Morgan Stanley Expansion Capital Completes Sale of HighQ Solutions Limited
July 29 2019 - 12:00PM
Business Wire
Investment funds managed by Morgan Stanley Expansion Capital
(“Expansion Capital”) announced the sale of their interest in HighQ
Solutions Limited (“HighQ”), a leading collaboration platform for
legal and regulated industries, to Thomson Reuters. HighQ provides
secure cloud-based business collaboration, workflow automation and
client engagement software to over 400 customers, including more
than half of the top 100 global law firms. In December 2015,
Expansion Capital invested in founder-backed HighQ in a transaction
designed to accelerate the company’s growth, drive further
expansion in North America and recapitalize select holders. The
company is headquartered in London with offices in the United
States, Germany, the Netherlands, Australia and India.
HighQ represented a unique opportunity for Expansion Capital to
partner with the founder and executive team of a leading
collaboration SaaS provider in the company’s first and only
institutional fundraise. Expansion Capital worked closely with
HighQ to drive growth through both organic and strategic
initiatives and the successful acquisition of competitor Legal
Anywhere, an Oregon-based provider of collaboration and file
sharing solutions for the legal industry. Expansion Capital also
partnered with the company to grow its North American commercial
go-to-market presence and augment its executive team and Board of
Directors.
“We were attracted to HighQ Solutions given its capital
efficient founder-bootstrapped heritage and strong product
addressing a large and compelling market opportunity. Over the
course of our investment, HighQ generated considerable organic
growth driven by geographic and vertical expansion, as well as
through the acquisition of a competing business. We were pleased to
be a partner to HighQ and thoroughly enjoyed working closely with
management and the team. We are excited for HighQ to be partnering
with such a high quality strategic buyer,” said Robert Bassman,
Managing Director, Morgan Stanley.
“Morgan Stanley Expansion Capital has been a great partner to
HighQ, supporting us not only with additional growth capital, but
also with the thought leadership and creativity necessary to help
us achieve our strategic growth objectives. They were instrumental
in helping us recruit executives and an independent board member as
well as execute the Legal Anywhere acquisition and the sale of
HighQ,” said Ajay Patel, Co-Founder and CEO of HighQ.
Prior to Morgan Stanley Expansion Capital’s involvement, HighQ
was majority owned by its two co-founders, both of whom were
pioneers in the legal collaboration software industry. During the
Fund’s investment period, Morgan Stanley also became a HighQ
customer.
Other investors in HighQ included One Peak Partners and Goldman
Sachs.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private
investment platform within Morgan Stanley Investment Management.
Funds managed by Morgan Stanley Expansion Capital target growth
equity and credit investments within technology, healthcare,
consumer, digital media and other high growth sectors. For over
three decades, Morgan Stanley Expansion Capital has successfully
pursued growth investment opportunities and has completed
investments in over 190 companies leveraging the global brand and
network of Morgan Stanley. For further information about Morgan
Stanley Expansion Capital, please visit
www.morganstanley.com/im/expansioncapital.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has more than 665 investment
professionals around the world and $497 billion in assets under
management or supervision as of June 30, 2019. Morgan Stanley
Investment Management strives to provide outstanding long-term
investment performance, service and a comprehensive suite of
investment management solutions to a diverse client base, which
includes governments, institutions, corporations and individuals
worldwide. For further information about Morgan Stanley Investment
Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing investment banking, securities, wealth management
and investment management services. With offices in more than 41
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
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