Claims and noticing administrator Prime Clerk has received an undisclosed investment from The Carlyle Group.
The company helps to improve efficiency, accuracy and customer services for the claims administration services industry. Founded in 2013, Prime Clerk develops technology for the bankruptcy administration industry, offering real-time access to graphics and analytics measuring tasks and responsibilities.
Prime has solutions for pre-bankruptcy filing preparation, noticing solutions, claims administration, balloting and tabulation, secure disbursements, strategic communications and call centre support, case specific websites and virtual data rooms. Some of Prime Clerk clients include Toys ‘R Us, Takata Holdings, Avaya, SunEdison, Payless Holdings and Commonwealth of Puerto Rico.
Prime Clerk CEO Shai Waisman said, “Together with Carlyle and our existing management team we will continue our growth trajectory, offering new and innovative services in adjacent business lines, and expanding globally.”
The investment was made by Carlyle Strategic Partners IV, which is a $2.5bn vehicle. The fund closed earlier this year on its hard cap, and triple the size of its predecessor.
Last month, Carlyle Group acquired the employee benefits and payroll solution company BenefitMall from an investor group which was led by Austin Ventures. While the deal was undisclosed, the firm used its $1bn Carlyle Global Financial Services Partners II fund.
The firm is also recently acquired Prima Solutions, a software developer for insurance providers, in an undisclosed deal. To complete the transaction, Carlyle used its Carlyle Europe Technology Partners III, which closed on €657m in May 2015. Last month, Prima Solutions bought the analysis and predictive tool company Tricast to help with technology development and expansion into new markets.
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