Consilio and Xact Data Discovery Agree to Combine Strengths to Deliver a More Complete Client Experience
WASHINGTON and MISSION, Kan., April 20, 2021 (GLOBE NEWSWIRE) — Consilio, a global leader in eDiscovery, document review, risk management, and legal consulting services, and Xact Data Discovery (XDD), a leading international provider of eDiscovery, data management, and managed review services, announced today that they have agreed to a merger of the two companies. The united company will operate as a global technology-enabled service provider and eDiscovery leader.
The combined company will operate under the Consilio name and will consist of over 4,000 employees and active review professionals serving clients from more than 70 global regions across 11 countries. The company’s global operations will support small, mid-size, and large clients, regardless of how complex their challenges may be.
“This is a significant step for Consilio and XDD to bring together our respective strengths to deliver a more complete experience to the whole spectrum of client needs,” said Andy Macdonald, the Chief Executive Officer of Consilio who will continue as CEO of the combined company. “Joining our companies together will provide exponential growth opportunities for our clients. We believe our employees’ experience is directly connected to their ability to provide world-class service and solutions for our clients.”
Bob Polus, the Founder and Chief Executive Officer at XDD, said, “We are pleased to join our services and offerings with those of Consilio. We have complementary global operations, a strong cultural fit, and a similar legacy of successful acquisitions and integrations. Both organizations have diverse strengths and fared well throughout the pandemic, leaving room for enhanced growth as a combined organization.” Mr. Polus will serve as the Corporate Development Officer of the combined company.
In connection with the pending merger, investment funds managed by Stone Point Capital LLC and by Aquiline Capital Partners LLC have committed to partner with management in the ownership of the combined company. The acquisitions of Consilio, from GI Partners, and XDD, from JLL Partners, and the subsequent merger are subject to customary closing conditions including regulatory approval.
Chuck Davis, the Chief Executive Officer of Stone Point Capital, said, “We are excited to partner with Andy, Bob, and the combined company’s senior leadership team, as well as our friends at Aquiline, in the merger of these two impressive companies. We look forward to supporting Consilio and XDD as they continue to provide exceptional client service and to develop innovative solutions to reduce client risk.”
Jeff Greenberg, Chairman and CEO of Aquiline Capital Partners, said, “We are pleased to work with both management teams and Stone Point to merge these two businesses. The combined company will offer a compelling value proposition and be well positioned to thrive in a steadily growing market.”
Debevoise & Plimpton LLP and Willkie Farr & Gallagher LLP acted as legal advisors to Stone Point Capital and Aquiline Capital Partners, respectively. Jefferies LLC represented Consilio and William Blair represented XDD as their respective exclusive financial advisors. Houlihan Lokey served as financial advisor to Aquiline Capital Partners.
About Consilio
Consilio is a global leader in eDiscovery, document review, risk management, and legal consulting services. Through its Consilio Complete suite of capabilities, the company supports multinational law firms and corporations using innovative software, cost-effective managed services, and deep legal and regulatory industry expertise. Consilio has extensive experience in litigation, HSR second requests, internal and regulatory investigations, eDiscovery, document review, information governance, compliance risk assessments, cybersecurity, law department management, contracts management, legal analytics, paper discovery, and digital printing, as well as legal recruiting and placement. Consilio employs leading professionals in the industry, applying defensible workflows with patented and industry-proven technology across all phases of the eDiscovery and risk management lifecycle. ISO 27001:2013 certified, the company operates offices, document review, and data centers across Europe, Asia, and North America. For more information, please visit us at www.consilio.com.
About Xact Data Discovery
Xact Data Discovery (XDD) is a leading international provider of eDiscovery, data management, and managed review services for law firms and corporations. XDD helps clients optimize their eDiscovery matters by orchestrating precision communication between people, processes, technology, and data.
XDD services include forensics, eDiscovery processing, Relativity hosting and managed review. XDD has 23 offices throughout the United States, one in the UK and one in India. XDD offers exceptional customer service with a commitment to responsive, transparent, and timely communication to ensure clients remain informed throughout the entire discovery life cycle. For more information, please visit us at www.xactdatadiscovery.com.
About Stone Point Capital LLC
Stone Point is an investment firm based in Greenwich, CT, with approximately $30 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in a number of alternative asset classes, including private equity through its flagship Trident Funds. Stone Point also manages both liquid and private credit funds and managed accounts. In addition, Stone Point Capital Markets supports our firm, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit www.stonepoint.com.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in businesses across the financial services sector in financial technology, insurance, investment management, business services, credit, and healthcare. The firm has $6.1 billion in assets under management as of December 31, 2020. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.
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