HAYSTACKID LLC Announces Recapitalization to Remain Independent and Fund Further Growth
CHICAGO (PRWEB) October 23, 2017 -- HAYSTACKID LLC, an international end-to-end eDiscovery and forensics services and solutions provider, today announced it has completed a recapitalization that will allow the company to grow into new areas while maintaining its independence. Haystack President and Chief Executive Officer Kevin Glass will retain majority ownership and the entire management team will remain in place. The deal was funded by Knox Capital, which becomes a new shareholder.
“In an era when most smaller and midsize eDiscovery companies are acquisition targets, this strategic recapitalization enables Haystack to remain an independent boutique, positioned to serve any size law firm or corporate law department on all types of projects, regardless of scope,” said Glass. “Many clients value agility, responsiveness and service levels that giant providers—most of whom have grown by acquisition—are not able to provide. We are poised to be their best option, now and in the future.”
The recapitalization also signifies the health and growth potential of Haystack, and Knox Capital has pointed to the unique stature the company holds in the marketplace.
Alex Gregor, founder and partner of Knox Capital, added, “Haystack has an impressive corporate and law firm client list that values deep technical competency and outstanding service. This recapitalization will allow the company to continue its impressive organic growth and scale as necessary to continue to serve its clients as an independent company.”
In addition to its traditional offerings in collection, processing, hosting, managed services, and consulting, Haystack recently launched a new managed review offering.
“Our managed review service has already yielded big results for a number of corporate and Am Law 100 clients,” shared Glass. “We expect it to continue to grow and are pleased to have the resources to target even more new areas where we can serve our clients.”
“Haystack’s history in forensics, data preservation and analysis is the basis for the company’s data-driven approach to everything it does,” said Knox Capital’s Operating Advisor Mike Bryant. “Its well-deserved reputation for having the most technical, data-savvy professionals in the industry is a big difference maker.”
“We have earned a reputation for handling the most complex matters and leveraging our expertise and technology to manage risk and expense. This investment will allow us to continue to attract the brightest minds in our industry and ensure we have the infrastructure to support growing client demands,” concluded Glass. “We now also have the ability to access additional funds to make strategic acquisitions and accelerate growth. I look forward to working with our board of directors and investors to identify opportunities.”
For more information, please visit http://www.haystackid.com.
About HAYSTACKID LLC
Haystack is an international, end-to-end litigation support service provider, with office locations throughout North America and Europe. Haystack provides corporate customers and their counsel with cost predictability options that allow accurate budgeting and forecasting of their discovery expenses without the additional cost of software, hardware or implementation fees. Haystack is headquartered in Boston with offices in New York City; Washington, D.C.; Chicago; Dallas; Houston; Los Angeles; San Diego; San Francisco; Beaverton, Oregon; Toronto, Canada; Paris, France; and Frankfurt and Berlin, Germany. http://www.haystackid.com
About Knox Capital
Knox Capital was created on the belief that traditional private equity cannot address two critical needs facing many family, founder and entrepreneur-owned middle market businesses: a flexible investment horizon and a call for real, hands-on operating resources. Knox, through its extensive executive and operating advisor network, works with long-term focused private investors to create bespoke investment ideas across a variety of industries in partnership with owners and management. http://www.knox-cap.com
HAYSTACKID Marketing Contact: pr(at)haystackid(dot)com
Jeremy van der Heiden, HAYSTACKID LLC, http://www.haystackid.com, +1 720-365-0382, [email protected]
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