Kaufman Hall, a Skokie, Ill.-based consulting firm and software provider, has forged an agreement to take on a major private-equity backer, Chicago-based Madison Dearborn Partners.
The transaction already has received an early termination notice from the Federal Trade Commission, which means it will be allowed to proceed.
The strategic investment from Madison Dearborn will enable it to expand services and pursue potential acquisitions. Its current managing directors will continue to lead the firm, Kaufman Hall said in a statement.
“Madison Dearborn has a proven track record of supporting both healthcare and software companies, and they have shown us that they truly understand and support our talented staff, align with our commitment to client service, and fit well with our unique and client-centered culture,” said Kenneth Kaufman, the firm's chair, in the statement.
In the same statement, Tim Sullivan, who heads the healthcare team at Madison Dearborn, called Kaufman Hall “a highly respected and influential firm.”
“They are trusted counselors and providers of software to some of the nation's top healthcare organizations and we see great potential for their continued growth and expansion,” he added.
Financial terms were undisclosed. The deal will be completed within the next several weeks. Executives at the firm declined to disclose current financials.
Kaufman Hall, founded in 1985, offers management consulting services that cover not only M&A, but also capital planning, budgeting, debt transactions and performance improvement. It also offers related software thanks to its April acquisition of Axiom EPM. Clients are in healthcare, higher education, insurance, banking and other industries.
Follow Beth Kutscher on Twitter: @MHbkutscher
