DRS Holdings acquires assets of docuLynx

The HiGro Group LLC, through its portfolio company DRS Imaging Services, LLC, has acquired a majority of the assets of docuLynx Inc., a provider of Document Management Software and Services, the company said.

Financial terms of the transaction were not disclosed.

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.

Sidley Austin served as legal advisor to HiGro. OFS Capital Corporation (NASDAQ: OFS) and Modern Bank led the debt financing for the transaction.

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 to primarily to the Healthcare, Education, Finance and Government verticals. DRS has seven locations and 185 employees. For more information, visit: www.drsimaging.com

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.

Modern Bank is a privately owned, entrepreneurial bank that provides flexible, competitive and reliable senior debt financing solutions to commercial companies. Modern Bank´s experienced bankers specialize in working with lower middle-market companies and their owners to provide cash flow based financing solutions.