Quadrant Private Equity invests in LegalVision

Quadrant Private Equity has struck a partnership with LegalVision, backing the firm's ability to scale its subscription-based legal model across key markets.

The $9 billion private equity firm's capital injection will be used to increase funding for LegalVision's team, technology, and product.

The partnership will also give Quadrant board representation at LegalVision, with its managing partner Marcus Darville and investment director Peter Elkhouri set to join.

Elkhouri said Quadrant had been watching LegalVision for some time, drawn to the way its been disrupting the "large and fragmented" B2B legal services industry.

He noted the firm now has over 4500 clients and is growing at 30% per annum.

LegalVision chief executive Lachlan McKnight said partnering with Quadrant represents an important milestone in the firm's journey.

"Quadrant is the ideal partner to ensure LegalVision is well-positioned to be a driving force in the legal sector. Looking ahead, this new chapter will allow us to enhance our offering and ensure that our clients continue to enjoy a market-leading experience," he said.

Elkhouri added that the partnership will help LegalVision drive growth and awareness of its differentiated offering across Australia, New Zealand and the UK.

LegalVision was advised by Gilbert + Tobin and Allier Capital.

However, the transaction is still waiting on regulatory sign-off.

Financial Standard sought comment from LegalVision on the terms of Quadrant's investment, including the size of the stake, and for additional details on how its capital will be deployed.

LegalVision had not responded at time of publishing.