Aquiline Capital Partners takes majority ownership stake in Ontellus

Aquiline Capital Partners, a private equity firm based in New York and London, has acquired a majority ownership stake in Ontellus, a provider of tech-enabled medical, billing, and other claims related records procurement for insurance companies and law firms.

Aquiline invested alongside The CapStreet Group, a current investor in the business and management. As part of the transaction, Aquiline provided capital for growth purposes and acquired a majority ownership stake in the company. The financial terms of the transaction were not disclosed.

Aquiline's investment in the company provides resources and capital to support the continued expansion of the company's records retrieval capabilities.

"We're thrilled to join forces with Aquiline and see the many ways that Aquiline's investment and insurance experience will help us grow our company and bring additional services and capabilities to our clients," said Darren Klauser, CEO of Ontellus, "We look forward to working with them as we enter this next chapter."

Jeff Greenberg, chairman and chief executive officer of Aquiline said: "We are excited to partner with Darren and the Ontellus management team to help them build on Ontellus' leading industry position. We believe the company is well-positioned to meet growing demand from record requesters and providers for solutions that address numerous challenges related to exchanging records and utilizing claims information in a secure and compliant manner."

Harris Williams served as the exclusive financial advisor and Wilkie Farr served as the legal advisor to Ontellus. Weil, Gotshal & Manges served as the legal advisor to Aquiline.