Harris Williams Advises Veritext on its Sale to Leonard Green & Partners
Harris Williams, a preeminent investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Veritext Corporation (Veritext), a provider of deposition and litigation support services, on its sale to Leonard Green & Partners, L.P. (LGP). Harris Williams served as the financial advisor to Veritext, a portfolio company of Pamplona Capital Management (Pamplona). The transaction was led by Derek Lewis, Anthony Basmajian, Graham Gillam and Peter Morgan of Harris Williams’ Business Services Group, and John Arendale of the Richmond office.
“We have had the privilege of partnering with Veritext on three successful transactions, and it has been a pleasure to watch the business evolve and grow through CEO Nancy Josephs’ and President Rich Antoneck’s leadership. We are confident that Veritext will continue to build on its market leadership with LGP, and look forward to seeing the company continue on its trajectory during this exciting new chapter,” said Derek Lewis, a managing director at Harris Williams.
"The Veritext management team has proven its ability to drive both organic and acquisition-based growth while also leading the industry in technology innovation," added John Arendale, a managing director at Harris Williams. “Veritext’s culture of service and innovation is a hallmark of its success, and will continue to be invaluable as the company looks to the future with its new partner.”
Veritext was founded in 1997 with the goal of providing superior services to the legal industry. With more than two decades of continued industry excellence, Veritext is an established leader in providing technology-driven deposition and litigation support services to law firms and corporations around the globe. The company plays a critical role in its clients’ legal processes, offering best-in-class court reporting solutions and access to independent contractors across the country, and represents one of the largest providers of such services in the U.S.
Pamplona, established in 2005, is a specialist investment manager that provides an alternative investment platform across private equity and single manager hedge fund investments. Pamplona manages over $10 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona is currently investing its fifth private equity fund, Pamplona Capital Partners V, L.P., which was raised in 2017. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 90 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business and healthcare services, as well as retail, distribution and industrials. Its most recent fund, Green Equity Investors VII, L.P. (GEI VII), closed in 2016 with $9.6 billion of committed capital.
Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams’ Business Services Group has experience advising companies that provide a range of commercial, industrial and professional services. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.