Renovus Capital Partners, a private equity firm based in Philadelphia, announced that it has acquired a majority stake in class action case management solutions provider Angeion Group. Angeion founder and CEO Steven Weisbrot and senior members of the management team have maintained a significant ownership stake in the company and will continue to drive the platform’s growth in partnership with Renovus.
Angeion is the leading innovator in the class action settlement industry. And as a global provider of notice and claims administration services, the company has built a technology platform that enables its legal experts to manage the largest and most complex class action settlements.
Renovus’ partnership will enable Angeion to accelerate the buildout of its management, client service, and delivery teams and increase investment in its proprietary class action technology solutions. And Angeion plans to grow its leadership position in the US market and continue developing its international business through key hires, new solutions, and strategic acquisitions.
Angeion was launched in 2013 by Steve Weisbrot, Esq. and Christopher Chimicles with a mission to modernize the class action settlements industry. And with over 160 team members, the company offers innovative technology solutions in settlement administration, adapting to the constantly evolving legal services ecosystem. Its team has managed over 2,000 class action settlements and distributed over $10 billion to class members.
Marks Baughan worked as the exclusive financial advisor to Angeion Group.
KEY QUOTES:
“This partnership marks a major milestone in Angeion’s growth journey. The investment from Renovus is a testament to the dynamic team that has propelled Angeion into the great company that it is today and that will continue to drive its growth into the future. I am extremely proud of what we have accomplished, and I am even more energized for the years ahead.”
-Angeion founder and CEO Steven Weisbrot
“Angeion is one of the most differentiated and fastest growing players in class action services. Renovus has a track record of identifying unique tech-enabled legal services companies, aligning with management on a growth thesis, and making investments to execute that thesis. This is the exact opportunity we have with Angeion, and we could not be more excited to partner with Steve and the management team.”
-Renovus Managing Director Lee Minkoff
