Lexitas Divests Registered Agent Division to Wolters Kluwer for $415 Million
Deal News | Feb 07, 2025 | Apax (Ignore, Duplicate)
Lexitas, a prominent provider of technology-enabled legal services and a portfolio company of Apax Partners LLP, has announced the divestment of its registered agent and corporate services division, Registered Agent Solutions Inc. (RASi), to Wolters Kluwer Financial & Corporate Compliance for about $415 million in cash. This acquisition, expected to complete soon after regulatory reviews, marks a significant transition for RASi, promising its clients enhanced access to innovative tools and expanded product offerings. This divestment also allows Lexitas to concentrate more intensely on building its national legal support services while reinforcing its commitment to deliver high-quality, technology-centric services to law firms, insurance companies, and corporations. Wolters Kluwer, a global leader in information solutions, anticipates integrating RASi's offerings to bolster its corporate compliance services. With this acquisition, both companies aim to provide a differentiated customer experience for the small and medium business segment.
Sectors
- Legal Services Technology
- Corporate Compliance
- Private Equity
Geography
- United States – Lexitas and RASi primarily operate and serve clients across the United States.
- Netherlands – Wolters Kluwer is headquartered in Alphen aan den Rijn, Netherlands, indicating the company's main geographical base despite its global operations.
Industry
- Legal Services Technology – Lexitas specializes in providing technology-enabled legal services, which is central to their business model and recent growth.
- Corporate Compliance – Wolters Kluwer Financial & Corporate Compliance's involvement underscores the corporate compliance industry's relevance to this transaction.
- Private Equity – Apax Partners LLP is a private equity firm with a portfolio company involved in this deal, highlighting its role in this industry.
Financials
- $415 million – The purchase price for which Wolters Kluwer is acquiring RASi from Lexitas.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lexitas | Seller | Company | A technology-enabled legal services provider and Apax Partners LLP portfolio company. |
| Registered Agent Solutions Inc. (RASi) | Target | Company | Division of Lexitas providing registered agent and corporate services. |
| Wolters Kluwer Financial & Corporate Compliance | Buyer | Company | A division of Wolters Kluwer specializing in corporate compliance services. |
| Apax Partners LLP | Private Equity Firm | Company | A global private equity advisory firm managing funds with Lexitas as a portfolio company. |