BPOC and FACP Acquire basys and Merge New Company with ISSI


BPOC and FACP acquisition of basys, a portfolio company of WindRose, and merger with ISSI


BPOC and Five Arrows Capital Partners (“FACP”) recently acquired basys LLC (“basys” or the “Company”), a portfolio company of WindRose Health Investors (“WindRose”). In connection with the acquisition of basys, BPOC and FACP merged the Company with their existing portfolio company, Innovative Software Solutions, Inc. (“ISSI”), to form an industry leader in multiemployer benefits solutions. Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to BPOC and Five Arrows Capital Partners on this transaction.


BPOC is a private equity firm that invests exclusively in healthcare companies and is one of the nation's most experienced investors in the industry having raised five funds with total capital commitments of nearly $1.8 billion. BPOC has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations. BPOC is headquartered in Chicago, Illinois.

FACP is the North American corporate private equity arm of Rothschild & Co's Merchant Banking business. FACP is focused on investing in middle market companies with highly defensible market positions, strong management teams, business models with high visibility of organic unit volume growth and strong free cash flow conversion, and multiple operational levers that can be used to unlock latent value. FACP is headquartered in New York, New York.

basys specializes in benefits administration software for the Taft-Hartley community, providing integrated technology solutions that help trust fund offices, national multiemployer plans and third-party administrators accurately and efficiently serve millions of members across the United States and Canada. basys software suites, web-based portals and hosting services deliver cost-effective, reliable health and pension benefits processing, fund office administration, reporting and member service. basys is headquartered in Baltimore, Maryland.

WindRose is a private equity firm that makes investments in companies that operate within the services sectors of the healthcare industry. WindRose focuses on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose is headquartered in New York, New York.

ISSI is a leading provider of benefit administration technology solutions and services to the multiemployer market in the U.S. and Canada. ISSI has a proven track record of successful software deployments, and complex computer system implementations for health/welfare plans, defined benefit/contribution plans, 401(k) plans, SUB plans, as well as cutting-edge solutions for EDI/electronic claims processing. ISSI is headquartered in Maple Shade, New Jersey.

BPOC and FACP acquisition of basys, a portfolio company of WindRose, and merger with ISSI

January 2022
BPOC and Five Arrows Capital Partners
M&A - Buyside
Healthcare IT & Services
Target Geography
North America
Acquiror Geography
North America