Chicago private equity firm Madison Dearborn Partners is investing in Aderant Holdings, a legal software company. Terms of the investment weren’t disclosed.
Existing owners Vista Equity partners and the Aderant management team will retain significant ownership in the company.
Atlanta-based Aderant provides business management software to law and professional-services firms.
Bank of America Merrill Lynch served as Madison Dearborn’s financial adviser; Kirkland & Ellis LLP served as legal counsel; and Ernst & Young provided accounting services.
BMO Capital Markets and Marks Baughan acted as Aderant and Vista’s financial advisers; while Kirkland & Ellis provided legal advice and McGladrey provided accounting services.