Align Capital Partners (ACP) has acquired Counsel Press, a provider of outsourced legal services, from Gladstone Investment Corporation.
Counsel Press provides state and federal appellate filing support services to attorneys and clients for preparing, filing and serving appeals. The company’s services include court rules and document preparation, litigation workflow, and legal research and writing.
According to Counsel Press, it is the largest and only nationwide provider of appellate services in the United States. The company prepares and files over 8,000 appeals annually while working with over 2,900 law firms – including 98 of the Am Law 100 – located within all 50 states, with over 8,500 filings in 81 jurisdictions nationwide and internationally.
Counsel Press’ operations include fully staffed offices in 12 locations nationwide and production centers in 6 locations from coast to coast. The company, led by CEO Scott Thompson, was founded in 1938 and is headquartered in New York City.
Gladstone acquired Counsel Press in March 2015 from The Dolan Company, a Minneapolis-headquartered media and business information company.
“Gladstone Investment has enjoyed a strong partnership with Counsel Press and its talented management team over many years. We are proud to have supported the business through a period of transformation and growth, both organically and through acquisition,” said Erika Highland, a managing director at Gladstone. “The entire Counsel Press management team has achieved outstanding results in building upon its legacy of operational excellence and we wish them continued success.”
“As Counsel Press looks toward future expansion and evolution, we are thrilled to partner with the ACP team to help accelerate growth,” said Mr. Thompson. “Counsel Press is confident that our consultative approach, subject matter expertise and years of experience provides us with a great foundation to support legal proceedings on a larger scale.”
ACP partnered on this transaction with the company’s existing management team to support growth initiatives and build a diversified legal services platform.
“Since we first met the team at Counsel Press, we’ve been impressed by the company’s market expertise, operational excellence and collaborative culture,” said Matt Iodice, a partner at ACP. “Counsel Press helps its clients navigate a complicated segment of our legal system by pairing talented industry professionals with unique client-facing technology. As the industry becomes increasingly complex, ACP believes that it is well equipped to help Counsel Press pursue add-on growth initiatives and support the continued evaluation of the company’s operating resources.”
ACP invests from $20 million to $60 million in North American-based companies that have from $3 million to $15 million of EBITDA and enterprise values of up to $150 million. Sectors of interest include software and tech-enabled services, professional business services, industrial services, specialty manufacturing and specialty distribution. ACP has offices in Dallas and Cleveland.
In November 2022, ACP closed its third fund, Align Capital Partners Fund III LP, above target with $620 million of capital commitments. With the closing of this fund, the firm has raised approximately $1.4 billion since its founding in 2016.
In addition to Mr. Iodice, the ACP transaction team included Managing Partner Rob Langley, Operating Partner Joe Eazor, Vice President Matt Bowen and Senior Associate Vijay Senthilkumar.
Gladstone Investment (NASDAQ: GAIN) makes debt and equity investments in US-based small to middle-market businesses. The firm invests up to $75 million of debt and equity in companies that have from $4 million to $15 million in EBITDA. Gladstone Investment is based in McLean, Virginia
JEGI CLARITY was the financial advisor to Counsel Press and Gladstone on this transaction.
© 2023 Private Equity Professional | October 27, 2023
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- Source: https://peprofessional.com/blog/2023/10/27/align-moves-into-legal-services-sector-with-buy-of-counsel-press/
