Lazard Middle Market Advised Kurtzman Carson Consultants
in its Sale to Computershare
TRANSACTION DESCRIPTION
Lazard Middle Market advised Kurtzman Carson Consultants (KCC) in its sale to Computershare Limited. KCC is a leading claims and noticing agent providing administrative-support services and technology solutions to companies undergoing corporate restructuring.
TRANSACTION HIGHLIGHTS
Kurtzman Carson Consultants (KCC), a leading claims and noticing agent serving companies undergoing Chapter 11 restructuring, has been acquired by Computershare Limited (ASX:CPU), a global provider of transfer agency, employee equity plans, proxy solicitation and other specialized financial, governance and stakeholder communication services. As a wholly-owned subsidiary of Computershare, KCC will continue to serve clients as the market leader for claims and noticing services.
"This marks a significant turning point at KCC. It represents the culmination of our vision to bring higher standards to the claims and noticing market and diversify KCC into a BPO (business process outsourcing) provider to the broader legal and financial services market," said Eric Kurtzman, KCC's Co-Founder and CEO. "Computershare offers significant resources and experience that will enable KCC to maximize its opportunities and provide significant contribution to Computershare for years to come."
KCC's clients will continue to experience exceptional service during the integration process. Computershare enables KCC to offer its clients solutions such as global call center support, expanded document production services, proxy solicitation solutions through Georgeson, and claims administration services for corporate insolvencies in Europe and Asia.
"This acquisition is quite significant for Computershare and the marketplace. KCC's corporate culture, technology-based service offering and unique position in an expanding area of the market offer a strategic complement to our business. Computershare will also realize synergies with the addition of production facilities in Los Angeles and Memphis, and we will further expand our market in such areas as bankruptcy, proxy, class actions and escrow," said Steve Rothbloom, President and CEO of Computershare US.
Jon Orr, who recently served as KCC's CFO, has been promoted to President of the company to ensure a seamless acquisition integration, maximize synergies and identify strategic growth initiatives for the future. Computershare will seat its current US Financial Controller, Gerry Mullins, as KCC's Chief Financial Officer.
"We foresee great harmonies between KCC and Computershare that will fulfill our vision to diversify and create a sustainable, high-growth, high-value business," said Jonathan Carson, KCC's Co-Founder and President. "Today, legal and financial professionals in the corporate-restructuring market expect a higher standard of service, world-class technology and relevant industry expertise from their claims agent because of KCC. We will continue to build upon this model to realize the business's true market potential."
THE SELLER
Kurtzman Carson Consultants LLC (KCC) (www.kccllc.com) is a leading claims and noticing agent providing administrative-support services and technology solutions to companies undergoing corporate restructuring. With offices in Los Angeles, New York and Memphis, KCC has established a reputation for industry expertise, highly responsive client service and industry-leading technologies. Corporate America's industry leaders have relied on KCC for their business-critical data management needs. A pioneer of web-based technology for the legal and financial markets, KCC has been recognized as one of the fastest-growing companies in the United States.
THE BUYER
Computershare (ASX: CPU) (www.computershare.com) is a global leader in transfer agency, employee equity plans, proxy solicitation and other specialized financial and communication services. Many of the world's largest companies employ the company’s innovative solutions to maximize the value of their relationships with investors, employees, customers and members. Computershare has approximately 11,000 employees across the world and serves 17,000 corporations and 100 million shareholders and employee accounts in 17 countries across five continents.
ABOUT LAZARD MIDDLE MARKET
Lazard Middle Market LLC (www.lazardmm.com), a subsidiary of Lazard Ltd (NYSE:LAZ), provides advice on strategic planning and M&A, private placements, capital raising, and restructurings to the middle market. Lazard Middle Market’s investment bankers operate with full access to the industry expertise, senior board-level relationships, and local perspectives of Lazard’s bankers in 39 cities across 24 countries in North America, Europe, Asia, Australia, Central and South America.
If you would like more information about this transaction, please contact:
