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Knox Capital Announces Investment in HaystackID

Latest recapitalization marks third transaction since firm’s formation.

November 01, 2017

Chicago, IL - Knox Capital Holdings, LLC (“Knox Capital” or “Knox”), a private investment firm for middle-market founder-and-family-owned companies, today announced its latest investment with the successful recapitalization of HAYSTACKID LLC (“Haystack” or “The Company”).

Haystack is a leading international end-to-end eDiscovery and forensics services provider for businesses and their counsel. Founded in 2011, Haystack works with clients to collaboratively lower overall spend and minimize risk, all while improving efficiency. The Company is headquartered in Boston with offices throughout North America and Europe.

“Many clients value agility, responsiveness and service levels that giant providers—most of whom have grown by acquisition—are not able to provide. We are poised to be their best option, now and in the future,” said Haystack President and Chief Executive Officer Kevin Glass. “Our partnership with Knox Capital gives Haystack access to additional funds to make strategic acquisitions and accelerate growth. I look forward to working with our board of directors and investors to identify new growth opportunities.”

“This recapitalization allows Haystack to continue its impressive organic growth and continue scaling to serve its clients as an independent company. With three investments thus far, we’ve put our thesis to work. Our team will continue seeking out companies with fundamental value in need of operating and capital resources to accelerate growth without burdensome investment timelines.” – Knox Capital Founder and Partner, Alex Gregor

“Haystack’s history in forensics, data preservation and analysis is the basis for the company’s data-driven approach to everything it does,” said Knox Capital’s Operating Advisor Mike Bryant. “Its well-deserved reputation for having the most technical, data-savvy professionals in the industry is a key point of differentiation.”

Haystack marks the third transaction for Knox Capital, which was founded on the belief that growing middle-market founder-and-family-owned companies need experienced, hands-on operating and capital resources supported by flexible investment horizons. Knox Capital boasts an extensive executive and operating advisor network, and works with some of the largest family offices and endowments in the country to make tailored investments across a variety of industries.

Knox partnered on the investment with private investors and Maranon Capital, who provided mezzanine debt and an equity co-investment. TCF Bank provided senior debt financing.

Haystack joins a growing list of portfolio companies for Knox Capital, including Stancor Inc., a leading manufacturer of electric submersible pumps and controls, and TRS Global, a North American leader in the repair and maintenance of stationary components for heavy industrial gas turbines.

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