M&A Deal Summary

Crest Rock Partners Acquires PPI

On May 16, 2025, private equity firm Crest Rock Partners acquired software company PPI

Acquisition Highlights
  • This is Crest Rock Partners’ 2nd transaction in the Software sector.
  • This is Crest Rock Partners’ 8th transaction in the United States.
  • This is Crest Rock Partners’ 1st transaction in Wisconsin.

M&A Deal Summary

Date 2025-05-16
Target PPI
Sector Software
Buyer(s) Crest Rock Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

PPI

Madison, Wisconsin, United States
PPI provides healthcare and benefits programs with software-as-a-service tech-enabled services, including care management software, electronic health records software, claims processing software, and third-party administrator services. PPI was founded in 1996 and is based in Madison, Wisconsin.

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Buyer(S) 1

DESCRIPTION

Crest Rock Partners is a private equity firm that looks to acquire and invest in businesses that can benefit from an operationally focused investor. The Firm will consider a variety of investment situations including corporate divestitures, companies in transition, buyouts, recapitalizations, and growth capital financings. Crest Rock can invest across the capital structure and seeks to commit $15 to $60 million per investment. Sectors of interest include software, technology, business services, manufacturing, and industrial. Crest Rock Partners was formed in 2019 and is headquartered in Denver, Colorado.


DEAL STATS #
Overall 10 of 10
Sector: Software M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Wisconsin M&A 1 of 1
Country: United States M&A 8 of 8
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-20 Midalloy

St. Louis, Missouri, United States

Midalloy is a value-added supplier of specialty alloy welding consumables and bar and wire rod products that are used in mission-critical applications in demanding end markets, including aerospace, defense, and petrochemical. Midalloy was formed in 1985 and headquartered in St. Louis, Missouri.

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