Exterro Completes Significant Strategic Recapitalization in Excess of $1 Billion

Leeds Equity Partners, in partnership with Exterro management, closes its third continuation vehicle as part of this transaction

PORTLAND, Ore. – July 26, 2022 – Exterro, Inc., a portfolio company of Leeds Equity Partners (“Leeds Equity”), announced today that it has completed a strategic recapitalization and secured additional committed equity capital as part of a continuation vehicle transaction valuing Exterro at more than $1 billion (USD). With the support of a group of leading global institutional investors co-led by Coller Capital and Glendower Capital, this transaction will enable Exterro to devote more resources to the growth of its Legal GRC portfolio of products through M&A and product development.

Exterro will continue to develop new initiatives for law firms and service providers, drive accelerated growth of its digital forensics product set and reinvest in its first-class global Training Academy, as it delivers new products to new geographies. As part of the recapitalization, Leeds Equity has made a significant new equity commitment from its latest flagship fund, Leeds Equity Partners VII, L.P., alongside the continuation vehicle and management.

Exterro is a leading provider of Legal Governance, Risk, and Compliance (GRC) software, which provides deep data insights, workflow efficiencies, and process orchestration across e-discovery, digital forensics, data privacy, and cybersecurity use cases. The company operates in a large, fast-growing market with significant macro drivers, including increasing litigation volumes, the proliferation of corporate data, and the convergence of data risks.

Executive Perspectives

“Since our last funding with Leeds Equity, global demand for Exterro’s Legal GRC platform has grown exponentially... As the lines between legal, finance, IT, and security departments blur, Exterro is in a unique position, offering the only platform that can effectively unify and address the data and the legal requirements of those disparate business silos.”— Bobby Balachandran, Founder and CEO of Exterro

“Bobby Balachandran and the entire Exterro team have built an industry-leading business uniquely positioned to help enterprises manage and analyze data and drive actionable business intelligence.”— Jacques Galante, Partner at Leeds Equity Partners

Growth Milestones Since 2018

• Revenue: More than quadrupled since Leeds Equity’s initial investment.
• Customer Base: Now serves more than 3,000 customers globally.
• Strategic M&A: Successful acquisition and integration of Jordan Lawrence and AccessData.
• Corporate Clients: Includes global giants such as Boeing, United Healthcare, American Express, Aflac, and Oracle.

Exterro Gives Back

The company also contributes to numerous civic causes through its Exterro Gives Back initiative, supporting organizations such as:

• Women Entrepreneurs of India
• Operation Child (US)
• Safe Escape refuge (UK)
• Founding of the LifeRay Foundation

Jefferies Financial Group, Inc. acted as the financial advisor, while Kirkland & Ellis and Reed Smith served as legal counsel on the transaction.

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