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November 9, 2015 – Akoya Capital and its partner, PNC Riverarch, are pleased to announce the sale of LawLogix Group, Inc. to Hyland Software, a developer of enterprise content management software. Hyland is a portfolio company of Thoma Bravo.
LawLogix is an industry-leading Software-as-a-Service (SaaS) provider of I-9 and E-Verify compliance and immigration case management solutions to a diversified, blue-chip customer base spanning industry verticals that include retail, manufacturing, healthcare, education, legal and the non-profit sector.
Akoya identified the business as an attractive opportunity that fit with its Professional Information Services Sector thesis in mid-2012 and Akoya and PNC Riverarch closed the purchase of the business from the founder in late 2012.
John Regazzi, Akoya Managing Director and Professional Information Services Sector Leader, stated: "LawLogix represented an opportunity to significantly grow a business with a great customer base, solid suite of products and a leading market share in its niche. By recruiting new leadership and working with the management team to refine a go-to-market strategy, invest in engineering and product development and enhance customer service, Akoya, PNC and the management team were able to significantly grow LawLogix's earnings and accelerate its topline growth."
Max DeZara, Managing Partner at Akoya, added: "LawLogix is a terrific business and we are proud of the growth and accomplishments that the management team, in close collaboration with Akoya and PNC, were able to achieve during our ownership period."
Akoya is Seeking New Platform Investments in Professional Information Services
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Akoya Capital is a sector focused investment firm that creates and nurtures partnerships between management and capital. With industry-leading sector leaders, proprietary platform organizations, experienced management teams, and co-investors, we collaborate on compelling value creation opportunities. Together, we develop and execute industry sector acquisition strategies that deliver significant, measurable value for management, partners, and shareholders.
Led by the industry knowledge of our sector leaders, and CEO's, we are highly selective in the sector-based investments we pursue. This exclusivity allows us to work with the finest companies from each industry. We currently focus on investments in the following sectors: specialty chemicals, consumer foods, professional information services, consumer products and industrial manufacturing.
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Professional Information Sector Leader