Houlihan Lokey Advises Registered Agent Solutions

Houlihan Lokey is pleased to announce the sale of Registered Agent Solutions, Inc. (RASi) to Lexitas, a portfolio company of Apax Partners (Apax). The transaction closed on October 23, 2020.

Registered Agent Solutions, which will be Lexitas’ seventh acquisition, is a leading middle-market registered-agent service company offering innovative technologies, competitive pricing, and quality corporate services. Founded by Sean Prewitt and Ricardo Orozco in 2002, RASi has grown rapidly, and today the company represents companies and law firms across all 50 states, Washington, D.C., and international jurisdictions. RASi’s subscription model provides a strong revenue trajectory and will add significant value to Lexitas’ existing service offering.

Founded in 1987, Lexitas is a leading national provider of legal support services to law firms, corporations, third-party administrators, and insurance companies. Services include medical record retrieval, court reporting, registered agent, legal staffing, document review, and commercial contracts outsourcing. The acquisition will significantly enhance Lexitas’ service line, offering existing and potential customers access to registered agent representation, a requirement for businesses under U.S. state laws, as well as corporate compliance services, such as annual report filing, on a subscription basis.

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax funds invest in companies across four global sectors of healthcare, tech and telco, services, and consumer. These funds provide long-term equity financing to build and strengthen world-class companies.

In conjunction with the transaction, funds advised by Apax, which acquired Lexitas in 2019, will commit additional capital to Lexitas to fund the acquisition of RASi.

Houlihan Lokey served as RASi’s exclusive financial advisor and assisted in marketing, structuring, and negotiating the transaction on behalf of RASi. This transaction exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the Specialty Consulting and Risk (SC&R) market to deliver an outstanding result to the selling shareholders.


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