SANTA MONICA, CA and LEHI, UT (March 28, 2017) – Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) announced that in partnership with management it has completed the acquisition of NetDocuments (the “Company”), the leading provider of secure cloud-based document management, email management, and collaboration solutions to law firms and corporate legal and compliance departments. Financial terms were not disclosed.
NetDocuments is the only cloud-first and cloud-native content management solution purpose-built for the legal industry and focused on meeting customer needs around security and compliance. The Company’s innovative end-to-end platform combines robust security, encryption and compliance features with easy-to-use functionality that addresses the evolving needs of today’s professionals.
“Our investment reflects our confidence in the exceptional NetDocuments management team and the Company as a platform to grow both organically and through acquisitions,” said Behdad Eghbali and Prashant Mehrotra of Clearlake. “With the transaction now complete, NetDocuments can leverage our partnership to further invest in the Company’s leading document management, email management, and collaboration solutions, and accelerate its growth trajectory.”
“We are excited to begin a new chapter in partnership with Clearlake,” said Matt Duncan, CEO NetDocuments. “We remain focused on delivering best-in-class, highly secure, cloud-based content management and email management solutions to our customers. Clearlake’s substantial resources will help us further enhance our offering and accelerate the ongoing cloud transition in the legal and compliance sector.”
William Blair & Company LLC acted as the exclusive financial advisor to NetDocuments. AB Private Credit Investors provided a fully underwritten facility to help finance the transaction and acted as lead arranger and administrative agent. Matt Duncan, CEO NetDocuments, and Alvin Tedjamulia, CTO NetDocuments, have joined the Company’s Board of Directors alongside the Clearlake team.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.SM The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake currently has over $3 billion of assets under management and its senior investment principals have led or co-led over 90 investments. More information is available at www.clearlakedev.wpengine.com.
Founded in 1999, and with offices in the US, UK, and Australia, NetDocuments is the leader in cloud-based document and email management. With hundreds of thousands of users across 140 countries, organizations enjoy the power and simplicity of NetDocuments trusted cloud platform, complete with built-in security, compliance, disaster recovery, matter centricity, enterprise search, mobility, records management, and collaboration. More information is available at www.netdocuments.com.
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