Extract from Ranjani R’s article “CVC strikes debut India control deal with VC-backed UnitedLex”
Private equity firm CVC Capital Partners will pick up a majority stake in enterprise legal services firm UnitedLex BPO Pvt. Ltd in its first India deal.
The senior leadership of the venture capital-backed legal services firm will also re-invest in the company as part of the transaction, CVC said in a statement. The deal is subject to regulatory approvals.
“UnitedLex has a multi-billion-dollar opportunity ahead of it, with legal services being one the few remaining verticals that is early in the penetration curve of technology, consulting, and solution delivery,” said Siddharth Patel, senior managing director at CVC.