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  6. Gridiron Capital Acquires Legility

M&A Deal Summary

Gridiron Capital Acquires Legility

On April 14, 2014, private equity firm Gridiron Capital acquired business services company Legility from Claritas Capital

Acquisition Highlights
  • This is Gridiron Capital’s 4th transaction in the Business Services sector.
  • This is Gridiron Capital’s 18th transaction in the United States.
  • This is Gridiron Capital’s 1st transaction in Tennessee.
Investment Fate
  • Legility was sold to a strategic buyer in 2021.

M&A Deal Summary
Date 2014-04-14
Target Legility
Sector Business Services
Buyer(s) Gridiron Capital
Sellers(s) Claritas Capital
Deal Type Recapitalization
Advisor(s) Bowstring Advisors (Financial)

Target

Legility

350 Brentwood, Tennessee, United States
Legility is a provider of technology-enabled legal services. The Company offers consulting, technology, managed solutions, and flexible legal talent to corporations and law firms.Legility helps its clients improve operational efficiency. By combining people, processes, and technology, Legility offers innovative and bundled solutions that align with how the legal market is increasingly looking to engage.

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Buyer(S) 1

Buyer

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 8.6B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.

DEAL STATS #
Overall 18 of 41
Sector (Business Services) 4 of 9
Type (Recapitalization) 4 of 4
State (Tennessee) 1 of 2
Country (United States) 18 of 41
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-11 Apex Engineering International

Whichita, Kansas, United States

Apex Engineering International is a manufacturer of components for the aerospace industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-14 Lakeshore TolTest

Detroit, Michigan, United States

Lakeshore TolTest Corp., Inc. is a worldwide construction company that manages major military and other government agency infrastructure projects, as well as major water and sewer projects for municipalities. Lakeshore TolTest was established in 2010 and is based in Detroit, Michigan.

Sell -

Seller(S) 1

SELLER

Claritas Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Claritas Capital is a private investment group focused on direct company and real estate investing. The Firm's equity group looks to partner with management in pursuit of healthcare, business services, and technology platform investments. Claritas does not have any company stage preferences and generally seeks to invest $2 to $5 million per transaction. The Firm's real estate group seeks to provide mezzanine debt and equity to retail, commercial, and multi-family properties. Claritas Capital was formed in 2002 and is based in Nashville, Tennessee.

DEAL STATS #
Overall 2 of 11
Sector (Business Services) 1 of 1
Type (Recapitalization) 1 of 1
State (Tennessee) 2 of 7
Country (United States) 2 of 11
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-09 Genomind

King of Prussia, Pennsylvania, United States

Genomind, Inc. is a personalized medicine company providing mental healthcare through genetic testing by offering Genecept Assay. Genomind was founded in 2009 and is based in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-22 BuyHappy

Nashville, Tennessee, United States

BuyHappy provides online shopping and created an online retail marketplace connecting with consumers, retailers, and brands at the point of purchase. BuyHappy is based in Nashville, Tennessee.

Buy -
Mergr

Product

Company

Legal