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Content Asssessment: An Investment Storm Surge? Avalon Broadens Managed Review Horizon with Tower Legal Solutions Acquisition
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A short assessment of the qualitative benefit of the recent announcement by Surge PE of the acquisition and addition of Tower Legal Solutons to its Avalon platform.
Editor’s Note: On August 28, 2023, Surge PE announced the addition of Tower Legal Solutions to its Avalon platform. This significant move aims to fill a critical service gap in Avalon’s offerings, particularly in managed review. The transaction was financed by Woodforest National Bank and NorthCoast Mezzanine, with advisory roles played by Kenyon Group, BakerHostetler, and Moss Adams. This development is noteworthy for professionals in the legal technology sector as it follows recent investment and consolidation patterns in the eDiscovery ecosystem, with service and software providers striving to provide a complete and comprehensive range of services.
Media Announcement Summary
Avalon Broadens Managed Review Horizon with Tower Legal Solutions Acquisition
ComplexDiscovery Staff
In a move that aligns with industry trends, Surge PE has successfully added Tower Legal Solutions to its Avalon platform, a strategic move that fills a significant service gap for Avalon. The transaction was facilitated through debt financing provided by Woodforest National Bank and NorthCoast Mezzanine. Advisors for the deal included Kenyon Group as the exclusive financial advisor to Tower, BakerHostetler as lead counsel, and Moss Adams as the diligence provider.
Avalon, known for its technology-based services such as digital forensics, cybersecurity, and eDiscovery, has found a complementary partner in Tower Legal Solutions. According to Jon Bates, CEO of Avalon, “Managed review is the one major service line Avalon was missing. Tower is an industry titan in this category, making the combination a great opportunity to expand service offerings to our respective customer bases.” He further emphasized that Avalon’s eDiscovery and cybersecurity divisions are among the company’s fastest-growing sectors.
Tower Legal Solutions, headquartered in New York City, has been in operation since 2007 and has built its reputation on a foundation of over 85 years of combined experience in the legal and staffing industries. The company specializes in a range of services, including attorney engagements, secondment, staff augmentation, managed review, project management, legal operations, contract management, and regulatory compliance. Leslie Firtell, founder and CEO of Tower Legal Solutions, stated, “The success of our business relies on maintaining relationships with the best talent we can find. By coming together with Avalon, we recognize the power of joining forces with a company that shares our standard for high-quality work and results.” The addition allows Tower to service clients who prefer end-to-end eDiscovery solutions while also catering to those who opt for standalone managed review services.
The addition of Tower Legal Solutions to the Avalon platform serves as a strategic move that not only fills a service gap for Avalon but also offers an expanded suite of services to a diverse client base. Both companies anticipate that this collaboration will spark significant growth and open new avenues for delivering critical services to professional organizations.
Assisted by GAI and LLM Technologies
Additional Reading
- An Abridged Look at the Business of eDiscovery: Mergers, Acquisitions, and Investments
- eDisclosure Systems Buyers Guide – Online Knowledge Base
- A Running List: Top 100+ eDiscovery Providers
Source: ComplexDiscovery