TriPlus Services, Inc.
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TriPlus Services, Inc. - overview
Established
2007
Location
Hopkinton, MA, US
Primary Industry
Insurance
About
TriPlus Services, Inc. is a comprehensive provider of risk management solutions, specializing in claims management, compliance, and operational excellence for the insurance sector. Founded in 2007 in Hopkinton, US, TriPlus Services, Inc. delivers risk management services tailored for the insurance industry.
The company operates without subsidiaries, and there have been no public pivots in their business strategy. CEO Peter Paul Lucas leads the firm, which has successfully completed two deals. In 2021, Oak Hill Capital Partners acquired TriPlus Services, Inc. , with financial terms undisclosed.
TriPlus Services, Inc. provides an extensive suite of solutions across the risk and insurance value chain. Their offerings encompass claims management, regulatory compliance, underwriting, and human capital development, among others. This diverse range is designed to meet the evolving challenges faced by clients in the insurance sector, including insurance companies and corporate risk managers, ensuring efficient operations and enhanced outcomes.
The revenue model of TriPlus Services, Inc. is based on business-to-business transactions, with clients engaging in service agreements for tailored solutions. These include essential services such as claims management and consulting, which are priced based on the scope of work and performance metrics. This structure facilitates strong partnerships and aligns with the operational needs of their clients, particularly in claims management, which is critical for success in the insurance industry.
TriPlus Services, Inc. is planning to expand its product offerings to include innovative solutions targeted at emerging risks in the insurance market. They are also looking to penetrate new geographic regions, specifically targeting North America and Europe by 2025. The acquisition by Oak Hill Capital Partners is expected to support these initiatives through additional resources and strategic guidance to enhance their service delivery and operational capacity.
Current Investors
HGGC, Davies Group Limited, DUP Alberta Investment Management Corporation
Primary Industry
Insurance
Sub Industries
Claims Administration & Processing
Website
www.triplusservices.com
Company Stage
Add-on
Total Amount Raised
Subscriber access only
TriPlus Services, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | TriPlus Services, Inc. | - | ||||||||
| Buyout | Completed | TriPlus Services, Inc. | - |
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