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Noro-Moseley Partners Announces the Sale of APEX Analytix, Inc. to PNC Equity Partners

05/14/2009

Atlanta, GA - In April 2009, APEX Analytix was acquired by PNC Equity Partners.  APEX provides technology-enabled recovery audit services to more than 175 customers, including over one-third of the Fortune 100.  The Company’s traditional recovery audit services, which are enhanced through the use of proprietary software tools, include detecting and recovering payment errors for its clients. Through its comprehensive service and technology offering, APEX has saved clients in excess of $2 billion in overpayments to date.

"APEX’s product and service offering is highly differentiated, which has allowed the company to attract and retain blue-chip clients,” said Jack Glover, Partner of PNC Equity Partners.  “We were particularly attracted to APEX’s consistent track record of organic growth and future prospects. Now more than ever in this challenging economic environment, companies are seeking additional ways to sustain profitability and improve cash flow.  We believe APEX is uniquely positioned to capture these opportunities and continue expanding its presence in the industry.”

NMP became APEX’s first institutional investor, leading the Company’s Series A financing in 2003.  NMP also led the Company’s Series B financing in 2004.