ST. LOUIS, December 11, 2024--(BUSINESS WIRE)--Frontline Managed Services, a premier global provider of outsourced solutions serving firms in the legal and professional services sectors, has announced a strategic investment by Broad Sky Partners. The private equity firm specializes in collaborating with leading middle-market companies that provide essential services to both business and consumer markets.
Frontline delivers a range of white glove Managed IT Services and Revenue Cycle Management solutions to over 800 law firms, including over 50% of the AM Law 200, in addition to hundreds of mid-sized legal firms. In 2024, Frontline was named #38 out of 501 of the world’s top performing managed service providers in the prestigious 2024 Channels Futures MSP 501 rankings.
"This partnership will accelerate our Company’s journey to build Frontline as the premier provider of Managed IT Services and Revenue Cycle Management for legal and professional services firms," said Seelin Naidoo, CEO of Frontline. "We are excited to partner with Broad Sky to continue our strategic expansion, driving innovation and investing in technology to enhance productivity and deliver even greater value to our clients.
Frontline’s previous lead sponsor will remain involved as a minority investor. "We would like to thank Matt Kinsey, Sam Axelrod and the team at BV Investment Partners for being great partners for the past 5 years as the business has expanded," commented Naidoo.
"We were drawn to Seelin’s leadership and Frontline’s track record of delivering value to clients. We are excited to partner with them in this next chapter," said Evan Azus, Managing Director at Broad Sky Partners. "Broad Sky’s strategic focus is to back great teams providing essential services in thematically growing markets with strong organic and acquisition growth prospects. The opportunity to partner with the Frontline team is emblematic of that strategy. While cybersecurity challenges and data needs have become more complex, Frontline has established itself as a critical partner to its clients in optimizing workflows andcyber preparedness."
Frontline’s leading suite of differentiated service offerings is well-positioned to meet the evolving needs of law firms, as the adoption of outsourcing for technology-driven solutions accelerates. By addressing key pain points, Frontline helps firms secure IT infrastructure and manage real time service solutions including help desk, cybersecurity, network monitoring, improve revenue realization through billing, eBilling and A/R support. With 1,000 skilled employees, including application support specialists, IT engineers, client services and revenue cycle support specialists operating across nine global locations, Frontline stands at the forefront of enabling law firms to navigate the growing demand for outsourcing IT support and technology integration.
Terms of the transaction were not disclosed. Berenson & Company and Harris Williams acted as buy-side advisors, and Morrison Cohen served as legal advisor to Broad Sky Partners on the transaction. Guggenheim Securities acted as the exclusive sell-side advisor and Ropes & Gray served as legal advisor to Frontline.
ABOUT FRONTLINE
Frontline Managed Services is the leading global provider of outsourcing solutions in the legal industry, including Managed IT Services and Revenue Cycle Management. Formerly known as Intelliteach, Frontline Managed Services connects its more than 800 law firm clients with financial and IT services with best in class, innovative, leading to an average 10-times return on investment and 40% reduction in overall operating expenses. Founded in 1987, Frontline Managed Services has approximately 1,000 employees across locations in; St. Louis; Honolulu; New York; Toledo; Toronto; London; Goa, India; and Hyderabad, India, and South Africa. For more information visit www.frontlinems.com.
ABOUT BROAD SKY PARTNERS
Broad Sky Partners is a private equity firm that partners with leading middle market companies that provide essential services to business and consumer end markets. The firm offers a differentiated approach to sector-focused, thematic investing and value creation. Its Portfolio Resource Group is dedicated to helping companies capitalize on growth opportunities. Broad Sky is based in New York City. To learn more, visit www.broadskypartners.com.
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Contacts
Jackie Schofield
Pro-BroadSky@prosek.com
