Trivest Partners has made a growth investment in Technology Concepts & Design (TCDI), a provider of digital legal services.
TCDI is a provider of eDiscovery, litigation management, computer forensics, cybersecurity and document review services to large and small corporations, law firms and government agencies. The company was founded in 1988 by CEO Bill Johnson and is headquartered in Greensboro, North Carolina.
“Trivest is really the ideal partner for TCDI given our current growth trajectory,” said Mr. Johnson. “Their deep understanding of the eDiscovery space and the tools they bring to the table as a partner to founder-owned businesses was the optimal outcome for me. We are tremendously excited about the partnership and path ahead.”
“We are excited to partner with TCDI and Bill Johnson to accelerate TCDI’s solid foundation and impressive track record of innovation and client retention,” said Jamie Elias, a partner at Trivest. “Trivest will assist the leadership team with an aggressive but thoughtful add-on acquisition program aimed at increasing the company’s size, scale, presence and capabilities in the coming years.”
Trivest was founded in 1981 and has completed more than 350 transactions totaling over $6 billion in value. Sectors of interest include niche manufacturing, distribution, business and healthcare services, and consumer industries. The firm has offices in Miami, Los Angeles, Philadelphia, Chicago, and Toronto.
The investment in TCDI is the most recent platform investment for the firm’s Trivest Growth Investment Fund I LP which has $225 million in capital and began investing in 2016.
Earlier this month, Trivest held final closings for Trivest Growth Investment Fund II LP (TGIF II) and the Trivest Discovery Fund LP (TDF) with $435 million and $235 million of total capital commitments, respectively. TGIF II, which will begin investing soon, focuses on companies that have revenues of at least $20 million and EBITDA of at least $4 million; while TDF is a new strategy focused on investments in smaller platform founder and family-owned companies, specifically those with less than $4 million in EBITDA. The two new funds, raised concurrently, are the firm’s sixth and seventh funds focused exclusively on founder and family-owned businesses.
© 2020 Private Equity Professional | February 28, 2020