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LLCP-backed BigHand acquires Iridium

BigHand, a portfolio company of Levine Leichtman Capital Partners, has acquired Iridium Technology from Polaris Growth Fund.

BigHand, a portfolio company of Levine Leichtman Capital Partners, has acquired Iridium Technology from Polaris Growth Fund. No financial terms were disclosed. Iridium is a legal business intelligence and analytics software provider to law firms.

PRESS RELEASE

LOS ANGELES–( February 02, 2022 )–BigHand Ltd. (“BigHand”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has acquired Iridium Technology (“Iridium” or the “Company”) from Polaris Growth Fund. Terms of the transaction were not disclosed.

BigHand is a leading legal technology software platform designed to improve the workflow, productivity and profitability at law firms worldwide. Its specialized offerings include workflow management, document creation, business intelligence and matter pricing solutions that support over 3,500 organizations and 810,000 users worldwide. Founded in 1995, BigHand is headquartered in London, UK, and has offices in the US, Canada, the Netherlands and Australia.

Founded in 2009, Iridium is a leading legal business intelligence and analytics software provider to law firms worldwide. The Company offers a combination of data-driven management tools that allow law firms to enhance their productivity and profitability. Iridium supports 300 clients, including 50% of the AmLaw 200 firms and many other leading law firms worldwide. The full Iridium team are joining the BigHand team effective today. The combined organization will have a global workforce of over 350 employees.
Sam Toulson, Chief Executive Officer of BigHand, commented, “Law firms are under continuous pressure to improve their efficiency while simultaneously growing their profitability. Our goal has always been to offer our clients the best solutions and support, so we strategically and selectively seek to join forces with acquisition partners that align to our goals and those of our customers. We look to add significant value for our customers, and that’s what makes this acquisition very exciting. The addition of Iridium gives our clients an opportunity to access a vast amount of data that will enable their firms to move from the practice of law to the business of law.”

Josh Kaufman, Senior Managing Director at LLCP, added, “We are thrilled to support the addition of Iridium onto the BigHand platform. This strategic acquisition significantly expands BigHand’s presence in North America and further broadens its suite of products, specifically around providing law firms with data and analytics software designed to improve efficiency and profitability.”

BigHand is a portfolio company of Levine Leichtman Capital Partners VI, L.P.

About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 38-year track record of investing across various targeted sectors, including franchising, business services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.

LLCP’s global team of dedicated investment professionals is led by nine partners who have worked at LLCP for an average of 18 years. Since inception, LLCP has managed approximately $12.8 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. LLCP currently manages $8.9 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.