US CourtScript, which is backed by Nili Capital Partners, has recapitalized Phoenix-based eScribers, a provider of courtroom reporting and transcription services. No financial terms were disclosed. Arey Bak will remain CEO of eScribers, retain a significant equity stake in the company and be a member of its board of directors.
RA’ANANA, ISRAEL – Nili Capital Partners (“Nili”) announced that its legal services platform, US CourtScript Holdings, LLC. (“US CourtScript”), completed the recapitalization of eScribers, LLC (“eScribers” or the “Company”), a technology leader in the courtroom reporting and transcription services industry, in partnership with eScribers’s management team. Aryeh Bak, eScribers’s founder and CEO, will remain CEO of the Company and will retain a significant equity interest and be a member of the board of directors. US CourtScript was formed to disrupt the traditional courtroom reporting and transcription services model through consolidation and technology innovation.
Headquartered in Phoenix, Arizona, and with offices in New York, Virginia and Israel, eScribers services courtrooms and hearing rooms through an all-in-one technology-enabled service that provides official audio, digital and print records for all legal proceedings. The Company is an innovator and leader in bringing the latest speech to text technology to the industry. eScribers’s proprietary platform in conjunction with its speech to text application allows for higher quality transcripts with faster turnaround times.
Jonathan Zimbalist, General Partner at Nili, commented, “We are delighted to initiate our platform with eScribers. eScribers is a category leader in a fragmented industry with many consolidation opportunities. It is the perfect company to serve as the lynchpin of our new legal services platform.”
Aryeh Bak, eScribers’s founder and CEO, commented, “We are thrilled to have found a partner like Nili to help us scale our business to even greater heights. The entire team is looking forward to working with and learning from Nili’s vast experience in growing companies both organically as well as via acquisition. Our industry is going through an inflection point as the number of stenographers in the U.S. declines while the improvement in speech to text and audio capture technology continues to improve, providing a unique opportunity to disrupt and consolidate the industry. Nili is the perfect partner to help us execute our strategy.”
“We are excited to work with Aryeh and the rest of the eScribers team to help take it to the next level. The Company has experienced impressive growth to date and together we believe we can grow even faster,“ stated Josef Mandelbaum, a General Partner with Nili.
Mr. Zimbalist and Mr. Mandelbaum will join the Board of Directors of US CourtScript.
About Nili Capital Partners
Nili Capital Partners is a private equity firm focused on small market buyouts providing a unique solution to the hyper competitive lower middle market. Utilizing an aggressive buy and build strategy, Nili aims to transform innovative Israeli platform companies into larger international companies through cross-border acquisitions in the US and Europe. Nili’s investment approach is to work with management teams to provide the necessary capital, network and know-how to maximize growth. More information about Nili may be found at www.nilicapital.com.