Newtown Square, PA – Wilson Allen, a market-leading technology services provider for large law firms and other professional services organizations, and LAC Group, a leading provider of research and intelligence expertise to legal and corporate clients, today announced the merger of their companies.
As a result of the merger, the new company will become a global industry leader providing information and technology services to professional services firms and information-driven enterprises. The combined business will have more than 900 clients, approximately 350 employees, and operations in the US, Canada, the UK and Europe.
LAC Group and Wilson Allen will initially retain their brands while integrating operations and will rebrand the new company in the future. The merged company is partnering with Renovus Capital, a specialist private equity firm, for strategic and capital support.
The business will be led by the combined executive teams of Wilson Allen and LAC Group. LAC Group CEO, Rob Corrao, will become the Chief Executive Officer, and Wilson Allen Chairman & CEO, Bruce Wilson, will become Chairman of the merged company.
This merger brings together two highly experienced, organizations with specialized domain knowledge of the key business functions that drive operational performance”, said Rob Corrao, CEO of the combined company. “Both companies have deep delivery capabilities, backed by operating models and processes that have consistently provided tangible business benefits for our clients. We have exceptionally high customer satisfaction, and unparalleled quality of service.”
“We have a leading position in a sector that is undergoing significant disruption from changing market forces, digital transformation and new business models,” says new company Chairman Bruce Wilson. “By combining the research and intelligence knowledge of LAC Group with the specialist technology services of Wilson Allen, we can deliver new data- and tech-enabled services that will help professional services firms improve business performance and assist them in serving their customers better.”
Renovus founding partner Jesse Serventi said his firm has been researching the legal market for some time. “We have been seeking to make a strategic investment in this sector. We have found two companies with market-leading reputations independently verified as providing excellent, value-oriented outcomes for their customers. Both companies have complementary strengths in service delivery and are culturally and operationally aligned to drive growth. We are very focused on making that happen.”
The financial terms of the transaction were not disclosed.
Canaccord Genuity acted as exclusive financial advisor to Wilson Allen on this transaction. JEGI Clarity served as advisor to Renovus.
About Wilson Allen
Wilson Allen specialists are trusted by the operational leaders of the world’s largest law firms and professional services organizations to deliver the consulting and managed services needed to run their businesses more profitably by optimizing their use of technology and data. It has teams in the US, Canada, and the UK with over 120 employees and an extensive affiliate and partner network. It serves over 700 customers in North America, UK and Europe, and Asia Pacific.
About LAC Group
LAC Group’s highly skilled professionals provide research and intelligence expertise to a broad set of legal and corporate clients, delivering insights and managing information resources to enable their customers to compete better and scale their operations more cost-effectively. With a history of almost four decades as a specialist information services provider and just over 22 0 employees, it delivers its services to major law firms, corporations, media and entertainment companies throughout the US and Canada.
Founded in 2010, Renovus Capital Partners is a specialist private equity firm. From its base in the Philadelphia area, Renovus manages over $1 billion across its sector-focused funds and other strategies. The firm’s current portfolio includes over 20 U.S.-based businesses specializing in education and training, healthcare services, technology services and professional services. It typically partners with founder-led businesses, leveraging its experience within the industry and access to debt and equity capital to make operational improvements, recruit top talent, pursue add-on acquisitions and oversee strategic growth initiatives.