Investment funds managed by Stone Point Capital LLC has signed a definitive agreement to purchase Consilio, a global provider of eDiscovery, document review, risk management and legal consulting services, from GI Partners, a private investment firm.
Hoon Cho, managing director and co-head of private equity at GI Partners said, “We are thrilled with the outcome of our investment in Consilio. Our thesis was based on our conviction that Consilio’s combination with Advanced Discovery would create a differentiated market leader that would enhance customer success for its clients and create a formidable M&A platform to accelerate growth. The company grew rapidly in the three years since, including through the pandemic, and now stands better positioned than ever to continue its strong growth in the broader eDiscovery industry.”
Closing of the sale of Consilio is expected to occur in May. Immediately thereafter, Stone Point and Aquiline Capital Partners LLC, which has entered into a definitive agreement to acquire Xact Data Discovery, a leading international provider of eDiscovery, data management and managed review services, intend to combine the Consilio and XDD businesses.
Andy Macdonald, CEO of Consilio commented, “We are grateful to GI Partners for their invaluable support and strategic guidance over the last three years. Their support for continued investments in our growth allowed us to competitively deliver exceptional service to our clients and strengthen our global leadership position. We are now excited to start our next growth chapter with XDD and our new partners at Stone Point and Aquiline.”
Jeff Sheu, managing director at GI Partners added, “We would like to thank Andy and the entire leadership team for their partnership and the exceptional results they have generated. Through our targeted investments in the company’s technology, people, and scale, Consilio’s comprehensive legal technology and services offerings make it uniquely capable of supporting the world’s highest stakes legal matters. We look forward to following Consilio’s continued success.”
Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to GI Partners and Consilio.