BV backs 30-year-old workforce compliance firm Thomas & Company

What's the deal? BV Investment PartnersDealroom has a profile for this one. Try Dealroom → has made a growth equity investment in Thomas & Company, a Nashville-based workforce compliance platform. The deal, announced in August 2026, partners the private equity firm with chief executive officer Nate Kenney and the company's leadership team.

What does it do? Founded in 1994, Thomas & Company serves large US employers with unemployment cost management, tax exposure management, and verification services. It runs a proprietary records database and technology platform paired with a service model, and employs more than 200 people nationwide.

What's the money for? Kenney said the backing positions the company to "expand our client base, deepen our suite of services and continue investing in technology that simplifies complex employment-related processes."

Who's behind BV? The firm targets tech-enabled business services and solutions, and manages over $7.8 billion in assets. Founded in 1983 and relaunched under new management in 2012, it plans to grow Thomas & Company both organically and through acquisitions.

What did the investors say? Jason Kustka, a partner at BV, called Thomas & Company "the type of tech-enabled services platform we look to back." Vice president Patrick Fabrizio pointed to growth "via acquisitions within the workforce compliance ecosystem."

Who advised? BV was advised by Ropes & Gray. Thomas & Company was advised by McDermott Will & Schulte as legal counsel and Houlihan Lokey as financial advisor.

The signal: As workforce compliance requirements grow more complex, private equity is backing specialised platforms that help employers navigate regulation — with acquisitions positioned as the next lever for scale.

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