Azalea Capital Announces Sale of Modus eDiscovery

GREENVILLE, S.C., April 4, 2023 /PRNewswire/ -- Azalea Capital is pleased to announce that Modus eDiscovery, Inc., a portfolio investment of The Azalea Fund III, L.P., has been acquired by Repario, a portfolio investment of JLL Partners. Modus, headquartered in Cary, NC, provides law firms, corporations, and government entities industry-leading technology solutions encompassing all phases of the litigation lifecycle. Modus is a client-focused, results-driven team of consultants, project managers, data engineers and developers whose combined knowledge of the legal industry and information systems provide an incomparable ability to design tailored solutions for every case.

Steven Horan, CEO, commented that "During our partnership with Azalea Capital, Modus grew from a niche player in the e-Discovery sector into one of the most trusted and dynamic data management businesses with industry leading capabilities. Working with Azalea enabled Modus to build a cohesive team of industry professionals aligned around one goal – to be the partner of choice for companies, law firms, and Federal & State Government Agencies requiring the e-discovery, information governance, and data management services Modus provides. Our new partnership with Repario will enable us to significantly expand our national presence as well as broaden our service offering to our valued clients." The Modus leadership team will remain with the Company.

VRA Partners represented Modus in the transaction.

JLL Partners is a New York City-based private equity firm with significant investment experience in technology-enabled companies focused on the legal services sector.

About Azalea Capital

Azalea Capital is a private investment firm headquartered in Greenville, SC. Azalea partners with entrepreneurs, management teams, and family-owned companies by providing investment capital and operating expertise to enhance the long-term value and growth prospects for each investment. Azalea's primary focus is to invest in companies located in the Southern and Midwest regions of the U.S., which operate in the Agriculture, Food, Pet, and Industrial markets.

For additional information about Azalea Capital and its family of investment funds, please call or visit our website at www.azaleacapital.com.

SOURCE Azalea Capital