BOSTON, April 21 /PRNewswire/ -- Versailles Group, Ltd. (http://www.versaillesgroup.com) announced today Accentus, Inc. (http://www.accentus.ca) has been acquired by High Road Capital Partners (http://www.highroadcap.com) of New York.
Based in Ottawa, Ontario, Accentus is the largest provider in the Canadian outsourced medical transcription industry. Accentus provides medical transcription and editing services to over half of all hospitals, clinics, and independent physician groups throughout Canada.
Versailles Group, a 22-year-old Boston-based investment bank that specializes in international mergers, acquisitions, and divestitures, advised Accentus' shareholders on the transaction. Versailles Group has worked with companies in the U.S., Europe, Canada, and Latin America.
"With more than two decades of experience, Versailles Group is the expert in finding the right buyer for its domestic and international clients," said Don Grava, founder and president. "We are pleased that we successfully did so for Accentus."
"Accentus has been a leader in its industry for nearly a decade," he said. "When owners Steve and Rod Rogers retained Versailles Group for their divestiture, they knew that the combination of Versailles Group's skill and Accentus' performance would net them a superior valuation and a successful transaction. The clients' expectations were surpassed."
Versailles Group had previously sold two other businesses for the Rogers Family, Taima Corporation to Convergys Corporation and The PSC Communications Group Inc. to MacDonald Dettwiler & Associates.
Stephen Rogers, CEO of Accentus, and a significant investor in the divestiture along with brother and president Roderick Rogers, said, "Accentus has played a key role in developing the market for outsourced medical transcription and editing services in Canada." Rogers said that he and his brother "saw tremendous opportunity to accelerate Accentus' growth in partnership with High Road while continuing to provide exceptional service to our customers."
Senior debt financing for the transaction was provided by Bank of Montreal. Subordinated debt financing was provided by Bank of Montreal Capital Corporation, which invested along with High Road and Accentus management.
Transaction consideration was not disclosed.
Versailles Group, Ltd.
Versailles Group, Ltd. is a Boston-based investment bank that specializes in international mergers, acquisitions, and divestitures. Versailles Group's skill, flexibility, and experience have enabled it to successfully close transactions in any economic environment. More information on Versailles Group can be found on its website, http://www.versaillesgroup.com.
For more information: Donald Grava (617) 449-3325 firstname.lastname@example.org
|SOURCE Versailles Group, Ltd.|
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