November 22, 2022 CHICAGO, IL—CIVC Partners, LP (“CIVC”) announced today it has closed on the sale of Magna Legal Services (“Magna”), a litigation support services provider, to Odyssey Investment Partners (“Odyssey”), a growth-focused, middle-market private equity firm. Financial terms of the transaction were not disclosed.
Magna provides litigation support services to over 13,000 law firms, corporations, insurance carriers, and government agencies. The Company provides critical support to its clients throughout the litigation process, including court reporting, translation, videography, records retrieval, jury evaluation and consulting, graphic design, and trial presentation services. Magna was founded in 2007 and has established itself as one of the leading and fastest growing litigation support providers in the industry. Headquartered in Philadelphia, the Company has a national footprint with offices across the US serving clients in all 50 states.
The existing senior management team, including Chief Executive Officer Mark Williams, Founders Mark Calzaretta and Peter Hecht, as well as Jon Ackerman, Tony Vaglica, and Matt Chiappa will continue to lead the Company and have invested alongside Odyssey in the transaction.
“We chose to partner with Odyssey because of the firm’s extensive track record of supporting management teams looking to further drive growth and expand their businesses,” commented Mark Williams, Magna’s CEO. “Over the last fifteen years, we have been able to scale our business both organically and through a proven acquisition platform. Odyssey shares our vision for the future, and we are eager to leverage their team’s deep expertise and resources as we continue to execute on our ambitious business plan and build the premier firm in the legal services market. We would like to thank CIVC for their partnership over the past several years. We have achieved sustained success with their support, investment, and insights.”
“CIVC is proud to have been a part of Magna’s success over the past four years, during which time the company delivered above-market organic growth, completed six accretive add-on acquisitions, and added new service lines,” said Scott Schwartz, Partner at CIVC Partners. “We expect many years of continued success for Magna.”
Houlihan Lokey served as financial advisor and Latham & Watkins LLP served as legal counsel to Odyssey. Harris Williams LLC served as financial advisor and Ropes & Gray LLP served as legal counsel to Magna.
About Magna Legal Services
Magna is a leading provider of litigation support services to law firms, corporations, insurance carriers, and government agencies, offering a broad array of services that support clients through each phase of the litigation process, including court reporting, translation, videography, records retrieval, jury evaluation and consulting, graphics design, and trial presentation services. For further information about Magna, please visit www.magnals.com.
About CIVC Partners, LP
CIVC Partners is a Chicago-based private equity firm established in 1970 to provide growth capital to entrepreneurs and founders. Since 1989, CIVC has invested over $2.1 billion in 77 platforms, primarily as growth and buyout capital, along with founders and executives in middle-market companies mainly in the business services sector. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.