Boston private equity firms Berkshire Partners has acquired a majority interest in Access Information Management for an undisclosed price.
Summit Partners, also based in Boston, sold the stake in Access, a data protection and record-keeping service provider. Summit purchased the Livermore, California company in 2011 and has grown the company ever since. In early 2014, Summit inked two add-on deals, including the purchase of Safe Site Northwest Inc. and DataSite Business Archives Inc. The Seattle companies, which do business as DataSite Northwest, are known as the largest privately held records and information management services provider in the Pacific Northwest.
Summit tapped investment bank Robert W. Baird & Co. to run the sale process for Access.
Berkshire is known to buy just stakes or co-invest in companies. Earlier this year, the firm announced plans to partner with newly-formed financial sponsor Front Row Partners LLCon deals in the retail and consumer goods space.
Ropes & Gray partners Taylor Hart and Sunil Savkar advised Berkshire on legal matters.