Hobs Group’s Anexsys attracts US buyer
August 2020: Anexsys Group Limited, which provides technology and consultancy services for law firms, corporations and the public sector, has been acquired by private-equity-backed Xact Data Discovery (XDD) from the Hobs Group Limited.
As of August 1st 2020, Anexsys Group Limited will legally operate in its current London and Manchester, UK offices under the name of Anexsys as part of the XDD portfolio of brands.
Anexsys was formerly part of the Hobs Group Limited, which will continue operating legal reprographics in London and Manchester. As part of the deal, BGF – the UK’s most active investor – will exit its investment in Anexsys, which it has backed since 2014 as part of Hobs Group. In this period, Anexsys revenues rose from £2.1m (2015) to £7.3m with an EBITDA of £2.1m as (2020) the business established itself as a leader in the UK digital forensics and e-disclosure market.
Ben Barker, head of BGF’s portfolio in the North said: “Rob Crowley and the Anexsys team have a done a brilliant job in growing the business to become one of the main players in e-discovery services with key public sector contracts and a number of the UK’s top law firms as clients. We wish them every success with their new partners. We’re also pleased to continue backing Craig and the Hobs Repro and 3D teams in the next stage of their journey”.
BGF continues to support Hobs Repro and its subsidiary Hobs 3D, which is led by Managing Director Craig Horwood. James Duckenfield has transitioned to a non-executive director role. Peter Bertram was appointed to the board as non-executive chair after being introduced by BGF in 2014 and continues in this role for Hobs Repro.
Commenting on the deal, Peter Bertram said: “We are pleased to announce the sale of Anexsys to XDD which presents a strong opportunity for the company at this stage of its growth. The sale allows the businesses to focus on their respective missions and reflects the distinct operations between the companies and their target markets.
“Following a period of growth and significant M&A, the separate businesses will be in the best position to pursue their growth strategies, amid what continues to be challenging trading conditions for all businesses.”
Advisers for Anexsys:
Corporate finance – Lincoln International. Chris Brooks, Anant Kapoor, Hamzah Shakoor
Legal – DWF Paul Rimmer, Rosie Spencer, Liz Clark
Advisers for BGF:
Legal - Brabners Andrew O’Mahony, Daniel Hayhurst
Financial and commercial due diligence, and tax – RSM Colin Smyth, Rob Aitken, Jake Hodgson
- BGF was set up in 2011 and is backed by the UK’s five major high street banks (Barclays, HSBC, Royal Bank of Scotland, Lloyds & Standard Chartered. BGF has invested more than £2.1bn in over 300 companies, making it the most active investor in the UK.
- BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs.
- BGF invests in growing businesses in the UK and Ireland through its network of 14 offices.
- In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2019, Australia did the same, both based on BGF’s funding model.
Social media: @BGFinvestments
About Xact Data Discovery
Xact Data Discovery is a leading international provider of eDiscovery, data management and managed review services for law firms and corporations. XDD helps clients optimize their eDiscovery matters by orchestrating precision communication between people, processes, technology and data.
XDD services include forensics, eDiscovery processing, Relativity hosting and managed review. XDD has 18 offices throughout the United States and two locations in India. XDD offers exceptional customer service with a commitment to responsive, transparent and timely communication to ensure clients remain informed throughout the entire discovery life cycle.
Xact Data Discovery
Anexsys is a legal technology services consultancy, providing eDiscovery, digital forensics and hardcopy services to law firms, corporations, and government bodies throughout the UK and Europe. Our secure offices hold ISO9001, ISO27001 and Cyber Essential Plus certifications. We are unique in having a custom software development team, who design and implement bespoke software solutions to enhance legal processes. Please contact our nationwide team at firstname.lastname@example.org or visit anexsys.com to find out more.