Reed Smith represented Leeds Equity Partners and portfolio company Exterro on acquisition of Zapproved

Reed Smith represented Leeds Equity Partners and portfolio company Exterro on acquisition of Zapproved

Reed Smith, a global law firm, announced that it has advised Leeds Equity Partners and its portfolio company, Exterro, in Exterro's acquisition of Zapproved. Exterro and Zapproved are companies that provide eDiscovery, legal governance, risk, and compliance software.

Exterro, a provider of Legal Governance, Risk, and Compliance (GRC) software, has acquired Zapproved, a leading provider of e-discovery software.

The acquisition is part of Exterro's mission to help customers effectively manage their legal governance, risk, and compliance obligations. The acquisition is a significant step for Exterro and its partnership with Leeds Equity Partners, which acquired the company in 2018 and recapitalised it in 2022. Upon closing, Vista Equity Partners will have a minority stake in the combined company. The financial details of the transaction were not disclosed.

Leeds Equity Partners is a sector-focused private equity firm dedicated to the education, training, software, and information services industries. Reed Smith also previously represented Leeds Equity Partners in its 2018 majority investment in Exterro.

The Reed Smith team advising Leeds Equity Partners and Exterro was led by private equity partners Mark Pedretti and Wayne Uffleman and also included: debt finance partner Ben Brimeyer; tax partners James Tandler and Simon Kliegman; tech and data partner Anthony Diana; antitrust partner Michelle Mantine; and corporate associates Sarah Salvia and Brent McDonough.