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Frontenac and Graham Partner to Form Encore Legal
Solutions and Acquire Lex Solutio and Additional Add-on Acquisitions
SANTA MONICA, CA (December 3, 2003) - Pinnacle
CEO Recruiters, an executive search firm focused exclusively on recruiting
business services CEOs for private equity groups, announced today the
recruitment of CEO Lynn Graham for Frontenac Company LLC. Frontenac is a
Chicago-based private equity group with more than $1.2 billion in capital under
management focused on business services investments.
Frontenac and Graham have partnered to form Encore Legal Solutions (www.encorelegal.com),
which Graham will head as CEO, and have acquired Lex Solutio, Partners Legal
Copy Services, Global Legal Copy and Litigation Document Services, which
combined will have revenue nearing $30 million. Encore will provide a range of
information management services to legal firms and legal departments of Fortune
1000 companies, including electronic data discovery services; on-line document
repository services; document scanning, coding and editing services; trial
graphics and multimedia presentation services; and document preparation and
reprographics services.
As part of the placement of Graham, Pinnacle’s affiliated private equity fund,
Pinnacle Equity Capital I, L.P., (www.pinnacleec.com) made a co-investment in
Encore with Frontenac. Encore has received a $50 million equity commitment from
Frontenac and a group of co-investors including Baird Capital Partners and
Primus Venture Partners.
Previously, Graham was the CEO of IKON Document Services, a provider of
information management services and legal support services. Graham grew IKON
from $80 million in revenue to $850 million in revenue, with 15% operating
margins, through a combination of internal growth of over 35% per year and
add-on acquisitions of over 20 companies.
Frontenac Principal Troy Noard, commenting on Pinnacle's ability to bring in
CEOs of Lynn Graham's caliber for their CEO sponsorship program, said "Pinnacle
is an outstanding partner for us. Pinnacle truly understands the value of
management-driven investing and has introduced us to a number of talented CEOs
in the industry categories we know best ."
About Pinnacle CEO Recruiters, Inc.
Pinnacle CEO Recruiters is an executive search firm focused exclusively on
recruiting proven business services CEOs for private equity groups with
executive sponsorship programs, where private equity groups partner with a CEO
first, and then work with a CEO to acquire a company. Pinnacle is the only
U.S.-based executive search firm focused exclusively on the business services
sector and on the CEO level. In order to achieve an alignment of interests with
its clients and to participate in the value creation that top business services
CEOs generate, Pinnacle’s private equity fund, Pinnacle Equity Capital,
co-invests in companies it places CEOs in.
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