Cherry Tree Advises docuLynx
“In 30 years of managing transactions, I’ve not seen the equal of the Cherry Tree team. Quick and thorough analysis, always responsive, incredibly polite and respectful, and driven by the goal of closing the transaction. Bravo! I hope to be a part of other transactions with this incredibly competent and engaged team of investment professionals!”
David M. Melina
LMRC Management & Consulting
The HiGro Group announced that its portfolio company DRS Imaging Services had acquired a majority of the assets of docuLynx, Inc., a leading provider of Document Management Services and Software. Founded in 2004, docuLynx provides Document Management Software and Solutions (“DMSS”) to a large number of clients across the corporate, education, healthcare and government verticals. docuLynx’ solutions span the entire lifecycle of documents to include services such as image capture and digital conversion, workflow management, document storage, and information governance. The Company manages a tenured client roster of over 200 customers nationwide and a base of over 75 employees.
“DRS is thrilled to begin our partnership with docuLynx as the team delivers its breadth of experience and technology solutions to the world’s most sophisticated and loyal clients. I am excited about the possibilities within the next phase of our company and am also proud to retain a talented group of employees eager to work together to create the nation’s largest independent Document Management Services and Software provider,” said Clifford Newman, Chief Executive Officer of DRS.
“We are ecstatic about supporting the mission that DRS leadership has set. We believe that the docuLynx opportunity along with the company’s organic performance is a strong example of what can happen when HiGro partners with great leaders and teams,” stated Ernest Lyles, HiGro Principal and Co-Founder.
Based in Omaha, Nebraska, docuLynx was founded in 2004 and is a provider of document software and technology services to primarily to the Healthcare, Education, Finance and Government verticals. docuLynx has five locations and approximately 75 employees. For more information, visit www.doculynx.com.
Based in Springfield, New Jersey, DRS was founded in 1964 and is a provider of document conversion and technology services primarily to the Healthcare, Education, Finance and Government verticals. DRS has seven locations and 185 employees. For more information, visit www.drsimaging.com.
About The HiGro Group
Based in New York, The HiGro Group is a private equity investment firm focused on impact investing in the business and technology services sector. The HiGro Group is minority owned and controlled. The HiGro Group enlists its investor base of ultra high net worth individuals and family offices to structure and invests in traditional buy-outs of well-established companies with potential for high growth. For more information, visit www.higrogroup.com.
About Cherry Tree & Associates
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for attractive, entrepreneurially-managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, visit www.cherrytree.com.