Monday, 29 January 2018

KLDiscovery announces growth equity investment from WestView Capital Partners

The investment came with participation from existing backers The Carlyle Group and Revolution Growth

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McLean, Va. – January 29, 2018 -- KLDiscovery (KLD) today announced that it has received a significant growth equity investment from WestView Capital Partners, with participation from its existing backers The Carlyle Group and Revolution Growth. Investment proceeds will be used to further the significant investments the company has made in sales, marketing, and technology since the acquisition of Kroll Ontrack in 2016.

“With this investment, KLDiscovery is armed with the capital necessary to execute our growth plan over the next several years. Investments in sales initiatives, our new global data centers in EMEA, APAC, and North America, our cloud technology for both legal technologies and data storage technology, and critical software development projects, like our on premise and cloud data hosting solution Nebula, are all scheduled for the next two years," said Chris Weiler, CEO of KLDiscovery. "Our timeline for growth is very aggressive and our plans are expansive. This investment comes at exactly the right time.”

KLDiscovery welcomes back WestView Capital, which was a previous investor in LDiscovery before its sale to The Carlyle Group in 2015. As part of the investment, Rick Williams, Managing Partner at WestView, will join KLD’s Board of Directors. “We are excited to invest in KLDiscovery and have another opportunity to partner with Chris and his team. Chris’ vision, innovation, and execution produced outstanding performance at LDiscovery and led to a highly successful result in our prior investment. With significant scale, a best-in-class technology platform, and an unmatched focus on serving its clients, KLD has become the global industry leader in eDiscovery and data recovery,” said Rick Williams Managing Partner at WestView.

After combining LDiscovery with Kroll Ontrack to form KLDiscovery, the company now operates a global eDiscovery platform with more than 1,000 employees in 43 offices spanning 20 countries. “With the additional capital and the team in place led by Chris Weiler, we enter 2018 poised to grow our global footprint through continued investment in technology, people, and our best-in-class customer service,” said KLDiscovery Chairman Dan Akerson.

About WestView Capital Partners

WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer and growth industrial. For more information, please visit www.wvcapital.com.