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™,
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™. 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@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
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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
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