Advanced Discovery, a provider of e-discovery services and document review, has been acquired by Trivest Partners in partnership with the company’s management team. Advanced Discovery represents the fifth platform investment in Trivest Fund V, a $415 million fund.
“Advanced Discovery aligns perfectly with our strategy to partner with growing, founder-owned, middle market businesses,” said Forest Wester, partner with Trivest. “The company’s commitment to continuous improvement and unparalleled customer service makes it a trusted partner to its clients and the kind of business that we know is positioned for long-term success. We look forward to helping the company continue its long track record of growth and success.”
Advanced Discovery is a provider of e-discovery and document review services. The company has facilities in 12 cities and provides services across the EDRM (Electronic Discovery Reference Model) for law firms and corporate legal departments. Services include computer forensics, early case assessment, predictive coding, consulting, data hosting, document review and paper discovery. The company was founded in 2002 and is based in Austin, TX (www.advanceddiscovery.com).
Trivest’s investment will be used to advance the company’s national presence through add-on acquisitions and investments in additional personnel, services and technology.
“Our market is ripe for consolidation and demands constant innovation,” said David Vandygriff, chief executive officer of Advanced Discovery. “We have built a great sales and project support organization and have developed numerous process-enhancing software tools. With access to additional capital through Trivest, we will be able to continue to add talented individuals to our team and expand our technology development to more fully realize our goal of providing efficient, reliable and transparent e-discovery.”
Trivest invests in founder or family owned businesses in the United States and Canada that have revenues of at least $25 million and cash flows of at least $5 million. Sectors of interest include business services, niche manufacturing, consumer products, and franchisors. The firm was founded in 1981 and has completed more than 200 transactions totaling over $5 billion in value. Trivest is headquartered in Miami (www.trivest.com).
2014 PEPD • Private Equity’s Leading News Magazine • 8-6-14