Atlanta, GA, March 14, 2013 – CHILDS Advisory Partners is pleased to announce the successful merger of Update, Inc. (“Update”) with a subsidiary of Conversion Capital L.P. (“Conversion”). CHILDS Advisory Partners served as a financial advisor to Update. Financial details of the transaction were not announced.
Update is a leading nationwide provider of outsourced legal services, including temporary legal staffing and discovery management services, to AmLaw 200 firms, Fortune 500 companies, and mid-market law firms and corporations. Update Legal primarily provides temporary staffing services for attorneys with sophisticated legal support to a broad range of industries and practices. Update Discovery provides a holistic approach to the Electronic Discovery Reference Model and discovery management cycle through a single, integrated discovery strategy as opposed to separate strategies for collection, processing, hosting, and review.
Conversion is a New York-based private investment group committed to providing expansion capital to assist exceptional businesses in accelerating their growth. The addition of Update expands Conversion’s outsourced legal services portfolio, which currently includes investments in TrialGraphix, Inc. and Driven, Inc.
Prior to the merger, Update was primarily owned by a fund affiliated with Brown Brothers Harriman & Co. (“BBH”), Gryphon Investors (“Gryphon”), as well as management. As a private equity fund manager, BBH has worked with a significant number of management teams running businesses at critical inflection points in terms of their growth and strategic development. Gryphon is a San Francisco-based private equity firm focused on making leveraged acquisitions of, and growth investments in, middle-market companies with experienced management.
The successful completion of this merger marks the third transaction completed by CHILDS Advisory Partners in 2013.
About CHILDS Advisory Partners
CHILDS Advisory Partners provides exceptional investment banking services to high‐performing business services and technology companies. Our unique combination of global sector focus, process excellence and strength of team allow us to achieve successful outcomes for our clients. Collectively, our senior bankers have executed over 450 M&A and financing transactions. CHILDS is a member of FINRA and SIPC and is a registered broker‐dealer.
For further information please contact:
P: (404) 751-3000
F: (404) 751-3001
CHILDS Advisory Partners
3438 Peachtree Road NE
Atlanta, Georgia 30326
“We are fortunate to have a strong team of smart, driven professionals who won’t settle for less than the best. It’s that drive that high-growth clients and private equity firms count on for results over the long-term.”
—Jim Childs, Founder
CHILDS Advisory Partners