Madison Dearborn Announces Equity Investment in Aderant Holdings

Michael Roach

Law Technology News

12-06-2012

Chicago-based private equity firm Madison Dearborn Partners announced Monday its agreement to invest in Atlanta-based legal technology software provider Aderant Holdings Inc. Financial terms of the deal were not disclosed.

The deal will bring Madison Dearborn "approximately half" of existing investors Vista Equity Partners' and Aderant management's stakes in the company, according to Doug Grissom, a managing director at Madison Dearborn, but Vista Equity and the Aderant management team led by CEO Chris Giglio will still hold significant ownership positions. The transaction is expected to close by year's end subject to regulatory approvals.

Madison Dearborn enlisted Kirkland & Ellis as legal counsel, BofA Merrill Lynch as financial advisor, and Ernst & Young for accounting advice. Kirkland & Ellis also provided legal advice in the transaction to Aderant and Vista, who retained the services of BMO Capital Markets and Marks Baughan as financial advisors, and McGladrey for accounting.

Aderant employs close to 400 people in 10 offices across five countries and claims to employ three-quarters of Am Law 200 firms, with a client roster that includes Clifford Chance, Allens, Gibson Dunn & Crutcher, Greenberg Traurig, and Skadden Arps Slate Meagher & Flom, as well as accounting firms Grant Thornton and Deloitte.

Aderant offers software and services in business development, business intelligence, time and billing, practice management, client relationship management, case management, and automated court rules-based calendaring. The company recently released a general ledger analytics module for Expert ClearView, its business intelligence software for law firms and professional services firms.

Press release.

Michael Roach is LTN's associate editor. Send email.