March 6, 2012: Azalea Capital is pleased to announce the acquisition of Modus, LLC, headquartered in Washington, D.C., an industry-leading provider of electronic discovery services. Azalea also announces the simultaneous merger of Modus, LLC with existing portfolio company Ivize Services, Inc. located in Atlanta, GA. By combining Modus' electronic discovery expertise and Ivize's national presence, the merged company will provide world-class, end-to-end litigation support across the country. Modus and Ivize are positioned to effectively manage the evolving litigation support needs of corporate legal departments and law firms worldwide.
Abtin Buergari, the founder and CEO of Modus, will become CEO of the combined organization. Under the leadership of Rick Hutchinson as COO, Mark Marmon as CFO, and Evan Craghead as CTO, the combined company is poised for rapid growth.
"By combining operations and discovery solutions, Ivize and Modus will become stronger in both client-facing and delivery capabilities, becoming more valuable to all of our existing and new clients," says Abtin Buergari. "Together we can now offer clients the most comprehensive and technologically advanced solutions in the litigation support industry."
According to Mark Marmon, "The merger will create a platform of services focused on cost-efficient processes through cutting-edge technology and unsurpassed service."
Modus and Ivize will employ 200 litigation support professionals in 13 markets around the U.S. Both companies will retain their original names.
About Modus, LLC
Headquartered in Washington, D.C., Modus provides law firms, corporations, and government entities industry-leading technology solutions encompassing all phases of the litigation lifecycle. Founded in 2008, Modus is a client-focused, results-driven team of consultants, project managers, data engineers and developers whose combined knowledge of the legal industry and information systems provide an incomparable ability to design solutions tailored to meet the uniqueness of every case.
About Ivize Services, Inc.
Headquartered in Atlanta, GA, Ivize is a national litigation support and discovery management company. Founded in 1995, Ivize currently operates 10 locations throughout the Midwest and Southeast including a national data center in Kansas City, MO. It services law firms, corporations, and government entities to prepare for and respond to their most critical discovery and litigation needs while committing to the highest defensibility, quality, and cost-efficiency standards.
About Azalea Capital
Azalea Capital is an investment firm with offices in Greenville, SC and Birmingham, AL. Azalea provides strategic equity capital to middle-market companies across the Southeast to facilitate management buyouts, business recapitalizations, and growth plans. Partnering with management teams in scalable, operating companies with established revenues and cash flows, we provide both financial and human capital to significantly enhance the long-term equity value of the underlying business. Typical investment candidates will have minimum annual revenues of $10 million in the focus industries of manufacturing, distribution, business services, consumer products, and healthcare.
Azalea Capital is actively seeking new investment opportunities for its third partnership, The Azalea Fund III, L.P. Other holdings of Azalea include Star Packaging Corp. (Atlanta, GA), KLMK Group, Inc. (Richmond, VA), ETAK Systems, Inc. (Charlotte, NC), and Sunbelt Chemicals Corp. (Palm Coast, FL). For questions or more information about Azalea Capital, please contact Patrick Weston or visit www.azaleacapital.com.