Business

Investment firm Clearview Capital buys Mission-based Xact Data Discovery

Xact Data works with electronically stored information, providing e-discovery and other services for law firms.
Xact Data works with electronically stored information, providing e-discovery and other services for law firms.

A Connecticut private equity investment firm has bought Mission-based Xact Data Discovery.

The financial terms of the deal with Clearview Capital LLC were not disclosed. A statement from the companies said Xact Data’s founder, Bob Polus, will remain a significant owner and lead the company’s management.

The sale includes an infusion of capital to help Xact Data expand operations and consider acquisitions, said Kathryn Mortensen, director of communications for Xact Data.

Xact Data works with electronically stored information, providing e-discovery and other services for law firms.

About 20 of its 300 employees work in Mission, which includes a production facility. Other operations are in Detroit, New York, Chicago, St. Louis, Dallas, Houston, Atlanta, Minneapolis and Century City, Calif. The company also has facilities in India, which Mortensen said allows operations around the clock.

Xact Data is a competitor of Epiq Systems in Kansas City, Kan.

Clearview Capital’s website said the company invests in midsize businesses with operating profits between $2 million and $30 million. Mortensen said Xact Data fits that range, but she declined to offer a revenue total.

Clearview investments have included Battenfeld Technologies, a hunting and shooting accessories business in Columbia that Smith & Wesson Holding Corp. bought in December for $130.5 million.

To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com. Follow him on Facebook and Twitter at mdkcstar.

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