Scorching off the presses is information that Francisco Companions, a serious world funding agency that focuses on partnering with expertise companies, introduced plans to accumulate Elite, a authorized expertise firm that focuses on monetary administration and enterprise operations.
It should purchase it from its present house owners, TPG Capital, the U.S. and European personal fairness platform of worldwide various asset administration agency TPG, and Thomson Reuters.
The acquisition will present Elite with a brand new monetary associate to assist the corporate capitalize on its present momentum and proceed to drive product innovation and development, in response to an announcement of the acquisition.
Phrases of the transaction weren’t disclosed.
Based in 1947, Elite has an extended historical past of offering expertise options to the authorized business, with a specific focus over the previous a number of many years on monetary and apply administration techniques for giant and mid-sized legislation corporations.
Its flagship merchandise embody 3E, ProLaw, eBillingHub, and MatterSphere, which assist automate and streamline billing, invoicing, funds, and monetary reporting for lots of the world’s main legislation corporations.
From 2003 till June 2023, Elite was owned by Thomson Reuters. In 2023, a majority stake in Elite was acquired by personal fairness agency TPG for about $500 million, making Elite an impartial firm. Thomson Reuters retained a minority stake and board illustration, whereas Elite continued to keep up integrations with Thomson Reuters merchandise.
Since its spin-out, Elite has sought to resume its deal with innovation, together with a refreshed model and new AI-driven options, and it has continued to broaden its suite of cloud-based options. In January 2025, Elite additional expanded its choices by buying Tranch, a funds and bill automation platform catering to giant legislation corporations.
In response to the announcement, Elite at the moment serves about 2,000 legislation corporations, together with 75% of the Am Regulation 100 and 72% of the World 100.
“With Francisco Companions’ monetary assist and in depth authorized software program and funds experience, we’re assured they’re the appropriate associate to assist us proceed to ship our transformative merchandise to the authorized business,” stated Mark Dorman, CEO of Elite. “Constructing on the success we achieved with TPG, this subsequent section positions Elite to scale quicker, deepen our cloud and AI capabilities, and assist legislation corporations function with larger velocity, perception, and effectivity.”
Peter Christodoulo, associate at Francisco Companions, stated: “Elite’s highly effective, cloud-based platform for giant legislation corporations positions it completely for long-term development.”
The transaction is predicted to be accomplished within the third quarter of 2025, topic to customary closing circumstances.
Francisco Companions has invested in plenty of authorized tech firms over time, together with Aderant, BARBRI, LegalZoom and Paradigm.
