Data Dimensions, a Janesville-based provider of business process automation services, said Aug. 5 it completed the acquisition of WorkCompEDI, a New York-based electronic data exchange (EDI) business. Terms weren't disclosed.
Based in Holbrook, New York, WorkCompEDI is a property and casualty EDI clearinghouse and technology services provider, officials said.
The combined companies will operate under the Data Dimensions brand with the aim of becoming the premier technology services organization in the property and casualty (P&C) industry, officials said.
“I’m very proud to announce our two companies joining forces; WorkCompEDI has an impressive track record of creating new and exciting solutions and services that have positively changed the market,” Bryan Doyle, Data Dimensions' president and CEO, said in a statement. “WorkCompEDI’s technology suite of products and services, combined with Data Dimensions’ scale and automation offerings, represents an enormous opportunity that will expand innovation, improve value and create tailored solutions for our clients and partners.”
Marc Menendez, WorkCompEDI co-founder and CEO, will be chief solutions officer and general manager of EDI services with Data Dimensions.
“The combination will allow us to dramatically extend our market reach and help our group achieve the full potential of our future-state vision for the P&C market, and beyond,” Menendez said in a statement. “Our new organization will undoubtedly deliver on the commitment of being a vessel for innovative growth in the industry.”
Data Dimensions is a portfolio firm of St. Louis-based private equity investor Thompson Street Capital Partners, which acquired Data Dimensions in 2019.
Led by managing partner Jim Cooper, Thompson Street invests in founder-led, middle-market businesses in the life sciences and health care, software and technology, and business and consumer services and products sectors. Founded in 2000, the firm has acquired more than 150 companies and has managed more than $2.6 billion in equity. The firm partners with management teams to increase value by accelerating growth, both organically and through acquisitions. It is one of the region's largest privately held companies, with $800 million in 2019 revenue.
