NASDAQ OMX

LDiscovery to Acquire Kroll Ontrack

Del

MCLEAN, Va. and NEW YORK, 2016-10-21 19:48 CEST (GLOBE NEWSWIRE) --

LDiscovery, LLC, a technology-enabled eDiscovery services provider, and Corporate Risk Holdings, LLC, a global leader in diversified risk and information services and parent company of Kroll Ontrack, announced today a definitive purchase agreement under which LDiscovery will acquire Kroll Ontrack in an all-cash transaction valued at approximately $410 million. LDiscovery is a portfolio company of The Carlyle Group and Revolution Growth.

Serving 12,000 clients worldwide, including some of the world’s largest financial institutions, Fortune 1000 companies and Am Law 100 firms, the combined organization will have offices in 19 countries with approximately 1,300 employees worldwide.

“By offering best-in-class eDiscovery and data recovery solutions across many market segments, Kroll Ontrack has built an impressive platform, loyal client base and a strong leadership position,” said Chris Weiler, Chief Executive Officer of LDiscovery.  “We are delighted to welcome Kroll Ontrack employees to the LDiscovery family and look forward to leveraging our combined expertise to offer clients innovative eDiscovery solutions and superior client service.  With this combination, LDiscovery customers will have access to Kroll Ontrack’s global footprint, proprietary review platform and the world’s best data recovery services, while Kroll Ontrack customers will leverage LDiscovery’s proprietary suite of eDiscovery technology, including our remote collection tool, ESI processing platform, eDirect365™, and our award-winning Relativity integrations, as well as the eDiscovery industry’s most advanced and robust hosting infrastructure.  There truly is a lot for our combined employee and client base to be excited about today,” said Weiler, who will become Chief Executive Officer of the combined organization.

“Today’s announcement represents another milestone in the ongoing transformation of Corporate Risk Holdings,” commented David R. Fontaine, Corporate Risk Holdings’ Chief Executive Officer.  “Partnering with LDiscovery will enable Mark Williams, Kroll Ontrack’s Chief Executive Officer, and his entire team to continue to advance and grow the business, delivering the same unwavering commitment to quality and exemplary client-service that clients deserve and have come to expect.  Our Kroll business will continue to work closely with Kroll Ontrack to meet current and future client needs, drawing upon each organization’s core strengths and capabilities.”

“This is a new and exciting chapter for Kroll Ontrack, its employees, and, most importantly, our clients,” said Mark Williams, who will become President and Chief Operating Officer of the combined company.  “Our united company will be the global leader in white-glove client-service, and will blend the industry’s best and brightest people, backed by unparalleled proprietary software, to deliver a seamless eDiscovery and data recovery experience for our combined global client base.  We are thrilled to be joining the LDiscovery team.”

The transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2016.

Latham & Watkins LLP is serving as legal advisor and RBC Capital Markets is serving as M&A advisor to LDiscovery, The Carlyle Group and Revolution Growth and has provided committed debt financing to LDiscovery in support of the transaction.

Houlihan Lokey Capital, Inc. is serving as the lead financial advisor on the transaction with Evercore LLC serving as an additional advisor to Corporate Risk Holdings.  Simpson Thacher & Bartlett LLP is serving as legal advisor to Corporate Risk Holdings.

About LDiscovery, LLC

Established in 2005 and headquartered in McLean, VA, LDiscovery provides a full range of legal and technology consulting services to law firms, corporations and government agencies. Comprised of attorneys, engineers, computer forensic experts, and litigation support professionals, LDiscovery is a leader in delivering best in class end-to-end eDiscovery solutions supporting the litigation, regulatory compliance and internal investigation needs of our clients. LDiscovery provides 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 legal review services.  LDiscovery 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 our President, Chris Weiler, was recognized as a 2014 Ernst & Young Entrepreneur of the Year™.  Additionally, LDiscovery is an Orange-level Relativity Best in Service Partner, a Relativity Premium Hosting Partner, and its data centers are ISO/IEC 27001 Certified. For more information, please email info@ldiscovery.com or visit www.ldiscovery.com.

About Corporate Risk Holdings, LLC

Corporate Risk Holdings is a global leader in diversified risk and information services, headquartered in New York, NY.  Corporate Risk Holdings is the parent company of: HireRight, a leading global provider of employment background screening and eligibility solutions; Kroll, a leading global provider of a broad range of investigative and advisory solutions to help clients identify, remediate and monitor business risks; and Kroll Ontrack, a leading global provider of technology-driven services and solutions to help clients manage, recover, search, analyze, produce and present data efficiently and cost-effectively.

About Revolution Growth

Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience and control in their lives.  By taking a long-term approach and developing a true, hands-on partnership with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.

About The Carlyle Group

The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with $176 billion of assets under management across 128 funds and 170 fund of funds vehicles as of June 30, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 35 offices across six continents. www.carlyle.com

Forward-Looking Statements

This press release may contain “forward-looking statements.”  Forward-looking statements identify prospective information. Important factors could cause actual results to differ, possibly materially, from those stated in the forward-looking statements. In some cases you can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “should,” “will” and “would” or the negatives thereof, variations thereof or other similar words. You should read statements that contain these words carefully because they discuss our future priorities, goals, strategies, actions to improve business performance, market growth assumptions and expectations, future business opportunities, capital expenditures, financing needs, financial position and other information that is not historical information or state other “forward-looking” information.  Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements.  Forward-looking statements speak only as of the date the statements are made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.

         Media Contacts:
         LDiscovery, LLC:
         Linda Kish
         Vice President, Marketing
         515-276-5558
         
         Corporate Risk Holdings, LLC:
         Joele Frank, Wilkinson Brimmer Katcher
         Meaghan Repko/Dan Moore
         212-355-4449

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