LBR Merges with ALM to Form Leading Global Legal Intelligence Provider
Deal News | Mar 24, 2025 | EagleTree Capital
Law Business Research (LBR) and ALM have announced their merger, creating a global leader in legal intelligence services. The merger combines ALM's strong US market presence with LBR's global reach, aiming to deliver unparalleled expertise in providing insights, analysis, and data solutions to legal professionals worldwide. The merger retains existing product offerings and aims to leverage combined strengths for enhanced service delivery. The newly formed group will have over 900 employees across multiple international locations. As part of the merger, the Business and Finance division of ALM will be carved out and retained by EagleTree Capital. Bill Carter, President & CEO of ALM, will step down, with LBR's CEO, Nick Brailey, leading the combined company. Various strategic partners provided advisory services for this transaction.
Sectors
- Legal Intelligence
- Private Equity
Geography
- United States – ALM has a deep presence in the US market that will be integrated within the global operations post-merger.
- United Kingdom – LBR brings a strong UK and global presence that will complement ALM's operations.
- Global – The merger creates a company with a global presence, having offices in cities such as New York, London, and Hong Kong.
Industry
- Legal Intelligence – The merged entity of LBR and ALM will provide global legal intelligence, offering insights, analysis, and data for legal professionals.
- Private Equity – Both LBR and ALM are backed by private equity firms, playing a significant role in facilitating the merger.
Financials
- $107 billion – Amount of assets managed by ICG as of 31 December 2024.
- $9.6 billion – Amount of assets currently managed by Levine Leichtman Capital Partners.
- $4.8 billion – Amount of assets managed by EagleTree Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Law Business Research (LBR) | Target Company | Company | A technology-driven information services business providing intelligence and analytics to the global professional services sector. |
| ALM | Bidding Company | Company | A trusted information and intelligence company supporting legal industry professionals globally. |
| EagleTree Capital | Private Equity Firm | Company | Owner of ALM investment funds, based in New York, focusing on middle-market private equity investments. |
| ICG | Private Equity Firm | Company | Backer of LBR, providing flexible capital solutions as a global alternative asset manager. |
| Levine Leichtman Capital Partners (LLCP) | Private Equity Firm | Company | Backer of LBR, a middle-market private equity firm. |
| Bill Carter | Outgoing CEO of ALM | Person | Former President & CEO of ALM, recognized for transforming Law.com into a global leader. |
| Nick Brailey | Incoming CEO of LBR | Person | CEO of LBR, taking leadership of the newly merged company. |
| Stelios Elia | Managing Director, ICG | Person | Managing Director at ICG European Corporate, emphasizing support for high-quality businesses. |
| Anup Bagaria | EagleTree Capital Executive | Person | Executive at EagleTree Capital. |
| Michael Struble | EagleTree Capital Executive | Person | Executive at EagleTree Capital. |
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services to LBR, ICG and LLCP. |
| Arma Partners | Corporate Finance Advisor | Company | Provided corporate finance advisory services to LBR, ICG and LLCP. |
| Lincoln International | Corporate Finance Advisor | Company | Provided corporate finance advisory services to LBR, ICG and LLCP. |
| Raymond James | Corporate Finance Advisor | Company | Provided corporate finance advisory services to ALM and EagleTree. |
| Jones Day | Legal Advisor | Company | Provided legal advisory services to ALM and EagleTree. |