Salt Lake City, UT – MetaSource, LLC (“MetaSource”), a leading provider of technology-enabled business process outsourcing and digital transformation solutions, announced the recent closing of a majority recapitalization led by Eos Partners, L.P. and its affiliates (collectively, “Eos”), a New York based private investment firm. Terms of the transaction were not disclosed.
MetaSource’s senior management team invested in the transaction alongside Eos and will continue to lead the business. Longshore Capital Partners (“Longshore”), a private equity firm based in Chicago, IL and MetaSource’s previous owner, sold the majority of its equity stake in the company. Longshore continues to maintain a minority equity stake in the business and maintains representation on the company’s board.
Adam Östhed, MetaSource’s CEO, commented on the transaction. “We are thrilled to enter the next stage of MetaSource’s evolution with the backing of Eos. Our team is grateful for the support that Longshore has provided over the last several years, and we are glad that they will remain investors in the business. It’s an exciting time for us. We believe that the current environment affords a ‘wind at our back,’ as our clients seek to reduce costs, create efficiencies and accelerate digital transformation initiatives.”
Brendan Moore, Managing Director at Eos, also commented. “We have been very impressed with Adam and his management team and look forward to partnering with them to support the company’s next chapter of growth. In addition to organic growth initiatives, we look forward to building upon the company’s successful track record of acquiring and integrating complementary businesses – with a focus on opportunities that expand the company’s service offering, strengthen its presence in key verticals and enhance its technology platforms.”
Debt financing for the transaction was provided through a new senior credit facility led by Twin Brook Capital Partners. Raymond James & Associates served as financial advisor to MetaSource. Piper Sandler & Co. served as sole placement agent for the debt financing. Winston & Strawn LLP, through separate transaction teams, served as legal counsel to both MetaSource and Eos.
MetaSource is a Digital Transformation Solutions provider, focused on Business Process Outsourcing (BPO) / Business Process Management (BPM) services integrated with Enterprise Content Management (ECM), workflow solutions, compliance services, and customer experience processes. With offices in 8 U.S. states and over 700 employees, MetaSource helps its clients manage risk, improve quality, increase efficiency and realize their most important goals. MetaSource serves a wide variety of industries such as financial services, government, healthcare, retail and transportation. MetaSource solutions enable its clients to focus on their core business while MetaSource does the rest. For more information, please visit www.metasource.com.
About Eos Partners
Formed in 1994, Eos is an investment firm with a decades-long track record of making private equity investments in middle-market companies. Eos partners with management teams to expand and strengthen their capabilities, accelerate growth both organically and through acquisition, and grow these businesses into larger scale, leading enterprises. For more information, please visit www.eospartners.com.
Longshore is a private equity manager investing out of its inaugural $210 million fund. The firm has extensive experience partnering with founders and management teams to help accelerate growth through the systematic execution of a shared strategic plan. For more information, please visit www.longshorecp.com.