Silver Oak Services Partners has acquired Innovative Discovery in partnership with the company’s senior management team.
Innovative Discovery (ID) provides forensics, electronic data discovery, hosting, project management, production and managed review services to more than 180 law firms, corporations and government agencies throughout the US and Canada. The company, founded in 2005 by its CEO Allen Outlaw, has offices in Arlington, VA (headquarters); Washington, DC; New York, NY; San Francisco, CA; and Brussels, Belgium (www.id-edd.com).
“This is an exciting opportunity for Innovative Discovery to enhance our position as a market-leading eDiscovery company providing the highest quality service and offering a broad suite of innovative solutions to our clients,” said Mr. Outlaw. “Equally important, our partnership with Silver Oak has enabled us to get a considerable amount of equity into the hands of our management team.”
According to Silver Oak, the firm was attracted to an investment in the eDiscovery sector given the proliferation of electronically stored information and heightened complexity of the regulatory and compliance environment driving growth in demand for eDiscovery services.
Silver Oak and ID are actively looking for add-on acquisition opportunities. “We are excited to partner with the team at ID. The company has developed a strong reputation as a high-quality provider of end-to-end eDiscovery solutions, and we look forward to working with them to execute their growth strategy,” said Greg Barr, Managing Partner at Silver Oak.
Silver Oak Services Partners makes control investments of $10 million to $30 million in companies with revenues from $15 million to $150 million and EBITDAs from $4 million to $20 million. As the firm name implies, sectors of interest include business, healthcare, and consumer services. Silver Oak was founded in 2005 and is based in the Chicago suburb of Evanston (www.silveroaksp.com). The firm is currently investing out of its third fund which closed in March 2016 at its $335 million hard cap.
© 2018 Private Equity Professional | August 17, 2018