Friday, February 14, 2014
Permira Completes $200M LegalZoom Buy
The deal by private equity firm Permira to acquire the majority stake in Glendale-based egalZoom is now complete, according to Permira. Permira said Friday afternoon that it successfully completed its acquisition of more than $200M of the outstanding equity of LegalZoom, giving it a majority stake of the legal document and services company. Permira said it is now LegalZoom's largest shareholder, and will apoint a majority of the company's board. Permira said that prior investors Institutional Venture Partners and Legalzoom's management team have maintained "the vast majority" of their ownership, with Kleiner Perkins Caufield & Byers keeping its entire stake. Polaris Venture Partners now owns a smaller portion of its ownership in the company. LegalZoom and Permira had announced the deal in January.