Aquline to acquire Xact from JLL

JLL Partners has agreed to sell Xact Data Discovery to Aquiline Capital Partners. No financial terms were disclosed. William Blair served as  financial advisor to Xact while Jones Day was legal advisor. Xact is a provider of eDiscovery, data management and managed review services.

PRESS RELEASE

New York, NY – (April 20, 2021) – JLL Partners (“JLL”), a New York-based private equity firm, announced today that it has signed a definitive agreement to sell Xact Data Discovery (“Xact”), a leading international provider of eDiscovery, data management and managed review services, to an investment fund managed by Aquiline Capital Partners LLC (“Aquiline”).

JLL acquired Xact in December 2017 and has worked closely with the management team to drive both organic and inorganic growth, while expanding Xact’s geographic reach and service offering. “JLL’s investment in Xact has been extremely successful for the company and all of its stakeholders,” said Frank Rodriguez, a Managing Director at JLL Partners. “We supported the company’s execution of ten acquisitions, adding new services, and expanding into new end markets and geographies. Xact is now strongly positioned to continue to execute on its growth strategy, and we wish them much success as they embark on this next chapter.”

Closing of the sale of Xact is subject to customary closing conditions and expected to occur in May. Immediately thereafter, Aquiline and investment funds managed by Stone Point Capital LLC (“Stone Point”), which have entered into a definitive agreement to acquire Consilio, intend to combine the Xact and Consilio businesses.

Bob Polus, Xact Founder and CEO, said, “JLL has been a true partner to us over the last three and a half years. As a management team, it is critical to share our growth journey with the right partner – a group with a similar culture, strategic vision and focused energy. We have benefitted significantly from our collaboration with JLL and are excited to enter the next phase of growth with Consilio, Aquiline, and Stone Point.”

Brooks Powlen, Managing Director, JLL Partners, added, “It has been an honor to partner with this dedicated and exceptionally talented management team. We thank Xact’s leadership and employees for their tremendous efforts and collaboration.”

William Blair served as exclusive financial advisor and Jones Day served as legal advisor to Xact.

About JLL Partners
JLL Partners is a middle market private equity firm with over three decades of experience transforming businesses in the healthcare, specialty industrials, and business services sectors. The firm is dedicated to partnering with companies that it can help build into market leaders through a combination of strategic mergers and acquisitions, organic growth initiatives, and operational enhancements. The JLL Partners team is comprised of seasoned investment professionals and operating partners who are focused on driving long-term value creation across its portfolio. Since its founding in 1988, JLL Partners has committed over $5.5 billion of equity capital across eight private equity funds, with over 50 platform investments and more than 190 add-on acquisitions. www.jllpartners.com