Mangrove Announces Launch of New Platform, Sphere Investigations, with Investments in PHENIX Investigations and Fraud Sniffr

Mangrove Equity Partners is pleased to announce the launch of its newest platform, Sphere Investigations, LLC, to pursue investments in high-quality investigation services firms that stand out in a fragmented industry.

Sphere was formed by Mangrove in partnership with Sunlake Capital Partners and recently completed its first two acquisitions within the strategy with investments in PHENIX Investigations, Inc. and Fraud Sniffr, Inc.

With over 30 years of experience, PHENIX provides comprehensive investigative services including asset searches, background investigations, physical surveillance and customized complex corporate investigations. PHENIX has performed thousands of engagements for major law firms, multinational corporations and various public figures, often delivering decisive results in connection with complex, high-value investigative matters.

Founded in 2013, Fraud Sniffr provides social media investigations, physical surveillance and medical canvasses to support fraud investigations within the insurance industry. Customers value Fraud Sniffr’s detailed and accurate reports, highly responsive customer service and quick turnaround times on report delivery. Fraud Sniffr serves major insurers, third party administrators and law firms as clients.

Brian Bauer, President of PHENIX, shared, “We couldn’t be more excited about the future of PHENIX and our partnership. Being a part of Sphere offers the opportunity to accelerate our next phase of growth, provide additional opportunities for our employees, and enhance our service offering as part of a larger investigations platform.”

Marci De Vries, CEO of Fraud Sniffr, said, “We see tremendous opportunity to grow our business within the investigative services industry, and to partner with similar, high quality investigative services firms to bolster that growth and expand our capabilities. We are excited to join with Mangrove and Sunlake in this venture.”

Mangrove and Sphere are seeking to invest in additional investigative services businesses with revenues from $2 million to $20 million.

About Mangrove Equity Partners: Mangrove Equity Partners strives to deliver uncommon value to those we partner and work with, including business owners, management teams and their employees and the intermediaries who help bring us together. For more information, please visit www.mangroveequity.com.