LBR and ALM Announce Strategic Merger
Deal News | Mar 24, 2025 | EagleTree Capital
Law Business Research (LBR) and ALM have announced a merger to create a leading global provider of legal intelligence and networking solutions. LBR, backed by Intermediate Capital Group (ICG) and Levine Leichtman Capital Partners (LLCP), will combine with ALM, which is owned by EagleTree Capital, to form a company uniquely positioned to serve global legal markets. The product offerings will remain unchanged, and together, they aim to capitalize on their mutual strengths to provide greater insights. The merger results in an entity with over 900 employees spread across multiple global cities, including New York and London. Bill Carter, CEO of ALM, will step down, and Nick Brailey, CEO of LBR, will lead the new group as CEO. Additionally, ALM’s Business and Finance division will be carved out and retained by EagleTree Capital. Ropes & Gray, Arma Partners, and Lincoln International advised LBR, while Raymond James and Jones Day advised ALM.
Sectors
- Legal Services
- Private Equity
- Information Services
Geography
- United States – ALM has a strong U.S. presence, and EagleTree Capital is based in New York.
- United Kingdom – LBR is based in the UK, representing its strong presence in the European market.
- Global – The merger creates a global entity with offices and influence spanning multiple continents.
Industry
- Legal Services – The merger enhances global legal intelligence, analysis, and networking capabilities.
- Private Equity – EagleTree Capital, ICG, and LLCP are prominent private equity firms playing crucial roles in the merger.
- Information Services – Both LBR and ALM provide information services crucial to the legal and business sectors.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Law Business Research (LBR) | Target Company | Company | A technology-driven information services business in the global professional services sector. |
| ALM | Target Company | Company | An information and intelligence company supporting legal professionals, owned by EagleTree Capital. |
| EagleTree Capital | Bidding Company | Company | A middle-market private equity firm managing ALM. |
| Intermediate Capital Group (ICG) | Investor | Company | A global alternative asset manager backing LBR. |
| Levine Leichtman Capital Partners (LLCP) | Investor | Company | A middle-market private equity firm backing LBR. |
| Bill Carter | CEO of ALM (Stepping Down) | Person | Outgoing CEO of ALM. |
| Nick Brailey | CEO of LBR (Incoming Group CEO) | Person | CEO of LBR and new Group CEO of the merged entity. |
| Ropes & Gray | Legal Advisor | Company | Advisors to LBR, ICG, and LLCP in the transaction. |
| Arma Partners | Financial Advisor | Company | Advisors to LBR, ICG, and LLCP in the transaction. |
| Lincoln International | Financial Advisor | Company | Advisors to LBR, ICG, and LLCP in the transaction. |
| Raymond James | Financial Advisor | Company | Advisors to ALM and EagleTree on the transaction. |
| Jones Day | Legal Advisor | Company | Advisors to ALM and EagleTree on the transaction. |