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Two Firms Lead Warburg Buy of Clearlake’s NetDocuments Stake

May 27, 2021, 10:55 AM

Sidley Austin said it helped Clearlake Capital Group sell a stake in NetDocuments, a secure cloud platform for legal companies, to another private equity firm, Warburg Pincus.

Warburg Pincus said it got advice from Kirkland & Ellis for its investment, alongside existing investor Cove Hill LP. Terms of the transaction were not disclosed.

NetDocuments said it is using the investment for innovation and growth. CEO Josh Baxter and the current management team will continue to lead the company, according to a statement.

“NetDocuments effectively serves as the platform of productivity for the legal community,” said Andrew Park, Warburg Pincus managing director. “The company’s strong track record, paired with a talented leadership team, has positioned it well for the accelerating shift to cloud.”

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com

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