Today’s issue of WorkCompRecap features the announcement that private equity firm Stone Point Capital has entered into a definitive agreement to acquire a majority interest in Genex Services from funds advised by Apax Partners.
The transaction actually renews a partnership between Genex and Stone Point, which had previously acquired the company in 2007, before selling to the Apax Funds in 2014. Genex noted that both Apax and Stone Point have been strong business partners and supported expansion of its services, both organically and through acquisitions. SunTrust Robinson Humphrey served as the exclusive strategic and financial advisor to Genex, and the transaction is expected to close in the first quarter of 2018.
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