Chicago, IL (October 23, 2017) HAYSTACKID LLC, an international end-to-end eDiscovery and forensics services and solutions provider, today announced it has completed a recapitalization that will allow the company to grow into new areas while maintaining its independence. Haystack President and Chief Executive Officer Kevin Glass will retain majority ownership and the entire management team will remain in place. The deal was funded by Knox Capital, which becomes a new shareholder.
“In an era when most smaller and midsize eDiscovery companies are acquisition targets, this strategic recapitalization enables Haystack to remain an independent boutique, positioned to serve any size law firm or corporate law department on all types of projects, regardless of scope,” said Glass. “Many clients value agility, responsiveness and service levels that giant providers—most of whom have grown by acquisition—are not able to provide. We are poised to be their best option, now and in the future.”
The recapitalization also signifies the health and growth potential of HAYSTACKID, and Knox Capital has pointed to the unique stature the company holds in the marketplace.
Alex Gregor, founder and partner of Knox Capital, added, “HAYSTACKID has an impressive corporate and law firm client list that values deep technical competency and outstanding service. This recapitalization will allow the company to continue its impressive organic growth and scale as necessary to continue to serve its clients as an independent company.”
In addition to its traditional offerings in collection, processing, hosting, managed services, and consulting, HAYSTACKID recently launched a new managed review offering.
“Our managed review service has already yielded big results for a number of corporate and Am Law 100 clients,” shared Glass. “We expect it to continue to grow and are pleased to have the resources to target even more new areas where we can serve our clients.”
“HAYSTACKID’s history in forensics, data preservation and analysis is the basis for the company’s data-driven approach to everything it does,” said Knox Capital’s Operating Advisor Mike Bryant. “Its well-deserved reputation for having the most technical, data-savvy professionals in the industry is a big difference maker.”
“We have earned a reputation for handling the most complex matters and leveraging our expertise and technology to manage risk and expense. This investment will allow us to continue to attract the brightest minds in our industry and ensure we have the infrastructure to support growing client demands,” concluded Glass. “We now also have the ability to access additional funds to make strategic acquisitions and accelerate growth. I look forward to working with our board of directors and investors to identify opportunities.”