Recalibrate Your Legal Spend
April 15, 2020
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Elena Donio will stay on as CEO as Permira becomes the legal staffing behemoth's biggest stakeholder. Permira, the European private equity firm known for its investments in professional services businesses, has made a “significant” investment in legal staffing and services provider Axiom and will be the majority owner of the company, according to Axiom senior vice president David Pierce.
Axiom, one of the world’s largest alternative legal services providers, said today that it has entered into an agreement with private equity firm Permira by which a company backed by Permira funds will take a significant investment in Axiom.
In what must be assumed to be a u-turn on its plans to float, Axiom today (5 September) announced that it has taken a “significant investment” from Permira, albeit the sum is as yet undisclosed. The Axiom management team, led by CEO Elena Donio, will continue in their current roles. You will recall that Permira is already active in the legal tech sector having taken a controlling stake in LegalZoom in 2014.