Align Capital Partners has closed a single-asset continuation fund with approximately $405 million in commitments to support the next phase of growth for its tech-enabled legal services platform, Proceed.
The continuation vehicle, CP EV Fund I, LP, provides additional capital to fuel mergers and acquisitions activity and further investment in technology as the company expands its capabilities across the litigation lifecycle. Proceed, which was formed following Align Capital Partners’ acquisition of Counsel Press in October 2023 and subsequent rebranding, has completed twelve add-on acquisitions to date.
The company operates as a nationwide provider of technology-enabled legal services, offering solutions including e-filing, service of process, dispute management and appellate services. It serves more than 12,000 clients and has evolved from a specialized appellate services provider into a broader, multi-dimensional legal services platform.
Align Capital Partners has worked with Proceed’s management team to expand the platform’s offerings and invest in technology designed to support clients across the full dispute lifecycle. The firm said the continuation vehicle will enable further strategic add-on acquisitions while enhancing the company’s core services.
The transaction was supported by co-lead investors Apogem Capital, RCP Advisors and Churchill Asset Management. Robert W. Baird & Co. served as placement agent and lead financial advisor, while Kirkland & Ellis acted as legal advisor to Align Capital Partners and McGuireWoods LLP served as legal counsel to Proceed.
Proceed has achieved significant growth under Align Capital Partners’ ownership, reporting more than 290% revenue growth as it scaled its platform and broadened its service offerings.
KEY QUOTES:
“As our partnership with ACP has evolved, their strategic guidance has become a powerful driver of growth. They have proven to be an exceptional partner, consistently executing on their commitments and adding value beyond expectations. As a result, Proceed has achieved more than 290% revenue growth while evolving from a leader in appellate services into a scaled, technology-enabled legal services platform spanning the entire litigation lifecycle.”
Scott Thompson, CEO of Proceed
“Our partnership with Proceed underscores ACP’s commitment to supporting differentiated platforms built on deep domain expertise with ambitious management teams. We’re grateful for the entire Proceed team’s contributions to date and are excited about the opportunities ahead as activity across the legal services landscape continues to accelerate. We appreciate the strong support from these three investors, whose partnership and additional capital will enable us to build on Proceed’s momentum to date and continue to invest in the Company’s next phase of growth.”
Matt Iodice, Partner at Align Capital Partners; Rob Langley, Managing Partner at Align Capital Partners
