efficient and effective custom solutions.

Cadex has over 900 employees serving 1,900+ customers in more than 30 languages across various business sectors and international locations, including the US, Colombia, Brazil, Romania, Italy, India, Singapore, and South Africa.

MIAMI--(BUSINESS WIRE)--Trivest Partners (“Trivest”) is pleased to announce its portfolio company Cadex Solutions (“Cadex”) has acquired DAL, Inc. (“DAL”). Founded in 1974, DAL has developed a sterling reputation within the industry for delivering personalized services and enhanced management of commercial receivables for its clients. The DAL acquisition expands the executive leadership and industry coverage of Cadex Solutions Corporation, a holding company formed by Trivest to build the premier provider of commercial order-to-cash management solutions.

DAL, headquartered in Philadelphia, PA, is a leader in commercial account receivable management and legal recovery services. DAL will operate as its own entity with Donna Daniels assuming the role of President, succeeding her father and founder, Dominick (“Dom”) Longhi. Dom will be retiring after 49 years in the business.

“I started in the industry as a Credit Manager and in 1974, I created DAL to provide Credit Managers with a level of recovery service that I could not find myself,” said Dom Longhi. “I am extremely proud of what my family has built at DAL, with a reputation of personalized service that goes above and beyond our clients’ expectations. When we met Trivest, we were impressed with their founder-owned focus; they understood our values and we found a strong cultural fit between the organizations, including a similar commitment to our clients’ and employees’ success, while providing the opportunity to expand our business. It’s a win/win for DAL!”

Forest Wester, Managing Partner at Trivest, added, “We are pleased to partner with DAL. Their passion for their clients and employees is palpable, while their expertise within commercial collections is second-to-none.”

Cadex CEO, John Fisher, commented, “There is an outstanding cultural fit with the Longhi family including Donna, Debbie, Mike, and Dave. We cannot be happier to add such an outstanding leadership team and employee base to the Cadex family of brands. There is also a tremendous opportunity to provide expanded solutions to DAL clients including international collections, first-party collections, digital transformation capabilities, AI/ML, and order-to-cash outsourcing. We look forward to DAL accentuating our position in the marketplace!”

MIAMI--(BUSINESS WIRE)--Trivest Partners LP (“Trivest”) is pleased to announce the rebranding of its order-to-cash management holding company, BII Services Corp (“BII”), to Cadex Solutions Corporation (“Cadex” or “Company”). The Company’s rebranding includes a new name, logo, tagline, and website.

Cadex was formed to simplify the complexities of the commercial order-to-cash process through digitally enabled services. Cadex solutions include accounts receivable management and debt collection, invoicing, cash application, dispute management, reverse logistics, insurance subrogation and loss of use recovery, and AI/ML predictive modeling through industry-leading technology and global service delivery.

The new Cadex brand serves as the umbrella for a family of brands, which includes ABC-Amega, AG Adjustments, D&S Global Solutions, and TranSubro. Each company remains the service provider that their customers know and trust while benefiting from the knowledge of the Cadex leadership team. Cadex executives bring more than 130 years of combined experience in operations strategy, global service delivery, digital transformation, acquisition planning and integration, growth planning and strategic tactics, brand marketing, and back-office resource management.

Cadex CEO John Fisher commented, “We are ecstatic about the companies and industry veterans we have brought together over the last several years and the creation of the Cadex brand. We believe Cadex is changing the face of the commercial order-to-cash industry with uncompromised service and integrity, advanced technology, industry expertise, global service locations, and a steadfast commitment to continual process improvement for our clients.”

Cadex provides B2B order-to-cash solutions to over 1,000 customers across all industries from locations on five continents. Businesses will find that Cadex offers the technological tools, global reach, and a team of worldwide experts to reduce the complexity of the commercial order-to-cash cycle.

BUFFALO – ABC-Amega, Inc. (“ABC-Amega”) a global, commercial receivables management firm headquartered in Buffalo, NY has been acquired by Trivest Partners (“Trivest”), a private equity firm based in Miami, FL. The acquisition of ABC-Amega, which was completed in June 2023, expands the capabilities of BII Services Corp (“BII”), a holding company formed by Trivest to build the premier provider of commercial order-to-cash management solutions.

ABC-Amega will operate as its own entity with the current executive leadership, including President, Paul Catalano and Chief Financial Officer, Robert States still leading the organization. ABC-Amega’s Chief Executive Officer, David Herer is transitioning his day-to-day duties to John Fisher, BII CEO, but he will continue to advise the organization as a member of the strategic advisory board of BII.

“I first met the team from Trivest in early 2023 to discuss our respective views on the future of the commercial collection industry,” said David Herer. “I was immediately struck by how their business strategy and values paralleled our own: a commitment to provide a complete range of business-to-business, order-to-cash services, performed globally for the world’s greatest companies, through a culture based on caring about people as a family business naturally does. I soon realized that partnering with Trivest and their colleagues at BII would be the best way for ABC-Amega to finally achieve my dream of becoming the biggest, most advanced, most international, and most successful US-based provider in our industry. Two months after completing our transaction, I’m even more convinced and satisfied by my decision to join forces with them.”

Forest Wester, Managing Partner at Trivest, added, “We are pleased to partner with ABC-Amega. Their track record over nearly a century delivering industry-leading commercial collection solutions is remarkable. It has been a pleasure working with David Herer, a third-generation founder, and helping him realize his goals and vision for ABC and its employees.”

BII CEO, John Fisher, commented, “We are thrilled about the transaction. ABC-Amega’s reputation in the industry is renowned, including the exceptional subject-matter expertise of its people and level of service delivered to its clients. ABC also has a long history in international collections, which will now be bolstered by BII’s global delivery centers in Latin America, Europe, South Africa, and Asia. We are excited about the opportunity to bring to ABC’s client base an expanded service offering, including digital transformation capabilities, AI/ML, offshore first-party collections, and order-to-cash outsourcing. There will be no limits to what our organization can do for our clients with the talented and passionate leadership team at ABC-Amega.”

MIAMI — Trivest Partners (“Trivest” or the “Firm”) is pleased to announce it has acquired D&S Global Solutions (“D&S”). Founded in 1997, D&S is a technology-enabled, invoice-to-cash solutions provider focused on the business-to-business market. The D&S acquisitions expands Trivest’s footprint within the commercial receivable management industry with its prior acquisition of AGA.

D&S, headquartered in Austin, TX, was an early adopter of technology to allow for a distributed workforce. The company will continue to be led by the founder, Lonnie Larson, and his talented management team, which oversees proprietary technology and global service delivery capabilities in Latin America, Europe, Africa, and Asia. D&S has grown internationally over the past decade, with expertise in invoice-to-cash solutions for Fortune 500 clients within agriculture, technology, energy, healthcare, telecommunications, and financial services.

“I am extremely proud of my D&S team and the outstanding results we have delivered for our clients with a focus on project performance and customer experience,” said Lonnie Larson. “To be honest, I was not in the market to sell my company; but my discussions with Trivest convinced me that they were the right partner to accelerate our growth through investments in customers, technology, employees, and geographic reach. As important, Trivest understands the D&S culture and vision to deliver world-class solutions for our clients.”

Forest Wester, Partner at Trivest, added, “We are pleased to partner with D&S. They have done an outstanding job over the past two decades of delivering industry-leading solutions within the commercial invoice-to-cash markets. D&S’s proprietary technology, suite of services, and global delivery capabilities provide an attractive opportunity to extend our platform with AGA within the B2B receivable management space.”

AGA CEO, John Fisher, commented, “We could not be happier about the transaction: it provides the opportunity to bring to AGA’s client base an expanded service offering including digital transformation capabilities, first party collections and order-to-cash outsourcing, and global delivery centers. When you add in the opportunity to work with a talented and passionate leadership team at D&S — our ability to deliver transformative solutions for our clients is unlimited!”