Updated: Millnet acquired in management buyout

Updated on 8 February to include a quote from Robb Hern, SVP and divisional leader of enterprise legal services at Consilio 

eDiscovery and managed review provider Consilio has sold UK document and data processing business Millnet to its managing director Steve Chadd. 

Millnet was acquired by Advanced Discovery in 2016, and Advanced Discovery was acquired by Consilio in 2018. Chadd has now acquired the shares in print software DocBuster Limited as well as the trade and assets of the UK Paper division, trading as Millnet Document Services. 

Millnet, which operates from sites in London and Manchester and employs 37 people, currently focuses on hard copy document services. Those include photocopying, scanning and coding, bundle preparation, digital print, hybrid mail and print support. It can fairly be assumed that those services are not core to Consilio’s business.  

Chadd said in a note to clients: “When the opportunity arose to take on the Millnet Business, which is steeped in so many memories, and has played a part in so many people’s journeys in so many industries, it was one that I and the team could not miss out on. I am honoured to move the business forward, providing all of our classic service offerings, as well as some of our lesser-known services that can be found on our website or by getting some time in the diary with a member of the team.” 

He told Legal IT Insider: “It’s business as usual but this acquisition enables us to be more expansive, agile, and strategic in how we support our clients.”

Robb Hern, SVP and divisional leader of enterprise legal services at Consilio told us in a statement: “We are happy to support the sale of Millnet, our UK Paper business, back to our former employees. This will enable them to continue investing in their business and support this segment of the legal market. We will continue to partner with the Millnet team as a delivery arm, ensuring our shared clients continue to receive exceptional service.”

Price Bailey’s strategic corporate finance team, led by Stephen Reed, were engaged to advise on the transaction. Reed said: “Millnet is a specialist business combining traditional document management with data solutions driven by rapidly evolving technology, including AI. This deal has secured the future of the business in the UK and positioned it for future growth.”