Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has sold its portfolio company BL Rankings, LLC (“Best Lawyers” or the “Company”) to Abry Partners. Financial terms of the transaction were not disclosed.
Best Lawyers is a leading provider of ranking and marketing services to the global legal community. The Company generates proprietary, peer-reviewed rankings of lawyers and law firms across various practice areas, which reach a readership audience of over 19 million people annually. As a supplier of critical marketing tools for its customers, the Company offers a suite of digital and non-digital products to its diverse global customer base. Best Lawyers was founded in 1981 and is headquartered in Augusta, Georgia.
Tannaz Chapman, Managing Director of LLCP, said, “Phillip Greer and the entire Best Lawyers team have built an exceptional business through their strategic focus on providing credible and unbiased peer-reviewed legal rankings for lawyers and law firms around the world. Since our initial investment in 2018, the Company has made significant investments in management, sales & marketing, and new product development that enabled the business to expand its offerings and substantially accelerate growth, both in the U.S. and internationally. Best Lawyers has a great future and we wish the team continued success.”
Phillip Greer, CEO of Best Lawyers, commented, “It has been a pleasure partnering with LLCP over this period of tremendous growth for Best Lawyers. Their support, management-centric approach, and strategic insights contributed greatly to the development and expansion of the business.”
The sale of Best Lawyers is LLCP’s ninth recent successful exit, following Caring Brands, FlexXray, Trinity Consultants, Nothing Bundt Cakes, ZorgDomein, Jonathan Engineered Solutions, Futurewhiz and Pacific Handy Cutter.
Citizens Capital Markets, Inc. served as financial advisor to Best Lawyers, and Honigman LLP served as legal counsel in connection with the sale.