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GI Partners Announces Sale of Consilio
SAN FRANCISCO, CA April 20, 2021 – GI Partners, a leading private investment firm, announced today that it has signed a definitive agreement to sell Consilio, a global leader in eDiscovery, document review, risk management, and legal consulting services, to investment funds managed by Stone Point Capital LLC (“Stone Point”).
GI Partners simultaneously acquired Consilio and Advanced Discovery in 2018, combining the businesses to form a global leader in eDiscovery. Following a successful integration of the two companies, GI Partners and management acquired DiscoverReady later that year. The combinations brought together three highly regarded management teams with complementary capabilities into one global eDiscovery leader with a full suite of end-to-end solutions capable of supporting the largest and most complex legal matters. As a result of these combinations and organic growth, Consilio now serves over 3,000 clients, across 45 offices and nine countries.
Hoon Cho, Managing Director and Co-Head of Private Equity at GI Partners said, “We are thrilled with the outcome of our investment in Consilio. Our thesis was based on our conviction that Consilio’s combination with Advanced Discovery would create a differentiated market leader that would enhance customer success for its clients and create a formidable M&A platform to accelerate growth. The company grew rapidly in the three years since, including through the pandemic, and now stands better positioned than ever to continue its strong growth in the broader eDiscovery industry.”
Closing of the sale of Consilio is expected to occur in May. Immediately thereafter, Stone Point and Aquiline Capital Partners LLC (“Aquiline”), which has entered into a definitive agreement to acquire Xact Data Discovery (“XDD”), a leading international provider of eDiscovery, data management and managed review services, intend to combine the Consilio and XDD businesses.
Andy Macdonald, CEO of Consilio commented, “We are grateful to GI Partners for their invaluable support and strategic guidance over the last three years. Their support for continued investments in our growth allowed us to competitively deliver exceptional service to our clients and strengthen our global leadership position. We are now excited to start our next growth chapter with XDD and our new partners at Stone Point and Aquiline.”
Jeff Sheu, Managing Director at GI Partners added, “We would like to thank Andy and the entire leadership team for their partnership and the exceptional results they have generated. Through our targeted investments in the company’s technology, people, and scale, Consilio’s comprehensive legal technology and services offerings make it uniquely capable of supporting the world’s highest stakes legal matters. We look forward to following Consilio’s continued success.”
Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to GI Partners and Consilio.
About GI Partners
Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised over $26 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.
Consilio is a global leader in eDiscovery, document review, risk management, and legal consulting services. Through its Consilio Complete suite of capabilities, the company supports multinational law firms and corporations using innovative software, cost-effective managed services and deep legal and regulatory industry expertise. Consilio has extensive experience in litigation, HSR second requests, internal and regulatory investigations, eDiscovery, document review, information governance, compliance risk assessments, cybersecurity, law department management, contracts management, legal analytics, paper discovery and digital printing, as well as legal recruiting and placement. Consilio and its global family of companies, Advanced Discovery, Altep, Millnet Document Services and Legal Placements Inc., employ leading professionals in the industry, applying defensible workflows with patented and industry-proven technology across all phases of the eDiscovery and risk management lifecycle. ISO 27001:2013 certified, the company operates offices, document review and data centers across Europe, Asia, and North America. For more information, please visit www.consilio.com.