BOSTON, Dec. 11, 2024 ~ BV Investment Partners (BV), a private equity firm specializing in the tech-enabled business services, software, and IT services sectors, has announced the sale of Frontline Managed Services to Broad Sky Partners. The sale marks a significant milestone for Frontline, one of the world's largest providers of managed services specifically designed for the legal industry.

Founded in 1987, Frontline has established itself as a leading global provider of white glove managed IT services and revenue cycle management solutions for over 800 law firms. With headquarters in St. Louis and over 1,000 employees worldwide, including locations in the US, Canada, Europe, and Asia, Frontline has solidified its position as a trusted advisor to law firms.

Seelin Naidoo, Chief Executive Officer of Frontline, expressed his gratitude for BV's role in the company's growth over the past five years. He credited BV's operational experience and industry expertise for helping to institutionalize and professionalize the company while strengthening its standing in the industry. Naidoo also highlighted Frontline's technology and solutions that have helped clients become more efficient and increase profitability.

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Matt Kinsey, Managing Partner at BV Investment Partners, shared his confidence in Frontline's potential for success under new ownership. He stated that BV's investment was based on their belief that they could create a differentiated market leader that would enhance customer success and establish a platform for future growth through mergers and acquisitions. During BV's ownership of Frontline, they worked closely with Naidoo and his team to invest further in the business, strengthen senior leadership and sales teams, and complete four strategic acquisitions.

Sam Axelrod, Principal at BV Investment Partners, echoed Kinsey's sentiments about their partnership with Frontline's management team. He praised their dedication to scaling the business and expanding service offerings into new geographies. Axelrod also expressed confidence in Frontline's future prospects as there is still significant market opportunity ahead.

The terms of the transaction were not disclosed. Guggenheim acted as the exclusive sell-side advisor, and Ropes & Gray served as legal advisor to Frontline and BV on this transaction. With the sale to Broad Sky Partners, Frontline is poised for continued growth and success in the legal industry.

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