Audax Private Debt (“Audax”) announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support Odyssey Investment Partners (“Odyssey”) acquisition of Magna Legal Services (“Magna” or the “Company”).
Headquartered in Philadelphia, Magna provides litigation support services to over 13,000 law firms, corporations, insurance carriers, and government agencies. The Company provides critical support to its clients throughout the litigation process, including court reporting, translation, videography, records retrieval, jury evaluation and consulting graphic design, and trial presentation services. Magna was founded in 2007 and has established itself as one of the industry’s leading and fastest-growing litigation support providers, with offices across the US serving clients in all 50 states.
Steve Ruby, Co-Head of Origination at Audax Private Debt, said, “We have been long-term supporters of Magna Legal Services and have seen the Company establish itself as a leading provider of litigation services. The Magna team has done a fantastic job building the business by investing in technology and executing strategic acquisitions. We are excited to partner with the Odyssey team to help Magna continue with its impressive pace of expansion.”
“We look forward to partnering with Audax in conjunction with our acquisition of Magna,” said Jeff Moffett, Managing Principal at Odyssey. “Audax has thoughtfully collaborated with us during these past several months, and their familiarity with the business has been critical to successfully structuring and executing a tailored financing solution. Magna is poised for significant growth ahead, and we are confident in Audax’s ability to scale and support our strategic objectives and operate as our partner throughout our investment.”Source: Businesswire