PHILADELPHIA, Dec. 05, 2018 (GLOBE NEWSWIRE) — CIVC Partners, L.P. (“CIVC”), a Chicago-based middle market private equity firm focused on investments in the business services and financial services industries, is pleased to announce the firm’s investment in Magna Legal Services (“Magna” or the “Company”), in partnership with the management team.
Magna provides litigation support services to over 2,000 law firms and corporations across the United States. The Company supports its clients through each phase of the litigation process including court reporting, jury evaluation and consulting, translation, video, graphic design, and record retrieval services. Magna was founded in 2007, and over the last 11 years has established itself as one of the leading and fastest growing providers of litigation support services in the industry. For additional information on Magna, visit www.magnals.com.
Magna’s entire senior management team will remain in place following the investment and will maintain a significant ownership position in the Company. The partnership will support Magna’s continued growth, both organically and through acquisitions.
The Company’s President, Bob Ackerman, said, “We are thrilled to be partnering with a CIVC team that enthusiastically shares our vision for Magna. CIVC has been an active investor for nearly 30 years and has extensive experience partnering with founder-led companies. We expect CIVC to be a value-added partner going forward as we execute on our growth strategy.”
Scott Schwartz, a partner at CIVC, commented that, “Magna is one of the leading companies of scale in a highly attractive industry defined by recurring revenue, limited cyclicality, and a fragmented base of smaller competitors. We are excited to partner with Bob Ackerman, Mark Calzaretta, Peter Hecht and Jon Ackerman to support the company in accelerating organic growth and pursuing strategic acquisitions.” Doug Potters, a principal at CIVC, added, “Magna is a tremendous investment opportunity for CIVC and a strong fit with our experience investing in growing business services companies that operate in highly fragmented industries benefiting from strong outsourcing trends.”
The partnership with Magna builds on CIVC’s investment experience in the outsourced business services industry. Other representative investments within outsourced business services include KPA (provider of compliance services), Yellowstone Landscape (provider of commercial landscape services), Magnate Worldwide (provider of asset-light logistics services), and GPRS (provider of private utility locating services).
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in the business services and financial services sectors. Since 1989, the team has invested $1.6 billion in 62 platform companies and currently invests from CIVC Partners Fund V. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
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