Extract from Press Announcement by HAYSTACKID LLC
New investment from Knox Capital, combined with consistent management, will usher in a new era of prosperity for the respected eDiscovery provider.
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 Haystack, and Knox Capital has pointed to the unique stature the company holds in the marketplace.
Alex Gregor, founder and partner of Knox Capital, added, “Haystack 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.”