Bridgepoint Development Capital ("BDC") has agreed the sale of BigHand, a leading provider of workflow and productivity software, to US-based private equity firm Levine Leichtman Capital Partners (“LLCP”).
BigHand, acquired by BDC in 2012 in a £48 million buyout, is a leading global provider of productivity and profitability software to the legal, healthcare and professional services markets and supports more than 3,500 organisations globally from offices in London, Seattle, Chicago, Sydney, Eindhoven and Toronto. The company enjoys high levels of customer satisfaction and strong recurring revenues.
Commenting on the realisation, Bridgepoint Development Capital Partner, Mark Stroud, said: "Under our ownership, BigHand expanded its offering both through internal development and via M&A, completing six add-on acquisitions, enlarging its product portfolio and diversifying its offering into adjacent sectors. It is now well placed to continue its growth under new ownership, and we wish management and staff continued success."
BigHand's broadened portfolio of complementary solutions now includes a range of legal workflow, document creation, business intelligence and matter pricing tools which drive efficiency improvements and generate significant time and cost savings for its clients.
BDC was advised by: Rothschild (corporate finance), Travers Smith (legal), EY (finance & tax).