Kirkland & Ellis advised Francisco Partners on the private equity firm’s investment in Paradigm, a provider of practice management software and integrated payments to the legal industry.
Kirkland also advised Alpine Investors, the private equity firm whose portfolio-company, software platform ASG, launched Paradigm in 2006. Kirkland also advised Paradigm, according to a statement.
No financial details were disclosed for the transaction, expected to close in the fourth quarter.
Paradigm said demand is growing for its cloud-based products, with 11,000 law firms currently using PracticePanther, Bill4Time, and MerusCase. The company, which has offices in New York, Miami, Seattle, and Oakland, also recently introduced an electronic legal payment product, Headnote.
Paradigm said Francisco Partners’ investment will help with momentum, product innovation and growth.
“We believe Paradigm’s powerful, cloud-native suite for the legal sector positions it very well for long-term growth as a leader in the legal technology landscape,” said Peter Christodoulo, partner at Francisco Partners.