Aquiline Capital Partners, a private investment firm based in New York and London, has made an investment in SurePoint Technologies, a cloud provider of practice management services to law firms. As part of the transaction, Aquiline will acquire a majority ownership stake in SurePoint and will work closely with the company’s management team. Existing SurePoint investor ParkerGale will roll a portion of its equity stake and maintain minority ownership in the company.
SurePoint provides law firms with financial management, payment processing, mobile timekeeping, business intelligence and real time reporting.
“Aquiline’s investment, combined with the strength of SurePoint’s existing management team, places SurePoint on a strong competitive footing as we can now accelerate the enhancement of our award-winning platform,” said Tom Obermaier, CEO of SurePoint. “The new partnership will further improve our capacity to innovate and provide our customers with an exceptional experience. We are forever thankful for the trust our clients and the industry place in us. Aquiline’s expertise in legal technology, payments and vertical software will further cement that trust as we continue to make law firms better by alleviating administrative burdens.”
“Partnering with the team at SurePoint has been one of the joys of my career.” Kristina Heinze, co-founder and partner of ParkerGale said. “We built a great company with an amazing culture, and we are excited to work alongside Aquiline, Tom and the team to continue the journey,”
“Tom and the SurePoint team have built a strong business that is well-equipped to help manage more seamless administrative processes, enabling law firms to improve performance and operate more efficiently,” Jeff Greenberg, chairman and chief executive officer of Aquiline said. “We are excited to partner with SurePoint, where our experience with investing in vertical software, legal services and payment processing will support the company as it continues to deliver cutting-edge solutions to its customers.”
Raymond James served as financial advisor to ParkerGale, and Kirkland & Ellis LLP served as legal advisor. Willkie Farr & Gallagher LLP served as legal advisor for Aquiline.