Leonard Green Builds in Legal Services
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Leonard Green Builds in Legal Services

Veritext Legal Solutions, a portfolio company of Leonard Green & Partners, has acquired Diamond Reporting & Legal Video, a provider of court reporting services.

Diamond Reporting & Legal Video (Diamond) is headquartered in Brooklyn and provides court reporting, videography services, and interpreters in all languages to its customers in the New York area and throughout the country. The company, founded in 1980 by Jane Sackheim, has a staff of over 250 court reporters, videographers and interpreters and operates 17 full-service deposition centers. The company handles cases in all areas of law including personal injury, products liability, medical and legal malpractice, labor law, intellectual property and insurance law litigation (www.diamondreporting.com).

Veritext Legal Solutions, acquired by Leonard Green from Pamplona Capital Management in August 2018, provides pre-trial deposition services through its network of over 11,500 independent court reporters. The company was founded in 1997 and has offices both internationally and across the United States with its corporate headquarters in Livingston, NJ (www.veritext.com).

Leonard Green invests in middle-market companies in a variety of situations including traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm’s most recent fund, Green Equity Investors VII LP, closed in 2016 with $9.6 billion of committed capital. Leonard Green was founded in 1989 and is headquartered in Los Angeles (www.leonardgreen.com).

Investment bank Janney Montgomery Scott was the exclusive financial advisor to Diamond on this transaction. “Janney’s role throughout the transaction and their knowledge of the court reporting industry were critical,” said Ms. Sackheim. “They provided senior level and high-touch advice with a laser focus on the transaction details that were critical to meet our objectives. The deal professionals also had a deep understanding and appreciation of the personal impact of selling a business we’ve spent almost four decades building and nurturing. We are truly appreciative of the value they provided.”

Greenberg Traurig (www.gtlaw.com) provided legal services to Diamond and Lowenstein Sandler (www.lowenstein.com) was legal counsel to Veritext.

© 2018 Private Equity Professional | December 7, 2018

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