Focused on the crossroads of insurance,
healthcare services, investment services,
and the technologies that serve those sectors.
Zenith American Solutions
a portfolio company of
Water Street
was acquired by
Beecken Petty O'Keefe and Company
Financial advisor to Zenith American Solutions December 2017
Zenith American Solutions Acquired by Beecken Petty O'Keefe & Company
Industry: Insurance, Healthcare Services
Type: Sell-Side M&A, Capital Raise

Zenith American Solutions, Inc. (“Zenith American”) announced today that it has been acquired in a transaction led by Chicago-based Beecken Petty O’Keefe & Company (“BPOC”). BPOC acquired the company from Water Street Healthcare Partners, LLC, a strategic investor focused exclusively on the healthcare industry, which grew Zenith American into the nation’s largest independent third-party administrator of benefits to Taft-Hartley trust funds during its more than nine years of ownership.

Zenith American Solutions is the largest independent third-party administrator in the nation focused on delivering innovative services to Taft-Hartley trust funds, trade associations, government entities, and corporate employers. BPOC is a healthcare private equity firm, focused on investments in middle-market companies poised for strong, transformational growth operating in the healthcare industry.

Zenith American is enthusiastic to join the highly regarded entities under the BPOC umbrella. “We’re excited about the new ownership group and look forward to the opportunities it will bring to us. With BPOC as our long-term investor, we expect that our footprint in the Taft-Hartley, governmental and single employer administration space will continue to experience fast organic growth, while we strive to deliver the highest levels of service to our Funds, clients and their respective participants,” said Art Schultz, CEO, Zenith American. Mr. Schultz will continue to lead Zenith American under the new ownership structure, and have a seat on the BPOC board.

“We welcome Zenith American employees and the management team to the BPOC family of companies, said Troy Phillips, Managing Director, BPOC. We believe that Zenith American gives us the strongest player in the Taft-Hartley administration field poised for significant growth.”

Zenith American will continue normal operations with no expected changes to management, branding, or delivery of services performed. The acquisition is effective immediately. Financial terms are not being disclosed.