M&A Deal Summary

Epiq Systems Acquires Encore Discovery Solutions

On April 4, 2011, Epiq Systems, Inc. acquired business services company Encore Discovery Solutions, Inc. from Ascent Equity Capital, Inc., Primus Capital Funds, Baird Capital and Frontenac for 100M USD

Acquisition Highlights
  • This is Epiq Systems’ 3rd transaction in the Business Services sector.
  • This is Epiq Systems’ 5th largest (disclosed) transaction.
  • This is Epiq Systems’ 5th transaction in the United States.
  • This is Epiq Systems’ 1st transaction in Texas.

M&A Deal Summary

Date 2011-04-04
Target Encore Discovery Solutions, Inc.
Sector Business Services
Buyer(s) Epiq Systems, Inc.
Sellers(s) Ascent Equity Capital, Inc.
Primus Capital Funds
Baird Capital
Frontenac
Deal Type Add-on Acquisition
Deal Value 100M USD

Target

Encore Discovery Solutions, Inc.

The Woodlands, Texas, United States
website
At Encore Discovery Solutions, we support many of the world’s leading law firms and corporations with end-to-end discovery management. Our world-class discovery professionals are experts who help our clients identify and implement the right process and technology for any discovery or similar data-intensive matter. Encore Discovery Solutions, Inc. was formerly known as Encore Legal Solutions, Inc. and changed its name to Encore Discovery Solutions, Inc. in June 2008.

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Buyer(S) 1

Buyer

Epiq Systems, Inc.

Kansas City, Kansas, United States

website


Category Company
Founded 1988
SectorInformation Technology
Employees1,300
Revenue 544M USD (2015)
DESCRIPTION

Epiq Systems, Inc. is a provider of integrated technology and services for the legal profession, including eDiscovery, managed services, bankruptcy, class action and mass tort administration, federal regulatory actions and data breach responses. Our innovative solutions are designed to streamline the administration of litigation, investigations, financial transactions, regulatory compliance and other legal matters. Epiq’s subject-matter experts bring clarity to complexity, create efficiency through expertise and deliver confidence to our clients around the world.


DEAL STATS #
Overall 5 of 12
Sector (Business Services) 3 of 7
Type (Add-on Acquisition) 5 of 10
State (Texas) 1 of 2
Country (United States) 5 of 10
Year (2011) 1 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-01 Jupiter eSources LLC

Oklahoma City, Oklahoma, United States

Jupiter eSources LLC is a develops, supports and markets a proprietary software product, AACER® (Automated Access to Court Electronic Records), that assists creditors including banks, mortgage processors, and their administrative services professionals to streamline processing of their portfolios of loans in bankruptcy cases.

Buy $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-28 De Novo Legal LLC

New York, New York, United States

De Novo Legal LLC is an e-discovery provider with particular prominence in managed review services.

Buy $68M

Seller(S) 4

SELLER

Ascent Equity Capital, Inc.

Chicago, Illinois, United States


Category Private Equity Firm
Founded 2002
SizeSmall
Type Sector Agnostic
DESCRIPTION

Ascent Equity Capital is a private equity firm that looks to partner with proven management when acquiring a companies. Ascent is particularly attracted to businesses with high-margins, low customer attrition, and recurring revenue where new leadership can improve operational performance. The Firm looks to invest up to $1 million per transaction. Sectors of interest include business-to-business services, consumer services/products, financial services, and media/publishing. Ascent Equity Capital (formerly Pinnacle Equity Capital) is based in Chicago and was formed in 2002 by Chad Mollman.


DEAL STATS #
Overall 3 of 3
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-01 Central Security Group, Inc.

Tulsa, Oklahoma, United States

Central Security Group, Inc. is a Full service provider of security alarm monitoring services for primarily residential customers.

Sell -
SELLER

Primus Capital Funds

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1983
PE ASSETS 900M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Primus Capital is a private equity firm focused on investing in established companies in the business services, healthcare and education industry sectors. Primus looks for established, high-growth companies with strong management and predictable/recurring revenues. The Firm will consider both control and minority positions and has a target investment size of $15 to $40 million. Prospective transaction types include growth equity financings, recapitalizations, and management-led buyouts. Primus was formed in 1984 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 14 of 38
Sector (Business Services) 3 of 4
Type (Add-on Acquisition) 7 of 22
State (Texas) 3 of 3
Country (United States) 13 of 37
Year (2011) 2 of 4
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 PathGroup, Inc.

Brentwood, Tennessee, United States

PathGroup, Inc. is a provider of anatomic pathology and clinical lab services throughout the U.S. PathGroup is a physician-led company currently working with more than 70 hospitals and thousands of group practices across the U.S. to deliver quality results with unmatched responsiveness. PathGroup was formed in 1965 and is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-07 G2 Web Services LLC

Bellevue, Washington, United States

G2 Web Services LLC is a provider of merchant compliance monitoring and e-commerce risk management. G2 works globally with acquiring banks, independent sales organizations (ISOs), payment service providers (PSPs) and other acquiring value chain members to identify, mitigate and monitor risk posed by their merchants’ online presences. G2 Web Services LLC was founded in 2004 and is based in Bellevue, Washington.

Buy -
SELLER

Baird Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 3.1B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Baird Capital Partners (BCP) is the US private equity arm of Baird Private Equity. BCP makes investments in middle-market companies based in the US. BCP targets companies valued between $25 and $125 million and looks to invest between $15 and $35 million of equity per transaction. BCP focuses on three primary areas including business services (transaction processing, process outsourcing, professional services), healthcare (outsourcing services, medical products, contract manufacturing), and manufactured products (industrial/commercial, specialty consumer, distribution). BCP is affiliated with Baird Capital Partners Europe, Baird Capital Partners Asia, Baird Venture Partners, and Granville Baird Capital Partners. Baird Capital Partners is based in Chicago, Illinois.


DEAL STATS #
Overall 21 of 42
Sector (Business Services) 4 of 6
Type (Add-on Acquisition) 14 of 26
State (Texas) 1 of 1
Country (United States) 21 of 38
Year (2011) 1 of 3
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-29 Virtual Incision Corp.

Lincoln, Nebraska, United States

Virtual Incision is a developer of invivo robots for use in single incision laparoscopic surgery. The development of Virtual Incision’s technology is an important step in the evolution towards scar-free surgical procedures performed on a robotic platform. Virtual Incision was founded in 2006 and is based in Lincoln, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-08 Jiangsu Xinghe Valve Co.

Yangzhong, China

Jiangsu Xinghe Valve Co. is an instrumentation valves and fittings company located in Jiangsu Province, China. an instrumentation valves and fittings company located in Jiangsu Province, China. Xinghe Valve designs, produces and markets a range of instrumentation valves and fittings for oil and gas, petrochemical, nuclear power plants, waste water and other process control applications.

Buy -
SELLER

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest private equity firm that seek profitable, lower middle-market company investments with $5 to $20 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


DEAL STATS #
Overall 31 of 56
Sector (Business Services) 8 of 9
Type (Add-on Acquisition) 7 of 19
State (Texas) 3 of 4
Country (United States) 29 of 54
Year (2011) 2 of 3
Size (of disclosed) 9 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-15 MedErgy HealthGroup, Inc.

Yardley, Pennsylvania, United States

MedErgy HealthGroup, Inc. is a successful US-based healthcare communications consulting company. It was founded in 2002 by its current Chief Executive, Julia Ralston, and other current members of the senior management team. Key services provided by MedErgy include strategic consultancy, scientific communications, and medical education and clinician learning.

Sell $15M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-05 e+CancerCare

Nashville, Tennessee, United States

e+CancerCare is an operator of outpatient cancer care centers in the nation driven by its mission of partnering with communities to fight cancer. e+CancerCare core focus includes building a best-in-class network of cancer care facilities through partner acquisition, service-line conversion, and de novo development. e+CancerCare offer physicians and hospitals the financial and operational support they need so they can focus on delivering the highest quality care close to home. e+CancerCare creates environments for patients that meet their physical, emotional and mental health needs.

Buy -