BGF and other shareholders have sold Anexsys to Xact Data Discovery, a portfolio company of JLL Partners

Anexsys is the U.K.’s leading independent electronic discovery (eDiscovery) and associated legal services company, offering technology-enabled end-to-end solutions that lower costs and reduce risks in complex legal proceedings. Anexsys has a longstanding relationship with Relativity and offers a range of custom software solutions built on top of the platform. The company was a subsidiary of Hobs Group, which is backed by BGF, the U.K.’s most active investor in growing businesses.

Majority owned by New York-based JLL Partners, XDD is a U.S. headquartered leading provider of eDiscovery, data management and managed review services for law firms and corporations. The acquisition enables XDD to expand its services into the U.K. and the combination will allow for both businesses to jointly service customers internationally.

Rob Crowley, Managing Director at Anexsys, commented, “We are excited to merge forces with XDD, who we see as a natural fit. We believe this transaction will be highly beneficial to both organizations, and having access to XDD’s expansive services, operations and expertise will enable us to further strengthen our relationships with key clients, while expanding business opportunities with new organizations.”

Lincoln International acted as the exclusive financial adviser to the shareholders of Anexsys. Working closely with the management team, Lincoln prepared the business for sale (including carve-out considerations) before leveraging its global platform to access key international trade buyers, negotiating price and commercial terms and managing the entire transaction to a successful completion, despite restrictions due to COVID-19.

Chris Brooks, Managing Director and head of the U.K. TMT Group at Lincoln International, commented, “We are very pleased to have been involved in this deal and are delighted to have supported the management team and shareholders. This transaction is a further example of Lincoln leveraging its global platform to find the ideal new partner for Anexsys, against the backdrop of COVID-19.”

Business Growth Fund Anexsys Hobs Group Xact Data Discovery JLL Partners 2020
  • 2020
    Close Year
  • Technology, Media & Telecom
  • PE Backed
    Client Type
  • Strategic | Cross-border
    Transaction Type
  • USA | United Kingdom
Lincoln's deep sector expertise, experience with the core global acquirers and commitment to our process enabled us to achieve an outstanding result. Their hands-on support from start to finish was instrumental in delivering this excellent outcome.
Ben Barker
Head of Portfolio (North) at BGF

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