Counsel Press Acquired by Gladstone Investment Corporation
The Dolan Company, a diversified business information and professional services provider, sought to divest Counsel Press, a non-core operating business. Since 1938, Counsel Press has assisted attorneys in all 50 states with expert assistance in preparing, filing, and serving appeals in state and federal appellate courts nationwide and several international tribunals through its experienced staff of attorneys, appellate consultants, and appellate paralegals. Counsel Press’ operations include fully staffed offices in 12 locations nationwide and production centers in 6 locations.
The Dolan Company, majority owned by investment funds affiliated with Bayside Capital, Inc., embarked on a revitalization plan in the summer of 2014. Dolan sought to divest non-core business units, including Counsel Press, in an effort to focus on and invest behind core service offerings. “G2 guided the process from start to finish and allowed us to focus on our core businesses while still successfully completing the sale of the Counsel Press business,” said Mark McEachen, CEO of the Dolan Company.
G2 Capital Advisors was engaged by The Dolan Company to run a targeted, highly involved sales process to a select set of strategic and financial buyers. G2 worked closely with Counsel Press’ existing management team, the Dolan Company, and prospective buyers to structure and execute the carve out transaction in an efficient and expedited manner.
The transaction was successfully consummated through a sale to Gladstone Investment Corporation (NASDAQ: GAIN), a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States. “G2 ran a well-organized, high-touch process that resulted in a very successful outcome which exceeded our expectations,” said Jackson Craig, Managing Director of Bayside Capital, Inc. The aggregate Gladstone investment totaled $32.5 million in a combination of equity and debt.
“We are thrilled with the successful completion of the transaction for our client at Dolan and Bayside,” said Jeffrey Unger, CEO of G2 Capital Advisors. “The operational perspective that G2 brings to our mandates continues to be a critical driver of our clients’ success.”