|HCC Acquired||| Print ||
Rex Akers, founder of HCC and FDS, has sold his interest in the companies to Lagniappe Health. Lagniappe Health is a portfolio company of Baltimore-based Calvert Street Capital Partners (CSCP), founded in 1994. CSCP buys family-owned companies that operate in fragmented industries with predictable and repetitive demand for the products and services they provide.
Going forward, two longtime HCC and FDS executives will assume responsibility for day-to-day operations. Mike McManus, formerly EVP for business development, will assume the role of president. Tracy Ward, formerly EVP, will serve as COO.
“We were able to find a financial partner that enables us to build upon the very fine products and services offered to all the customers of HCC, FDS, and FDS Specialty Services, as well as to enable us to expand into additional lines of business,” says McManus. FDS Specialty Services, a custom software development company, will be merged into FDS.