News
Mitratech Announces Strategic Investment by HgCapital to Fuel Global Growth
April 2017 by Marc Jacob
Mitratech announced it has agreed to a strategic investment from HgCapital, a leading global growth private equity firm with offices in London, England and Munich, Germany. TA Associates, which invested in Mitratech 18 months ago, will continue to retain a minority interest in Mitratech.
For over 30 years, Mitratech has consistently been recognized for the breadth, depth, and proven value of its software solutions for companies of all sizes and all industries. Mitratech’s software portfolio has expanded to include solutions that help its clients meet increasingly demanding compliance and regulatory obligations. Today, Mitratech provides legal matter management, spend management, e-Billing, legal hold, contracts management, risk management, policy management, audit management, and health & safety management solutions for over 1,200 organizations and 500,000 users across the globe. Additionally, over 12,000 law firms, including 100% of the Am Law 200 and 99 of the Global 100 law firms, collaborate with their corporate clients through Mitratech’s e-Billing product offerings.
Since TA Associates’ investment in 2015, Mitratech has seen tremendous success in the U.S. and international markets driven by its strong financial profile, investment in its award-wining software portfolio, and multiple strategic acquisitions. In that time, Mitratech’s footprint has expanded to include operations in the United Kingdom and Melbourne, Australia. Over the same period, Mitratech’s global user community has more than doubled while client retention has stayed consistently above 95%.
Founded in 2000, HgCapital is a technology sector expert that invests in high-growth private companies with the goal of supporting management teams to help companies grow faster than their market, create employment and become the leader in their industry. Today, the firm has a current portfolio of 35 companies around the world and has more than $10.5 billion in funds under management.
Additional terms of the deal were not disclosed. Lazard and Marks Baughan Securities acted as financial advisors to TA Associates and Mitratech during the transaction. Goodwin Procter LLP provided legal advice to TA Associates and Mitratech.
