Tuesday, July 06, 2010

Veritext Acquired by Investcorp

NEW YORK, July 6 /PRNewswire/ -- Investcorp, a global provider and manager of alternative investment products, announced today that it has acquired Veritext Holding Company, a leading national provider of deposition and litigation support services to law firms, Fortune 500 corporations, and regulatory agencies in the United States. The terms of the transaction were not disclosed.

Veritext was acquired from an investor group led by The Riverside Company and members of the management team that bought the company in August 2005.

Veritext has its headquarters in New Jersey and operates within the stable and growing legal services industry through its 30 locations across six core geographic regions in the largest legal markets in the United States. The company provides technology and services that capture testimony during a deposition which is a critical part of the discovery phase of most civil litigation cases in the United States.

"Over the past several years, Veritext's management team, led by CEO Michael Sandler and COO Nancy Josephs, has built a market leading company by leveraging its proprietary technology to offer a variety of highly differentiated deposition services," said Chris McCollum, a Managing Director in Investcorp's private equity business. "We believe that Veritext has multiple ways to grow. It has a leading position in the growing deposition services market, the capability to generate strong free cash flow and the opportunity to complete further add-on acquisitions.

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