Nonantum Capital Partners has acquired Tampa, Florida-based ProVest, a legal support services firm. No financial terms were disclosed. Lincoln International was financial adviser to ProVest on the deal while Goodwin Procter and Covington & Burling both advised Nonantum.
BOSTON–(BUSINESS WIRE)–Nonantum Capital Partners (“Nonantum”), a middle-market private equity firm focused on investing in family and founder-led businesses, corporate carve-outs, and complex situations, today announced its acquisition of ProVest, one of the nation’s leading legal support services firms. Nonantum’s investment in ProVest represents the first deal for the firm, established in 2018.
Founded more than 25 years ago, ProVest is a leading provider of outsourced service of process and related services to law firms, leveraging its footprint of more than 2,000 process servers nationwide. Service of process is a legally required consumer protection which ensures appropriate notification in legal cases. The Florida-based business has become a trusted partner to many of the nation’s most notable law firms and financial institutions.
“ProVest is a market leader with strong compliance capabilities, deep customer relationships, and an expansive network of process servers built over nearly three decades,” said Jon Biotti, Managing Partner of Nonantum. “As investment partners, we look for business leaders and owners with passion, vision, and drive. We have found such a partner in ProVest and are proud to welcome them into the Nonantum family, as we build on their legacy in the years to come.”
“Our decision to partner with Nonantum was heavily influenced by the strength of the relationship we have formed with their team,” said Jim Ward, ProVest CEO. “We are eager to leverage the talent, expertise, and dedication of the Nonantum team. Their strategic thinking and experience in building and growing businesses organically and through acquisition will help propel ProVest forward in the years to come.”
Lincoln International acted as financial advisor to ProVest. Goodwin Procter and Covington & Burling both advised Nonantum.
About Nonantum Capital Partners
Founded in 2018 by a team of experienced private equity and management executives as a spin-out from Charlesbank Capital Partners, Nonantum is a Boston-based middle market private equity firm. Nonantum focuses on investing in family and founder-owned businesses, corporate carve-outs, and complex situations where personal partnership is critical, and opportunities exist for significant equity value creation. The firm seeks to invest $25 million to $75 million of equity per company. For more information, visit http://nonantumcapital.com/.
Headquartered in Tampa, FL, ProVest is one of the nation’s largest legal support services firms, with offices in 24 locations, providing nationwide service of process and related services to many of the country’s most notable law firms and financial institutions. Our passion is to meet client, legal and regulatory requirements while focusing on the highest level of quality, speed and accuracy. ProVest adheres to the highest compliance standards and is proud to maintain SOC 2 Type II certification. ProVest’s services include service of process, skip trace, loss mitigation, mortgage borrower location, foreclosure sales, military search, document retrieval, death certificates and heir and probate searches. For more information, visit http://www.provest.com/.