By a News Reporter-Staff News Editor at Investment Weekly News -- DTI, the largest private U.S. provider of legal process outsourcing ("LPO") and managed services, has closed an investment by OMERS Private Equity ("OPE"), the private equity arm of OMERS. No terms were disclosed.
"We are excited to build upon our strong momentum as the leading provider of LPO services. We are looking forward to our partnership with OPE as their large capital base and long-term investment approach make them an ideal partner for DTI," said John Davenport, Founder and CEO of DTI.
Since its founding in 1998, DTI has grown to be the largest private U.S. provider of LPO and managed services with 29 offices in the leading U.S. markets and a presence in nearly 70 cities across the nation, serving Fortune 500 Corporations and top national law firms. DTI has demonstrated strong organic growth, which has been supplemented by nine strategic acquisitions since 2008.
"We believe DTI is the clear leader in the LPO market and we are excited to partner with John Davenport and his team. DTI is a great addition to our growing business services portfolio in North America," said Michael Graham, Country Head USA and Co-Head North America for OPE.
Ira Kleinman, Senior Managing Director at Harvest Partners, said, "We appreciate the effort by the DTI team since our investment in 2011 and thank them for a great partnership over the past three years." Andrew Schoenthal, Managing Director at Harvest Partners, added, "DTI methodically executed the organic growth and tuck-in acquisition strategy we jointly developed. The business is well positioned for continued strong growth and market share gains in the multi-billion dollar LPO industry." About DTI: Headquartered in Atlanta, GA, DTI is the #1 private U.S. provider of legal process outsourcing ("LPO") and managed services. DTI serves 3,000+ clients, including Fortune 500 corporations and top national law firms through a technology-enabled, fully integrated solution offering that includes legal, compliance and professional LPO services. For corporations, DTI provides legal support functions such as electronic discovery, managed review, legal research, contract review and risk and compliance services. For law firms, the Company's services include computer forensics, data acquisition, electronic discovery, managed review and a variety of middle and back office support functions. DTI's service offerings deliver significant value through cost reductions, increased efficiency and improved outcomes. About OMERS Private Equity and OMERS: OMERS Private Equity manages the private equity activities of OMERS and has over CAD$7 billion of investments under management. OPE is headquartered in Toronto, Canada, with offices in London and New York. For further information visit: www.omerspe.com.
OMERS is one of Canada's largest pension funds with over CAD$65 billion in net assets. It provides first-class pension administration and innovative products and services to over 440,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, OMERS uses a direct drive, active investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information, please visit www.omers.com, or www.omersworldwide.com. About Harvest Partners: Founded in 1981, Harvest Partners, LP is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the industrial and energy services, manufacturing and distribution, consumer and business services, and healthcare services sectors. This strategy leverages Harvest's over 30 years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.
Keywords for this news article include: Harvest Partners LP, Investment and Finance.
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