CapStreet Adds-on to Legal Platform
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CapStreet Adds-on to Legal Platform

legal partners nf1Keais Records Service, a portfolio company of The CapStreet Group, has completed the add-on acquisition of LegalPartners LP, a legal services company.

LegalPartners provides subpoena, records retrieval and document management services to insurance companies, law firms and third party administrators. The company is led by CEO Tony Maddocks and is based in Houston (www.legalpartners.com).

Neil kallmeyer nf3“This acquisition is an important and exciting first step in the Keais growth story,” said Neil Kallmeyer, managing partner, CapStreet. “LegalPartners represents the first of many acquisitions we plan to make as we execute on Keais’ buy and build strategy.”

keais nf1Keais is a national provider of outsourced document retrieval services. The company’s services are used by insurance carriers and law firms to retrieve medical records and other supporting documents to verify claim benefits or as supporting evidence in legal processes. The company was founded in 1975 and is headquartered in Houston (www.keais.com). Keais has been a portfolio company of The CapStreet Group since February 2015.

“LegalPartners is a natural fit for Keais,” said Newton Ross, CEO of Keais. “The acquisition will broaden our insurance and law firm customer base, while also enhancing our third party administrator vertical.”

CapStreet makes control investments in privately held, lower middle market companies that are headquartered in Texas and surrounding states. CapStreet targets industrial and diversified business service companies with annual EBITDA between $5 million and $20 million.

Tom Caughlin nf1“We see a tremendous growth opportunity for Keais in both the document retrieval market and in other related outsourced services,” said Tom Caughlin, principal at CapStreet.

The buy of Keais in February 2015 was CapStreet’s first investment in its fourth fund, CapStreet IV, LP which has $340 million in capital commitments and closed in May 2014.

In April 2015, CapStreet IV acquired its second portfolio company with the buy of Creative Resource Group, a provider of facility maintenance, logistics, safety and transportation services to companies operating in the refining, chemical, pipeline and terminals, power, pulp and paper, and pharmaceutical sectors.

CapStreet was founded in 1990 and is headquartered in Houston (www.capstreet.com).

© 2016 Private Equity Professional • 2-17-16

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