Santa Monica-based private equity firm Clearlake Capital Group partnered with Cove Hill Partners to become a minority investor in NetDocuments, a cloud-based software services platform to manage document and email flow for law firms and compliance departments of big corporations.
Terms of the transaction were not disclosed.
Century City-based office of law firm Sidley Austin represented Clearlake Capital Group in the closing of Cove Hill Partners’s investment in NetDocuments.
More than 2,500 law firms and corporate legal departments use the software of Lehi, Utah-based NetDocuments, which Clearlake Capital initially bought in 2017.
Earlier this month, Clearlake Capital Group agreed to purchase software management firm Dude Solutions from Warburg Pincus, a New York City-based private equity firm.
Dude Solutions provides cloud-based software that manages workflows such as work orders, inventory, energy, capital planning, facility scheduling and community development.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.
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