Private equity firm acquires comp care provider
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Stone Point Capital L.L.C. said Friday it has agreed to acquire a majority interest in Genex Services L.L.C.
Financial terms were not disclosed. The transaction is expected to close in the first quarter of 2018, Genex Services said in a statement.
Genex Services is a provider of managed care services for injured and disabled workers. Stone Point Capital is a private equity firm based in Greenwich, Connecticut.
“This transaction renews a successful partnership between Genex and Stone Point,” Peter Madeja, president and CEO of Wayne, Pennsylvania-based Genex Services, said in a statement. “Stone Point had previously acquired the company in 2007 before selling to the Apax Funds in 2014. Both Apax Partners and Stone Point have been strong business partners of Genex and supported the expansion of its service capabilities both organically and through acquisitions.”
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