NEW YORK--(BUSINESS WIRE)--Cadex Solutions Corporation ("Cadex"), in partnership with Trivest Partners LP ("Trivest"), is pleased to announce it has acquired Insurance Recovery Group ("IRG") and its subsidiary, Insurance Subrogation Group ("ISG"), collectively referred to as IRG. The acquisition of IRG expands upon Cadex's foundational insurance subrogation capabilities, which were established with the acquisition of TranSubro in 2021.
Founded in 1994 and headquartered in Marlborough, MA, IRG's professional team has extensive experience providing expert insurance subrogation and second injury fund recovery services. IRG’s clients include numerous insurance companies and self-insured businesses. IRG handles all lines of subrogation, including auto, property, workers’ compensation, inland marine, and fiduciary recovery. IRG is one of the foremost experts and nationwide leaders in second injury fund recovery.
Since 2019, IRG has been led by insurance industry veteran Hans Hagen and a tenured staff of insurance experts who have built a client-first culture.
“I am thrilled that IRG is now part of the Cadex family. My team and I are eager to reap the benefits of Cadex’s well-established leadership and look forward to growing as part of the Cadex organization," said Hans Hagen, IRG President. "The extensive experience of our claims professionals and attorneys is unmatched in the industry. We are ready to add value to Cadex’s order-to-cash suite of solutions."
Cadex's CEO, John Fisher, added, "I am excited about the addition of IRG as it is an organization with a stellar reputation for providing expert services across the insurance subrogation industry. This addition propels Cadex’s goals of being in a ‘Category of One.’ Unlike traditional order-to-cash organizations, we don’t limit our purview to AR management; we’re focused on ALL revenue recovery, regardless of where it may be.”
Forest Wester, Managing Partner at Trivest, stated, “Hans has built an impressive organization and a talented team of insurance recovery professionals and legal associates who will add incredible value to and expand upon Cadex’s insurance recovery services. We look forward to working with Hans and the IRG team for years to come."
About Cadex
Cadex Solutions Corporation ("Cadex") is building the premier provider of commercial order-to-cash management solutions. By combining the power of people with cutting-edge technology, Cadex reduces the complexity of the life cycle between order placement and payment processing for clients worldwide. Cadex leverages its proprietary technology and 200+ years of combined experience to deliver efficient and effective custom solutions.
Cadex has over 900 employees serving 1,900+ customers in more than 30 languages across various business sectors and international locations, including the US, Colombia, Brazil, Romania, Italy, India, Singapore, and South Africa. Visit www.cadex-solutions.com to learn more.
About IRG
Founded in 1994 and headquartered in Marlborough, MA, Insurance Recovery Group (IRG) is a national insurance subrogation leader. IRG’s team of lawyers and subrogation specialists work closely with insurance industry experts to handle claims of all types, including specialized recovery services to the workers’ compensation industry through their second injury fund (SIF) experience. IRG provides clients with industry-leading services to maximize recoveries, reduce total costs, and improve their bottom line. Visit http://www.isgfocus.com/irg to learn more.
About Trivest
Trivest Partners LP, with offices in Miami, Charlotte, Chicago, Denver, Los Angeles, New York, and Toronto, is a private investment firm focusing exclusively on supporting and growing founder-led and family-owned businesses in the United States and Canada in control and non-control transactions. Visit www.trivest.com to learn more.
