Bayside Capital, an affiliate of buyout shop H.I.G. Capital, will acquire the assets of Atlanta-based Alexander Gallo Holdings, it announced Wednesday. Alexander Gallo is the parent company to court reporting and litigation solutions companies Esquire Solutions and Sanction Solutions. As part of the process, Alexander Gallo Holdings filed a voluntary Chapter 11 restructuring plan with the U.S. Bankruptcy Court. H.I.G. Capital will invest up to $20 million in the company to support operations during the bankruptcy process.
Alexander Gallo Holdings, LLC (AGH) announced today that it has reached an agreement to sell substantially all of its assets to H.I.G. Capital through its affiliate Bayside Capital as part of a process designed to eliminate debt, strengthen liquidity and allow the Company to continue providing critical litigation support to more than 10,000 law firm offices and corporate clients nationwide.
“H.I.G. Capital has tremendous resources, is excited about the growth prospects of our Company, understands our industry and believes in our future,” said Alexander Gallo, the Company’s founder and Chief Executive Officer. “We could not have found a better investor.”
Esquire Solutions, a subsidiary of AGH, will continue to focus resources on serving clients and investing in technology. All ongoing work will continue on schedule and the Company will continue to take on new assignments.
“Esquire Solutions is the market leader with an exemplary track record for servicing clients and has both an unrivaled business model and superior technology,” said Jackson Craig, Managing Director of Bayside Capital. “We are excited about the acquisition and look forward to working together with the current management team to continue to build the business.”
As part of this process, parent company Alexander Gallo Holdings today filed a voluntary Chapter 11 restructuring with the U.S. Bankruptcy Court for the Southern District of New York, through which the Company will seek to finalize the asset sale to Bayside Capital, which is subject to Court approval. The Company expects to complete the transaction within the next three months. All operations are expected to continue as normal throughout this process.
H.I.G., through its affiliate Bayside Capital, has also agreed to invest up to $20 million in new financing to support the Company during this process, subject to Court approval. This agreement comes one month after the firm made an initial investment in the Company in August.
The Company has retained Carl Marks Advisory Group as financial advisor; Gordian Group, LLC as investment bank; and DLA Piper LLP as legal counsel.
For more information about the restructuring, please visit the Restructuring Transaction tab of www.esquiresolutions.com or go directly to www.esquiretransaction.com . Additionally, the Company has set up a toll-free restructuring information hotline at 855-768-6751.
About Alexander Gallo Holdings, LLC
Based in Atlanta, Alexander Gallo Holdings, LLC is parent company to the nation’s leading privately-owned court reporting and litigation solutions companies, Esquire Solutions and Sanction Solutions. Alexander Gallo Holdings companies offer expertise in court reporting, legal video, hosted review, electronic discovery and trial services across its 55 offices in 23 states. The Company’s entrepreneurial strategies and focus on superior client service has driven its unparalleled growth since 1999. For more information, visit www.alexandergalloholdings.com .
About Bayside Capital and H.I.G. Capital
Bayside Capital is an affiliate of H.I.G. Capital, a leading global private investment firm with more than $8.5 billion of equity capital under management.