Brentwood, TN–December 9, 2016. Northcreek Mezzanine, Resolute Capital Partners, and founder Robert Brady announced today that they have completed the sale of BLR (Business and Legal Resources) to Leeds Equity Partners, a New York based private equity fund focused exclusively on investing in the Knowledge Industries.
Under the ownership of Northcreek Mezzanine, Resolute Capital Partners and founder Robert Brady, BLR has significantly transformed the business by breaking into new vertical markets, expanding its product portfolio, and successfully completing several acquisitions—all have positioned the company as a market leader in the industries served today.
“We are very pleased to complete the sale of BLR to Leeds Equity Partners,” said Barry Peterson, Managing Partner of Northcreek Mezzanine. “The growth of the company and the aggressive diversification of revenue channels the past few years has created a scalable platform for success. We congratulate Leeds on closing the transaction and partnering with a great management team.”
“Dan and the management team of BLR embody the values we look for in a partner and those values have translated into business success,” said Bill Nutter, Managing Partner at Resolute Capital. “We are proud to have assisted this business in its growth and look forward to watching it continue to flourish in this new partnership with Leeds.”
“With over 40 years of investment in this company, it has been exciting to see how the management team has evolved the business in a way that brings extraordinary value to customers, shareholders and employees" said Robert Brady, founder of BLR.
BLR will join a newly formed entity, Simplify Compliance LLC, exclusively focused on the information and compliance solutions sector. Leeds Equity created this new entity through simultaneous negotiations and a merger of four market-leading companies: BLR and three portfolio companies owned by UCG; DecisionHealth, Argosy and CCMI. This strategic combination creates a leading provider of mission critical information, workflow solutions and services to the highly complex end markets of healthcare, human capital management, financial services, and telecommunications. Simplify Compliance will be led by Dan Oswald and headquartered in Brentwood, TN.
“I am very proud of what we have accomplished during our partnership with Northcreek, Resolute and Bob Brady,” said Oswald. ”The support and industry knowledge of our founder coupled with the business acumen of these seasoned investors allowed us to complete four acquisitions and successfully launch a wide variety of new products and category extensions during this period, which has enabled us to better serve our customers. We are excited to have found a similar partnership mindset with Leeds, sharing the same passion for driving innovative products and services for the global knowledge economy.”
Covington & Burling served as legal counsel to Leeds Equity Partners. BLR and UCG were advised by JEGI, the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors. Finn Dixon and Sherrard, Roe, Voigt, Harbison served as legal counsel to BLR and UCG. LBMC also served as an adviser to BLR on this transaction.
About Northcreek Mezzanine:
Northcreek Mezzanine brings over 75 years of experience and provides creatively structured mezzanine and senior debt investments in middle-market companies. Currently investing out of two funds with financial resources of $250 million comprised of partnership equity and funding through the U.S. Small Business Administration through its Debenture program. Northcreek targets companies with revenues between $5-$200 million and invest in a variety of transactions including leveraged acquisitions, recapitalization, growth/expansion, buyout and balance sheet re-positioning or senior deleveraging.
For additional information on Northcreek Mezzanine, see http://www.northcreekmezzanine.com/
About Resolute Capital Partners:
Resolute Capital Partners is a provider of mezzanine debt and equity for small, growing businesses throughout the United States. Currently investing out of Resolute Capital Partners Fund III, LP, a Small Business Investment Company seeking to identify lower middle market business that have established a strong market position and are poised for growth, Resolute Capital typically invests $2-$20 million in the form of mezzanine debt and equity to support acquisitions, recapitalizations and other growth needs.
For additional information on Resolute Capital Partners, see http://www.resolutecap.com/
BLR (Business & Legal Resources) helps U.S. businesses simplify compliance with state and federal legal requirements. Expert in-house editors and an exclusive attorney network provide comprehensive, reliable state-specific information for businesses in all 50 states. Award-winning informational products – including training programs, events, web portals, reports and subscription services – give businesses of all sizes and industries the best tools available at affordable prices.
For more information on BLR, see http://www.BLR.com/