RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams & Co. announces that Align Networks, Inc. (Align) has received a significant investment from global growth equity firm General Atlantic LLC (General Atlantic). The transaction closed on July 18, 2011. Harris Williams & Co. acted as the exclusive advisor to Align, a portfolio company of H.I.G. Capital, LLC (H.I.G.). The transaction was led by Turner Bredrup, Cheairs Porter and Michael Marcantonio of the firm’s Healthcare & Life Sciences (HCLS) Group, as well as David Kennedy from the firm’s Richmond office.
“Align is a remarkable company with a track record of rapid and consistent growth driven by its ability to provide a unique, value-added service to the workers’ compensation industry. The investment by General Atlantic, a premier growth investor, is a perfect partnership for this rapidly growing business,” said Turner Bredrup, a managing director and head of Harris Williams & Co.’s HCLS Group. Cheairs Porter, a managing director in the HCLS Group, noted, “Align is the second transaction we have completed in the last six months with clients focused on cost containment within the workers’ compensation industry, and our fourth insurance services transaction in the last six months.”
“We are proud to have partnered with the Align founders from the company’s earliest days and to have helped support them in building a unique market leader. We wish the talented Align team much continued success,” added Rick Rosen, executive managing director of H.I.G.