Having entered the legal technology space in July this year, Pennsylvania-headquartered private equity firm Renovus Capital has acquired HBR Consulting’s advisory business, which has spun off and now operates as a separate entity from HBR’s IT, managed services and Keno Kozie businesses. The spin off business will adopt the HBR Consulting brand.
In July, we revealed exclusively that legal technology services consultancy Wilson Allen had merged with outsourced research and intelligence provider LAC Group, in a private equity driven and backed deal that saw Renovus Capital enter the legal services market for the first time.
At the time of that announcement, Renovus said that it was already planning further acquisitions.
Matt Sunderman, the current president of HBR’s Advisory business, will assume the role of HBR Consulting chief executive officer. Sunderman will work alongside Kevin Clem (chief commercial officer), Lauren Chung (chief practice officer and strategy & operations practice leader), and Chris Ryan (executive vice president of client development), as the new HBR Consulting executive leadership team.
HBR co-founders Christopher Petrini-Poli and Nicholas Quil will transition to focus on the IT, managed services and Keno Kozie businesses, serving as executive chairman and CEO, respectively. That part of the businesses will initiate a review of their go-forward branding in the coming months.
“The legal industry remains in the early stages of digital and operational transformation,” said Renovus founding partner Jesse Serventi. “As we scanned the legal marketplace as part of our investments in LAC Group and Wilson Allen, HBR routinely came up as a firm at the cutting-edge of this movement.”
“We’re looking forward to this next phase of our journey, which builds on our tremendous growth and further enables us to support the legal industry’s advancement,” said Sunderman. “Law firms and law departments are at a crossroads, facing a complex competitive environment, rapidly evolving talent landscape and emerging operational challenges. This growth investment will propel the HBR Consulting business forward to meet the industry’s increasingly pronounced strategic and operational needs.”