HaystackID® Acquires Business Intelligence Associates, Marking Its Fifth Investment in Four Years
WASHINGTON and NEW YORK – September 7, 2022 – HaystackID, a specialized eDiscovery services firm supporting law firms and corporate legal departments, today announced it has acquired Business Intelligence Associates (BIA), an end-to-end eDiscovery service provider, as part of a deal facilitated by majority investor and leading middle-market private equity firm, Quad-C Management, Inc.
“BIA is a leader in eDiscovery, and this combination further expands our capabilities in the support and delivery of complex enterprise discovery solutions, especially in New York,” said HaystackID CEO Hal Brooks. “This deal follows a period of organizational alignment and internal investment around innovation, technology, and advisory services and builds on several years of investment and growth. All of these internal and external investments position us well for additional future international growth across all of our business lines.”
The BIA acquisition is HaystackID’s fifth major investment event since April 2018, when it acquired Envision Discovery, an eDiscovery managed services provider, and Inspired Review, a managed review and remote review services provider. In January 2019, HaystackID acquired eTERA Consulting, an eDiscovery managed services provider. Additionally, in February 2020, HaystackID completed a strategic recapitalization with Quad-C to support the continued growth and expansion of the company, before acquiring NightOwl Global in August 2020. With the BIA addition, HaystackID strengthens its position for continued growth in cyber discovery/incident response, privacy/compliance, information governance, and enterprise managed solutions.
“Our corporate clients will benefit greatly from the significant increase in the support and services we will be able to offer,” said BIA CEO Brian Schrader, Esq., who has joined HaystackID and will continue to lead BIA efforts. “Our team worked tirelessly to reach this milestone, and we are honored to join forces with what is fast becoming one of the preeminent service providers in the world.”
“This acquisition is yet another step in building the framework for the international capability and success of HaystackID, one of our leading portfolio companies,” said Quad-C partner Tim Billings. “We are excited to continue to partner with the company as we develop the next stage of growth with additional investments in infrastructure, people, and acquisitions both in the U.S. and abroad.”
In addition to external investments, HaystackID has significantly expanded and aligned its service offerings in the past six months, launching its innovative discovery management platform HaystackID Core™ in March 2022 and its Global Advisory practice earlier this month.
BIA was represented in the transaction by Brock Matthias of VRA Partners.
HaystackID is a specialized eDiscovery services firm that helps corporations and law firms securely find, understand, and learn from data when facing complex, data-intensive investigations and litigation. HaystackID mobilizes industry-leading cyber discovery services, enterprise solutions, and legal discovery offerings to serve more than 500 of the world’s leading corporations and law firms in North America and Europe. Serving nearly half of the Fortune 100, HaystackID is an alternative cyber and legal services provider that combines expertise and technical excellence with a culture of white-glove customer service. In addition to consistently being ranked by Chambers USA, the company was recently named a worldwide leader in eDiscovery Services by IDC MarketScape, a representative vendor in the Gartner Market Guide for E-Discovery Solutions, and a Legal Technology Trailblazer by The National Law Journal. Further, HaystackID has achieved SOC 2 Type II attestation in the five trust service areas of security, availability, processing integrity, confidentiality, and privacy. For more information about its suite of services, including programs and solutions for unique legal enterprise needs, go to HaystackID.com.
As an industry pioneer, BIA continues to set the standard for reliable, innovative, and cost-effective eDiscovery services. Its customer-first focus has resulted in countless innovations copied widely across the industry today. From technical innovations like truly remote data collections and the first cloud-based, end-to-end eDiscovery platform to service revolutions like reusing data and coding across matters and hiring dedicated, full-time employees for document review, BIA consistently stands at the leading edge of the industry. Founded by legal and technology professionals, BIA provides the entire spectrum of eDiscovery services – including attorney document review – with minimal disruption to its clients’ daily business operations. To learn more, visit BIA at biaprotect.com or on Twitter at @biaprotect.
Founded in 1989 and headquartered in Charlottesville, Va., Quad-C is a middle market private equity firm focused on investing in well-established business and consumer services, healthcare, industrials specialty distribution, and transportation/logistics companies. In its nearly three-decade history, Quad-C has invested over $3 billion of capital in more than 65 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. Learn more about Quad-C at QuadCManagement.com.
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Additional Reading: Acquisition of Business Intelligence Associates: A Backgrounder