SOURCE: Verit Advisors

Verit Advisors

March 22, 2017 04:00 ET

Chicago-Based Verit Advisors Completes ESOP Transaction for LOGS Group, LLC

CHICAGO, IL--(Marketwired - March 22, 2017) - Verit Advisors, a Chicago-based investment banking firm, was engaged by LOGS Group, LLC to advise on strategic alternatives and ultimately executed a 100% Employee Stock Ownership Plan (ESOP) transaction. The LOGS Group, LLC, a national provider of law firm practice management solutions, spun off from the LOGS Network and joins ARMA Acquisition, LLC, to form the largest practice management services provider organization in the default legal services marketplace. Gerry Shapiro and David Kreisman, co-founders of the LOGS Network of law firms, established The LOGS Group, LLC in 1996 to centralize the administrative functions of their national law firm and title network. Verit provided expertise in ESOP structuring, valuation and debt placement alternatives, allowing LOGS to evaluate and optimize their objectives.

Scott Brinkley, LOGS Group Chief Executive Officer shared, "the Verit team was instrumental in providing guidance and advice throughout the evolution of our ESOP journey. Executing on a transaction of this nature requires considerable expertise, extensive relationships within the banking and legal marketplace and a good deal of strategic flexibility. The owners, management team and employees were fortunate to have Verit as a partner during this process and we couldn't be more pleased with the results."

John Solimine, founding member and Managing Director of Verit Advisors added, "It was an honor for Verit to be a part of this successful transaction that optimized Gerry and David's long-term objectives. Partnering with the shareholders and management team in evaluating ESOP alternatives allowed us to structure an optimal transaction that preserved the founder's legacy while creating an excellent opportunity for the LOGS employees."

About Verit Advisors LLC

Verit Advisors unites sophisticated investment banking capabilities with a client centric boutique, fluent in ESOPs, debt and equity capital markets, mergers and acquisitions, and valuation services. Integrity, teamwork, service, and innovation are at the heart of the organization, as Verit strives to provide unparalleled advice and custom solutions to its clients. Mary Josephs founded Verit Advisors in 2009. Josephs and her team are considered to be one of the foremost experts in ESOP transactions and middle market strategic alternatives. Verit has offices in Chicago, Minneapolis and Los Angeles.

About The LOGS Group, LLC

The LOGS Group LLC was formed in 1996 for the purpose of providing a centralized practice management operation for the management of all administrative needs for the law firms and title companies within the LOGS Network, owned by Gerry Shapiro and David Kreisman.

About ARMA Acquisition, LLC

ARMA Acquisition was formed in 2014 to build the foundation for a diversified law firm practice management business. The group completed four acquisitions over a two-year period which introduced technology solutions, litigation support services, law firm outsourcing services, and title data solutions, all delivered to the market from a common platform.

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