Featured case study · Operating Company / Acquisition Modernization
From compliance software to an acquired, modernized operating company
Software Imogenix built for one compliance business became the foundation of a technology relationship, a CTO engagement and ultimately an acquisition—followed by a substantial modernization of the operating business.
Disclosure: Derek Aude founded Imogenix and co-founded Diversified Safety & Compliance. This is not an arm's-length client engagement; it is an example of technology, capital and operating execution working together across businesses he founded.
The starting point
Derek Aude founded Truckers First Compliance to provide DOT compliance services, particularly Driver Qualification File management. The business needed better technology to manage that work, so Imogenix built custom compliance software for it.
The relationship
Diversified Drug Testing & Occupational Health Services, an established Nebraska drug-testing and occupational-health company, became a white-label customer of that software, using it to deliver compliance services to its own customers. As the relationship grew, Diversified retained Imogenix for CTO consulting.
The opportunity
That work provided a detailed view of the business—its customers, systems and workflows. It had established customers and real demand, and meaningful room to improve its systems, automation, service offering and operating infrastructure.
The transaction
Derek Aude formed Diversified Safety & Compliance with operating partners, and the new company acquired the operating assets of Diversified Drug Testing & Occupational Health Services. McQue Capital's lending capability was part of how the acquisition was financed.
The modernization
Imogenix technology and modernization capabilities have been part of the post-acquisition transformation—across the compliance platform, systems, service offering and operating infrastructure.
The result
Since the acquisition, the operating business has approximately doubled both gross and net revenue while its technology, systems, service offering and operating infrastructure have been substantially modernized.