William Blair acted as the exclusive financial advisor to NetDocuments, in connection with its pending investment from Warburg Pincus (Warburg). Warburg is acquiring Clearlake Capital Group’s (Clearlake) interest in NetDocuments, while Cove Hill Partners (Cove Hill) retains its interest. The transaction signed on May 19 and is expected to close in June.
Transaction Highlights
- Strong relationships and trusted guidance: William Blair has maintained a long-standing partnership with NetDocuments, Cove Hill, and Clearlake, advising NetDocuments for the third successive transaction. The transaction team successfully guided NetDocuments through each step of the process and closely collaborated on marketing materials, coordinating due diligence, and navigating accelerated and unique process dynamics.
- Unparalleled industry expertise: The transaction team’s deep domain expertise advising market leading SaaS companies within the legal software ecosystem enabled them to best position NetDocuments and articulate a powerful growth story.
- Process and execution excellence: William Blair constructed an accelerated process with a targeted group of the most likely and aggressive strategic and financial buyers, creating a highly competitive dynamic which resulted in a strong outcome for NetDocuments’ shareholders.
About the Companies
Founded in 1999, with more than 3,150 enterprise customers worldwide, NetDocuments is the legal industry's most trusted cloud-based content services and productivity platform. Complete with state-of-the-art built-in security, compliance, and governance solutions, NetDocuments offers document management, email management and collaboration technology complete with disaster recovery, enterprise search, and matter centricity features.
Cove Hill Partners is a long-term oriented private equity firm focused on partnering with outstanding management teams to build market-leading technology and consumer companies. The Boston-based firm currently manages long-duration funds with over $2.5 billion of commitments from its investors and founders. The firm was founded in 2017 by seasoned private equity investors to invest their personal capital alongside a small group of like-minded investors. Cove Hill has an innovative structure that provides the flexibility to enable a patient, concentrated, and value-add approach in a small portfolio of long-term investments.
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has approximately $35 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas.
Warburg Pincus LLC is a leading global growth investor. The firm has more than $60 billion in private equity assets under management. Warburg Pincus has invested more than $22 billion in technology companies since inception and is one of the most active growth investors in enterprise technology and cloud-based platforms. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $90 billion in over 930 companies in more than 40 countries. The firm is based in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.
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