Blue Sage Capital has acquired Austin, Texas-based Cobra, a provider of legal services. No financial terms were disclosed.
Blue Sage Capital is pleased to announce its recently completed investment in Cobra Legal Solutions (“Cobra”). Headquartered in Austin, Texas with an additional office in Chennai, India, Cobra is a leading provider of legal services including eDiscovery technology services, eDiscovery managed review, contracts management and legal research. Under the leadership of CEO Candice Corby, Cobra has more than tripled in size over the last three years.
Cobra’s CEO, Candice Hunter Corby, commented, “Partnering with Blue Sage will enable us to accelerate our growth. Leveraging Blue Sage’s capital resources and strategic network, will enable Cobra to expand its service offerings and provide greater capacity while continuing to deliver exceptional quality to Cobra’s clients.”
Eric Weiner, Partner at Blue Sage, stated, “We are excited to partner with Candice and her best-in-class team and to support Cobra in the next stage of its evolution. The Cobra platform stands out in its commitment to service, responsiveness, and flexibility in managing its customers’ eDiscovery and legal services needs. Together we will focus on organic growth and acquisitions to expand Cobra’s service offering and build a leader in the eDiscovery and legal services industry.”
Blue Sage was represented in the transaction by Queen Saenz + Schutz PLLC (Legal), Marsh McLennan (Insurance), Sprock Capital Advisory (Accounting), Corsis (IT) and Cherry Bekaert (Tax).
Cobra was represented by VRA Partners (Financial Advisor) and Alston & Bird LLP (Legal).
About Blue Sage Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable, growing, lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management and seeks to partner with founders, families and management teams as the first round of institutional capital for businesses that enjoy leadership positions in niche manufacturing, environmental solutions or specialty services industries. Blue Sage typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20 million to $125 million of revenue.