on Spectrum Equity
Spectrum Equity Announces Sale of Expert Institute
Spectrum Equity has announced the sale of its portfolio company, Expert Institute, to Levine Leichtman Capital Partners (LLCP). Expert Institute is known for its outsourced legal services to the attorney market.
Mike Farrell, Spectrum Managing Director, led Spectrum's 2017 investment in Expert Institute. He commended the company for its growth and development into an industry-leading intelligence platform for the legal community.
Since 2017, Expert Institute has nearly quintupled its revenue and invested significantly in its core product. A major milestone was the 2020 release of Expert iQ, a platform for managing expert witness casework and communications.
Expert Institute CEO Michael Talve expressed gratitude for the partnership with Spectrum, acknowledging their role in the company's expansion. Farrell echoed this sentiment, appreciating the team's efforts and anticipating future innovations.
Advisors for the sale included Aeris Partners and Cooley LLP for Expert Institute, and Honigman LLP and Robert W. Baird & Co. for LLCP.
R. E.
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