Philadelphia, PA – October 7, 2024 – Renovus Capital Partners, a private equity firm strategically located in the Philadelphia area, has announced a significant investment in the legal technology sector with the acquisition of a majority stake in Angeion Group, LLC (“Angeion”), a leading provider of class action case management solutions. This strategic partnership aims to fuel Angeion’s growth and innovation within the rapidly evolving legal services industry.
Angeion Group, also headquartered in Philadelphia, has established itself as a frontrunner in the class action settlement administration space. The company is recognized for its advanced technology platform and deep legal expertise, enabling it to efficiently manage complex and large-scale class action settlements on a global scale. Founder and Chief Executive Officer, Steven Weisbrot, alongside key members of his management team, will retain a substantial ownership stake and will continue to lead Angeion’s strategic direction in collaboration with Renovus. Marks Baughan Securities LLC acted as the exclusive financial advisor to Angeion Group for this transaction.
The investment from Renovus Capital Partners is poised to accelerate Angeion’s strategic initiatives, focusing on expanding its expert teams across management, client service, and delivery. Furthermore, a significant portion of the investment will be directed towards enhancing Angeion’s proprietary technology platform, ensuring it remains at the cutting edge of class action administration solutions. Angeion’s vision includes strengthening its market dominance in the United States and strategically growing its international presence through targeted recruitment, the development of innovative solutions, and synergistic acquisitions.
Founded in 2013 by Steve Weisbrot, Esq., and Christopher Chimicles, Angeion Group was born from a vision to modernize the class action settlement industry. With a team of over 160 professionals, Angeion is committed to delivering exceptional service and pioneering technology solutions in settlement administration, adapting proactively to the dynamic legal services landscape. To date, Angeion’s experienced team has successfully managed over 2,000 class action settlements and facilitated the distribution of over $10 billion to class members, underscoring their significant impact in the industry.
“This partnership with Renovus Capital Partners represents a pivotal moment in Angeion’s journey,” stated Steven Weisbrot, CEO of Angeion Group. “Renovus’s investment is a powerful endorsement of our team’s dedication and the robust company we have built. I am incredibly proud of our achievements and even more enthusiastic about the future growth we will achieve together.”
Lee Minkoff, Managing Director at Renovus Capital Partners, commented, “Angeion stands out as a highly differentiated and rapidly growing leader in the class action services sector. Renovus has a proven history of identifying and supporting unique, tech-enabled legal services companies. We are thrilled to partner with Steve and his leadership team to execute on a shared vision for growth and further solidify Angeion’s market leadership.”
About Angeion Group
Angeion Group is a recognized leader in settlement administration and legal noticing services. Leveraging state-of-the-art technology, established best practices, and expert consulting, Angeion specializes in the intricate management of class actions and other forms of mass litigation. Angeion’s commitment to efficiency, accountability, and excellence provides unparalleled confidence to both legal counsel and the courts they serve.
About Renovus Capital Partners
Renovus Capital Partners, established in 2010 and based in the Philadelphia region, is a lower middle-market private equity firm with over $2 billion in assets under management. Renovus specializes in investments within the Knowledge and Talent industries. The firm’s investment portfolio comprises over 30 U.S.-based businesses across education and workforce development, technology services, healthcare services, and professional services markets. Renovus typically focuses on control buyout investments in founder-owned businesses, utilizing its deep industry knowledge and extensive operator network to drive operational improvements, attract top-tier talent, and pursue strategic add-on acquisitions. For more information, please visit www.renovuscapital.com and follow Renovus Capital Partners on LinkedIn.
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SOURCE Renovus Capital Partners
