Thompson Street Capital Partners (TSCP) has acquired Software Technology, a provider of financial and practice management software for small to mid-size law firms, with a particular focus on law firms with fifty or fewer attorneys.
Software Technology’s (STI) flagship software platform, Tabs3, performs billing, time-keeping and financial management functions and automates back-
office workflows. PracticeMaster, STI’s practice management software platform, delivers non-financial practice management tools to manage cases, contacts, calendars, and documents. Tabs3 and PracticeMaster are fully integrated and provide users with a single unified interface. STI serves more than 50,000 attorneys at nearly 10,000 law firms. The company is based in Lincoln, NE (www.tabs3.com).
“STI has developed productivity tools for law firms since 1979. We are proud of our history of providing reliable software and trusted service, and with TSCP as a partner, we couldn’t be more optimistic about our future,” said Dan Berlin, President and CEO of STI. “In addition to the resources and expertise that TSCP provides, their long term perspective on growing our business is a wonderful fit for our employees, customers and the consultants who work with us across the country.”
“We are excited to partner with the STI team,” said Jim Cooper, Managing Partner. “We’re looking forward to supporting STI’s continued growth and to helping build upon the company’s well-earned reputation in the legal market for providing dependable and effective software tools and excellent customer service.”
Thompson Street Capital Partners makes investments in companies with annual revenues between $20 million and $200 million and EBITDA between $4 million and $15 million. Since its founding in 2000, Thompson Street has acquired more than 100 companies in the business services, healthcare services and engineered products sectors. The firm held a final close of Thompson Street Capital Partners IV, LP with $640 million of capital commitments in December 2015. Thompson Street is based in St. Louis (www.tscp.com).
Cascadia Capital, a mid-market investment bank based in Seattle (www.cascadiacapital.com), acted as financial advisor for STI.
© 2017 Private Equity Professional | January 13, 2017
