Ropes & Gray represented BV Investment Partners in the acquisition of the Managed Repair Program division from Alacrity Solutions. Concurrent with the completion of the transaction, the Managed Repair division will operate under a new brand name, Altimeter Solutions Group. The acquisition was announced on Jan. 21 in a press release.
The acquisition marks the first investment from BV Investment Partners Fund XII, a $2.465 billion fund focused on partnering with high-quality, founder- and management-led businesses in the tech-enabled business services and solutions sectors. BV Investment Partners Fund XI will also invest in the transaction.
Altimeter Solutions Group provides tech-enabled, end-to-end managed repair solutions for property insurance claims, combining proprietary job management technology, data-driven oversight, and a nationwide network of credentialed restoration contractors.
BV Investment Partners is an established sector-focused private equity firm in North America with over $7.5 billion of assets under management.
The deal team included private equity partners Tim Castelli and Andrew Pomranke, finance partner Greg Bauer, employment partner Jen Cormier, litigation & enforcement partner Charlie Zagnoli, IP transactions partner Emily Karlberg, and tax partners Aaron Harsh and Amanda Holt.
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