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.
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