Challenge
A private equity firm with hundreds of active investments relies on Axiom lawyers for contracts and compliance support. As one of their PortCo’s struggles to combat attrition and keep up with growth, the PE firm evaluates how they can get their PortCo the legal support it needs.
Approach
The PE firm introduces the PortCo’s General Counsel and CFO to Axiom. The PortCo swiftly onboards an Axiom lawyer– a former GC who had been supporting the PE firm with commercial overflow for years– to plug a headcount gap for a recently attrited team member. The Axiom lawyer negotiates around 40 new contracts a month with SaaS and professional services firms. He also assists the ~100 sellers at the PortCo with sales agreements and MSA negotiations. After 5 months of interim support, the PortCo finalizes a full-time hire, but brings on a new Axiom attorney to revamp their global privacy program.
Impact
- Referral from parent PE firm provided the PortCo with a proof of concept for how to shape their interim support needs.
- Experienced support from a former General Counsel with 25 years experience enabled client’s procurement and sales team to close deals favorably and accelerate revenue attainment, respectively.
- Based on initial success, PortCo later installed an additional Axiom lawyer to help with Data Protection Agreements and privacy policy updates.
*Cost savings estimates are based on actual Axiom rates compared to equivalent law firm rate averages as listed in Wolters Kluwer’s Real Rate report.
