March 1, 2019 – Stretto, a market-leading bankruptcy-technology firm serving the corporate-restructuring and consumer-bankruptcy industries, has acquired CINgroup® and its Best Case® Bankruptcy/CINcompass® software and data-services platforms.
In a press release announcing the acquisition, Stretto commented, “CINgroup, including Best Case Bankruptcy, CINcompass and CIN Legal Data Services®, represent the leading brands in bankruptcy. Serving more than 15,000 law firms and their clients for more than 25 years…This acquisition complements Stretto’s portfolio of bankruptcy-related services and technology solutions with the addition of software and data resources designed to support legal professionals engaged in bankruptcy matters."
Jonathan Carson, co-CEO of Stretto, commented, “At Stretto, we are focused on driving new efficiencies in case administration as well as developing and managing a technology platform at the center of the bankruptcy ecosystem. The acquisition of CINgroup perfectly aligns with our strategic vision, as it broadens our resources and capabilities in and around the bankruptcy industry, enabling us to create the only end-to-end bankruptcy-technology platform in the market.”
Dave Danielson, CEO of CINgroup, added “At CINgroup, our goal is to provide innovative software and due diligence products for the bankruptcy market. By integrating with Stretto, we will be able to deliver an even greater suite of products, services and efficiencies for attorneys and other legal professionals.”
Equity financing for the transaction was provided by Carson, co-CEO Eric Kurtzman, other members of Stretto’s management team and investment funds managed by Stone Point Capital LLC. This is Kurtzman and Carson’s second recent partnership with Stone Point Capital. The pair, who sold Kurtzman Carson Consultants LLC (KCC) to Computershare in 2009, partnered with Stone Point Capital LLC in acquiring Stretto (formerly, Bankruptcy Management Solutions (BMS) until a January 2019 rebranding) in 2017.
Terms of the CINgroup acquisition were not disclosed.
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