Bain Capital, TA Associates and Vista among PE firms buying and selling legal tech companies

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Bain Capital, TA Associates and Vista among PE firms buying and selling legal tech companies

Good morning, Hubsters.

It’s a quiet morning, with many people observing Yom Kippur.

At PE Hub, we’re featuring an in-depth look at the modernization of an old industry, the legal profession.

Bain Capital, TA Associates and Vista Equity Partners are among the firms buying and selling legal tech companies.

On a related note, Serent Capital-backed Actionstep announced a legal tech deal earlier this morning.

We’re also taking a close look at a recent investment from Chicago’s GTCR.

Legal eagles

The legal sector is widely perceived as a slow adopter of technology, writes PE Hub’s Obey Martin Manayiti.

Private equity firms are seizing the opportunities to invest in legal tech. Some of the firms buying and selling in the sector include Bain Capital, TA Associates, K1 Investment Management, Renovus Capital Partners and Vista Equity Partners.

To read about all the deal activity in the sector, upgrade to the premium version of the Wire.

This just in

In a sign of all the deal activity in the legal sector, earlier this morning, Actionstep, a practice management software provider for midsize law firms, announced the acquisition of Toronto-based legal accounting software company Soluno, from professional services payments company AffiniPay.

Banking on

Moving onto the banking industry …

The recent failures of Silicon Valley Bank, First Republic Bank and Signature Bank have highlighted the importance of balance sheet and cash management services, like those provided by R&T Deposit Solutions.

To that end, in August, Chicago-based private equity firm GTCR took a 50 percent stake in R&T. The remaining 50 percent of the New York-based company is owned by existing shareholders, which include Estancia Capital Partners and R&T’s founding team and employees.

To find out how R&T fits into GTCR’s investment strategy, what it has in common with the firm’s past investments and what else GTCR has backed lately, PE Hub’s Rafael Canton spoke with Mike Hollander, a managing director at the firm.

Upgrade to the premium version of the Wire to read Rafael’s interview.

I’ll sign off on that note.

As always, you can reach me at [email protected].

PE Hub Europe’s Craig McGlashan will be back with more tomorrow.

All the best,

MK

Read the full Wire commentary on PE Hub ...

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