Congrats to ProSearch for the announcement that Consello Capital acquires a majority stake in ProSearch! A portion of the press release is below, the full press release is available here.
Consello Capital Acquires Majority Stake in Leading Tech-Enabled Legal Services Provider, ProSearch
Los Angeles, CA and New York, NY, October 19, 2023
Consello Capital, the private equity arm of The Consello Group, announced that it has acquired a majority stake in ProSearch Strategies, a leading provider of tech-enabled legal services to enterprise customers, with over 200 employees and locations in the U.S., Ireland and India. The transaction marks the first investment for Consello Capital.
ProSearch helps large enterprises more effectively navigate and resolve litigation, regulatory and privacy matters. As the complexity and volume of data sets continues to grow alongside increasingly stringent regulatory requirements, ProSearch offers an enterprise-class solution that harnesses the power of data science and the latest technologies to help its clients manage the eDiscovery process. The company’s suite of products and services are designed specifically to support the in-house legal teams of large companies, delivering improved efficiency, speed and cost-savings. Founded in 2005, ProSearch is a critical partner to a significant number of the world’s top multinational corporations.
“More than ever, business leaders are looking for actionable ways to use technology and AI to improve their business processes and thereby create shareholder value. ProSearch is a great example of a B2B company that helps its clients do just that, with a relentless focus on using technology to drive efficiency,” said Peter Morrow, Managing Partner of Consello Capital. “We look forward to working closely with the ProSearch team to help them continue to deliver industry-leading products and services, expand their technology offerings and further add to their blue-chip roster of customers.”
“ProSearch has built a reputation as a best-in-class provider of technology solutions to the legal departments of the Fortune 500 and we are thrilled to be a part of their growth journey,” said Declan Kelly, Chairman and CEO of Consello. “This is an ecosystem we know very well at Consello given our leadership team’s many years of experience running, building and advising many of the world’s most important companies.”
He continued, “And as our first investment, this transaction represents an important moment for Consello Capital, as well as the wider Consello business. We are proud to be able to share this important milestone with the ProSearch team and look forward to identifying more ways we can continue to drive value for our partners and investors.”
“We are excited to partner with Consello Capital as we continue to evolve our business and build on our track record of providing technology-led legal solutions to large enterprises,” said Julia Hasenzahl, Co-Founder and CEO of ProSearch. “Consello Capital’s partnership orientation and differentiated ability to add value through both their connectivity to the Fortune 500 and their team’s breadth of expertise make them the ideal partner for our company during this next stage of growth. This investment will allow us to continue to grow ProSearch and reimagine the eDiscovery and review process with generative AI.”
Guggenheim Partners LLC acted as financial advisor to ProSearch, while Buchalter provided legal advice to the company on the transaction. Kirkland & Ellis advised Consello Capital. The financial terms of the agreement were not disclosed.
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