A Janesville-based document and data management company has been acquired for a second time in the past six years.
Data Dimensions, which also has offices in Iowa, Kentucky and Florida, was recently acquired by St. Louis private equity firm Thompson Street Capital Partners. Thompson Street made the deal in partnership with Chicago-based venture capital firm Sandbox Insuretech Ventures.
Terms of the acquisition were not disclosed.
Data Dimensions, which has about 1,000 employees, was previously owned by Tampa, Fla.-based HealthEdge Investment Partners, which bought the Wisconsin company in 2014.
“This is an exciting new phase for Data Dimensions. Thompson Street has a proven track record of building companies through technological innovation and acquisitions,” said Jon Boumstein, CEO of Data Dimensions, in a press release. “We are confident this partnership will not only further our current reputation as an industry leader but position our company as a leader in new markets as well.”
Data Dimension serves companies operating within property and casualty insurance, financial services and government. In 2010, Data Dimensions opened a new, 20,000-square-foot Tier III data center in Janesville.
The company reported revenue of $72.7 million for 2015, when it ranked No. 1,869 on the Inc. 5000 2016 list.
“Data is one of the most valuable resources of the insurance industry and Data Dimensions occupies a critical position at the front-end of the data value chain,” said Chris Zock, managing director at Sandbox.
