LDiscovery to Acquire Kroll Ontrack
(Thomson Reuters ONE) -
MCLEAN, Va. and NEW YORK, Oct. 21, 2016 (GLOBE NEWSWIRE) -- LDiscovery, LLC, a
technology-enabled eDiscovery services provider, and Corporate Risk Holdings,
LLC, a global leader in diversified risk and information services and parent
company of Kroll Ontrack, announced today a definitive purchase agreement under
which LDiscovery will acquire Kroll Ontrack in an all-cash transaction valued at
approximately $410 million. LDiscovery is a portfolio company of The Carlyle
Group and Revolution Growth.
Serving 12,000 clients worldwide, including some of the world's largest
financial institutions, Fortune 1000 companies and Am Law 100 firms, the
combined organization will have offices in 19 countries with approximately
1,300 employees worldwide.
"By offering best-in-class eDiscovery and data recovery solutions across many
market segments, Kroll Ontrack has built an impressive platform, loyal client
base and a strong leadership position," said Chris Weiler, Chief Executive
Officer of LDiscovery. "We are delighted to welcome Kroll Ontrack employees to
the LDiscovery family and look forward to leveraging our combined expertise to
offer clients innovative eDiscovery solutions and superior client service. With
this combination, LDiscovery customers will have access to Kroll Ontrack's
global footprint, proprietary review platform and the world's best data recovery
services, while Kroll Ontrack customers will leverage LDiscovery's proprietary
suite of eDiscovery technology, including our remote collection tool, ESI
processing platform, eDirect365(TM), and our award-winning Relativity
integrations, as well as the eDiscovery industry's most advanced and robust
hosting infrastructure. There truly is a lot for our combined employee and
client base to be excited about today," said Weiler, who will become Chief
Executive Officer of the combined organization.
"Today's announcement represents another milestone in the ongoing transformation
of Corporate Risk Holdings," commented David R. Fontaine, Corporate Risk
Holdings' Chief Executive Officer. "Partnering with LDiscovery will enable Mark
Williams, Kroll Ontrack's Chief Executive Officer, and his entire team to
continue to advance and grow the business, delivering the same unwavering
commitment to quality and exemplary client-service that clients deserve and have
come to expect. Our Kroll business will continue to work closely with Kroll
Ontrack to meet current and future client needs, drawing upon each
organization's core strengths and capabilities."
"This is a new and exciting chapter for Kroll Ontrack, its employees, and, most
importantly, our clients," said Mark Williams, who will become President and
Chief Operating Officer of the combined company. "Our united company will be
the global leader in white-glove client-service, and will blend the industry's
best and brightest people, backed by unparalleled proprietary software, to
deliver a seamless eDiscovery and data recovery experience for our combined
global client base. We are thrilled to be joining the LDiscovery team."
The transaction, which is subject to customary closing conditions, is expected
to close in the fourth quarter of 2016.
Latham & Watkins LLP is serving as legal advisor and RBC Capital Markets is
serving as M&A advisor to LDiscovery, The Carlyle Group and Revolution Growth
and has provided committed debt financing to LDiscovery in support of the
transaction.
Houlihan Lokey Capital, Inc. is serving as the lead financial advisor on the
transaction with Evercore LLC serving as an additional advisor to Corporate Risk
Holdings. Simpson Thacher & Bartlett LLP is serving as legal advisor to
Corporate Risk Holdings.
About LDiscovery, LLC
Established in 2005 and headquartered in McLean, VA, LDiscovery provides a full
range of legal and technology consulting services to law firms, corporations and
government agencies. Comprised of attorneys, engineers, computer forensic
experts, and litigation support professionals, LDiscovery is a leader in
delivering best in class end-to-end eDiscovery solutions supporting the
litigation, regulatory compliance and internal investigation needs of our
clients. LDiscovery provides data collection and forensic investigation, early
case assessment, electronic discovery and data processing, application software
and data hosting for web-based document reviews, and managed legal review
services. LDiscovery has been recognized as one of the fastest growing
companies in North America by both Inc. Magazine (Inc. 5000) and Deloitte
(Deloitte's Technology Fast 500) and our President, Chris Weiler, was recognized
as a 2014 Ernst & Young Entrepreneur of the Year(TM). Additionally, LDiscovery
is an Orange-level Relativity Best in Service Partner, a Relativity Premium
Hosting Partner, and its data centers are ISO/IEC 27001 Certified. For more
information, please email info(at)ldiscovery.com or visit www.ldiscovery.com.
About Corporate Risk Holdings, LLC
Corporate Risk Holdings is a global leader in diversified risk and information
services, headquartered in New York, NY. Corporate Risk Holdings is the parent
company of: HireRight, a leading global provider of employment background
screening and eligibility solutions; Kroll, a leading global provider of a broad
range of investigative and advisory solutions to help clients identify,
remediate and monitor business risks; and Kroll Ontrack, a leading global
provider of technology-driven services and solutions to help clients manage,
recover, search, analyze, produce and present data efficiently and cost-
effectively.
About Revolution Growth
Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth
invests in companies that can change the world. Its mission is to build
disruptive, innovative businesses that offer consumers more choice, convenience
and control in their lives. By taking a long-term approach and developing a
true, hands-on partnership with entrepreneurs and management teams, Revolution
Growth brings a unique strategy and passion to investing in and building
significant companies. For more information, visit www.revolution.com/growth.
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with $176
billion of assets under management across 128 funds and 170 fund of funds
vehicles as of June 30, 2016. Carlyle's purpose is to invest wisely and create
value on behalf of its investors, many of whom are public pensions. Carlyle
invests across four segments - Corporate Private Equity, Real Assets, Global
Market Strategies and Investment Solutions - in Africa, Asia, Australia, Europe,
the Middle East, North America and South America. Carlyle has expertise in
various industries, including: aerospace, defense & government services,
consumer & retail, energy, financial services, healthcare, industrial, real
estate, technology & business services, telecommunications & media and
transportation. The Carlyle Group employs more than 1,650 people in 35 offices
across six continents. www.carlyle.com
Forward-Looking Statements
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statements identify prospective information. Important factors could cause
actual results to differ, possibly materially, from those stated in the forward-
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Media Contacts:
LDiscovery, LLC:
Linda Kish
Vice President, Marketing
515-276-5558
Corporate Risk Holdings, LLC:
Joele Frank, Wilkinson Brimmer Katcher
Meaghan Repko/Dan Moore
212-355-4449
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: LDiscovery via GlobeNewswire
Datum: 21.10.2016 - 19:55 Uhr
Sprache: Deutsch
News-ID 502158
Anzahl Zeichen: 10669
contact information:
Town:
McLean
Kategorie:
Business News
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