- KLDiscovery Completes Acquisitions of Two Firms – Strategic Legal Solutions and Compiled
- Accretive Acquisitions Add $12 million of Revenue in 2020
- Expands KLD’s Global Customer Base and Information Governance and eDiscovery Software Offerings
New York, NY and McLean, VA, July 29, 2019 – Pivotal Acquisition Corp (NYSE: PVT) (“Pivotal”), a public investment vehicle, and KLDiscovery(“KLD”), a leading global provider of electronic discovery, information governance, and data recovery services, today announced that KLD has acquired New York-based Strategic Legal Solutions(SLS) and Richmond, Virginia-based Compiled. Financial terms of the acquisitions were not disclosed.
The acquisitions reflect KLD’s capital allocation framework and demonstrate its commitment to driving long-term revenue growth by identifying entrepreneur-led acquisition targets that enhance its global footprint, technology capabilities and client base. SLS and Compiled are expected to be fully integrated by the fourth quarter of 2019, enabling substantial cost savings once fully on-boarded. The acquisitions will be accretive to 2019 earnings and are projected to add $12million of revenue in 2020.
“These transactions represent significant milestones for our company as we grow our business and expand our Information Governance and eDiscovery software offerings,” said Chris Weiler, CEO of KLD. “Strategic Legal Solutions’ robust client base will now have access to KLD’s extensive platform and Compiled’s ReadySuite offering will provide additional flexibility in how we address the industry’s unique data management needs. Together, these acquisitions broaden our customer base with the addition of key client relationships, strengthen our end-to-end technology platform and provide significant revenue opportunities for the future.”
“As we move towards the closing of the merger between KLD and Pivotal, we are excited to see Chris and his team identify and execute accretive tuck-in acquisitions that will drive long term value creation for all shareholders,” said Jonathan Ledecky, Chairman and CEO of Pivotal. “A disciplined M&A strategy is a core tenet to our investment thesis and an important driver of growth for KLD. We look forward to building on this momentum and continuing to execute on KLD’s M&A strategy.”
Strategic Legal Solutions offers eDiscovery and managed document review services primarily in New York and Michigan. The addition of a managed document review facility in Detroit, Michigan will bring KLD’s managed document review capabilities to 13 locations across six countries. Jay Horowitz, the CEO and founder of SLS and a 23-year industry veteran, will join KLD as Senior Vice President, Global Solutions Strategy and will continue to manage SLS’ key relationships with AmLaw 100 law firms and Fortune 100/500 corporations.” This is an exciting chapter for us as we join the KLD family,” said Mr. Horowitz. “Our clients, which include some of the largest corporations in the world, will soon benefit from KLDiscovery’s advanced technology, global footprint and ‘white glove’ customer service.”
Compiled provides its self-service and subscription-based flagship offering, ReadySuite, which assists law firms, service providers, consultants and corporations handle discovery documents in their eDiscovery workflow. ReadySuite will continue to be sold as a stand-alone service offering and will be integrated into Nebula, KLD’s proprietary e-discovery platform. Compiled CEO Justin Blessing will join KLD as Director of Engineering. “Integrating ReadySuite’s unique tool set will further expand the capabilities of KLD’s best-in-class Nebula platform – a win for our global customer base,” said Mr. Blessing. Kenyon Group, LLC served as exclusive financial advisor to Compiled LLC and arranged this transaction.
Since 2008, Compiled has created specialized software tools to aid in meeting tight litigation deadlines while adhering to strict quality standards. ReadySuite, the bundled suite of these tools, gives nontechnical and technical eDiscovery professionals the ability to perform a number of quality control, load file manipulation and image processing steps to data involved in litigation or regulatory matters. Clients include law firms, eDiscovery service providers and in-house legal teams. More information can be found at www.compiled.com.
About Strategic Legal Solutions
Strategic Legal Solutions is a global provider of end-to-end eDiscovery, corporate and staffing support to AmLaw 100 firms and Fortune 500 corporations across industry sectors. With 20 years of experience, Strategic Legal Solutions offers its clients state-of-the-art legal support services including forensic collection, data processing and hosting, early case assessment, analytics (e.g., threading and predictive coding), managed document review, production and provides consultation for information governance and cybersecurity. For more information, please visit www.strategiclegal.com.
KLDiscovery provides technology-enabled services and software to help law firms, corporations, government agencies and consumers solve complex data challenges. The company, with offices in 40+locations across 20 countries, is a global leader in delivering best-in-class eDiscovery, information governance and data recovery solutions to support the litigation, regulatory compliance, internal investigation and data recovery and management needs of our clients. Serving clients for over 30 years, KLDiscovery offers data collection and forensic investigation, early case assessment, electronic discovery and data processing, application software and data hosting for web-based document reviews, and managed document review services. In addition, through its global Ontrack Data Recovery business, KLDiscovery delivers world-class data recovery, email extraction and restoration, data destruction and tape management. KLDiscovery has been recognized as one of the fastest growing companies in North America by both Inc. Magazine (Inc. 5000) and Deloitte (Deloitte’s Technology Fast 500) and CEO Chris Weiler was recognized as a 2014 Ernst & Young Entrepreneur of the Year™. Additionally, KLDiscovery is a Relativity Certified Partner and maintains ISO/IEC 27001 Certified data centers around the world. For more information, please visit www.kldiscovery.com.