Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to CosmoLex, a cloud-based legal practice management software company, in its acquisition by Tabs3 Software, a portfolio company of Thompson Street Capital Partners.
Founded in 2012, CosmoLex is a leading provider of integrated cloud-based billing, accounting, and practice management solutions for law firms. Tabs3, a desktop legal practice management platform, acquired CosmoLex to offer a complete suite of billing, financial and practice management solutions for solo and mid-sized law firms, and to access a broader base of clients.
Regarding the transaction, Rick Kabra, Founder and CEO of CosmoLex stated, “We really enjoyed working with the Cascadia team and are very excited about the partnership with Tabs3. When we decided to pursue a transaction, Cascadia was our first choice – not only had they worked with Tabs3 before, but they have unmatched M&A experience in the Legal Tech sector.”
Paul Vander Vort, Managing Director, Cascadia Capital, added, “This transaction resulted in a great outcome for both sides – a true win, win. Rick and his team have built a very impressive offering with CosmoLex and by combining with Tabs3, they are extremely well positioned in the market.”
The acquisition represents Cascadia Capital’s third successful transaction within the Legal Technology sector over the last 18 months. Previously, Cascadia advised Tabs3 Software on its recapitalization by Thompson Street Partners and Amicus Attorney on its combination with AbacusNext.