BigHand has been acquired from Bridgepoint Development Capital and minority investor LDC by mid-market private equity firm Levine Leichtman Capital Partners. To date Levine Leichtman, which started out in California and has offices in four other states as well as London, Stockholm and The Hague, has made investments in companies primarily in the United States. BigHand, a leader in digital dictation with a growing portfolio of workflow, productivity and profitability software, is headquartered in London with over 3,500 clients and 600,000 users worldwide.
Since BDC’s initial investment, BigHand points out that it has transitioned to being a multi-product company, more than doubled employee headcount, completed six successful acquisitions and seen significant revenue growth across the UK, North America and APAC regions.
BigHand says that under Levine Leichtman it plans to accelerate its growth further, in particular transforming into a full workflow business (where its solution BigHand Now, for example, has been selected by the likes of DLA Piper) and establishing a wider customer base throughout North America.
Sam Toulson, CEO of BigHand commented: “Our new partnership with LLCP will allow us to continue to deliver market leading products all designed to help our customers continue to evolve their business models in line with the ever-changing legal landscape. Our clients are at the heart of everything we do. LLCP recognized that our client-led innovation approach has enabled us to build solutions that are bringing significant value to our customers and were excited by our product strategy to enhance this further. This is definitely the start of a next chapter for BigHand.”
Financial details of the transaction were not disclosed.