Peak Rock Capital has made a “significant” investment in Houston, Texas-based CloudNine, a legal discovery technology company. Also, Peak Rock and CloudNine have teamed up to acquire LexisNexis‘ eDiscovery business. No financial terms were disclosed.
Austin, Texas, March 26, 2018 – An affiliate of Peak Rock Capital (“Peak Rock”), a leading middle market private equity firm, announced today that it has made a significant investment in CloudNine (“CloudNine” or the “Company”), a leading provider of eDiscovery SaaS solutions. Peak Rock and CloudNine have also simultaneously acquired the eDiscovery business from LexisNexis, which includes the LAW PreDiscovery, Early Discovery Analyzer (EDA), and Concordance products as well as the development, sales, and services teams supporting them. With this acquisition, the Company provides innovative and industry leading cloud-based and on-premise solutions to over 2,000 of the top legal and business customers in North America.
“We are pleased to partner with CloudNine in their acquisition of the LexisNexis eDiscovery product suite,” noted Steve Martinez, President and Managing Director of Peak Rock Capital. “CloudNine is well-positioned to service the suite’s current customer base, and with Peak Rock’s support, the company has substantial resources to further invest in and enhance these offerings and complete acquisitions of relevant businesses and products to best serve the combined customer base. We look forward to supporting the CloudNine team as they continue their strong growth in simplifying and automating eDiscovery for their customers.”
Brad Jenkins, CEO of CloudNine remarked, “Throughout this transaction, Peak Rock has demonstrated excellence in preparation and unparalleled carveout expertise. Their ability to move quickly and constructively navigate complexity gives us great confidence as we achieve success for our CloudNine customers and employees.”
“CloudNine is excited to carry on the LexisNexis eDiscovery product suite and continue providing vital services to existing and new customers,” continued Jenkins. “As a user of many of the purchased product line offerings for more than a decade, we fully understand their utility and potential and look forward to integrating them into our broader product portfolio. This acquisition and investment by Peak Rock empower us to further invest in the cumulative product suite, delivering enhanced capabilities and services to our customers through a robust, automated eDiscovery product platform.”
Anthony DiSimone, Chief Executive Officer of Peak Rock Capital, added, “We are pleased to announce our investment in CloudNine and the LexisNexis eDiscovery product suite. This transaction demonstrates our exceptional experience and capabilities in complex carveout transactions. It also highlights Peak Rock’s efforts to continue to grow our dedicated technology practice as we pursue platform investments in software, technology services and accretive add‐on acquisitions in eDiscovery.”
Founded in 2002, and based in Houston, Texas, CloudNine is a legal discovery technology company with expertise in simplifying and automating the discovery of data for audits, investigations, and litigation. Used by more than 2,000 legal and business customers in North America including more than 50 of the top 250 Am Law firms and many of the world’s leading corporations, CloudNine’s off-premise and on-premise software and services help customers gain insight and intelligence on electronic data. For further information about CloudNine, please visit www.eDiscovery.co.
ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is a leading middle‐market private equity firm that makes equity and debt investments in companies in North America and Europe. Peak Rock focuses on investing in opportunities where it can support senior management in driving rapid growth through operational and strategic support. Peak Rock’s principals have deep expertise in complex situations and cross‐border transactions, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.