E-Discovery Provider Lighthouse Gets $23M Line of Credit
The financing from CIT will go toward supporting a recapitalization of the company and expansion of Lighthouse's UK operations, the e-discovery company said.CIT Group Communications and Technology Finance announced Aug. 3 it has provided a $23 million senior secured line of credit to Lighthouse eDiscovery, a provider of e-discovery services. The financing will support a recapitalization of the company and expansion of Lighthouse's U.K. operations, the company said. Lighthouse is a portfolio company of New York-based private equity firm Spire Capital. Financing was provided by CIT Bank North America, the principal bank subsidiary of CIT. Terms of the transaction were not disclosed. E-discovery is the process by which electronic data is collected, secured and searched prior to being submitted as evidence in litigation or by governmental request. Lighthouse assists customers in their e-discovery processes by minimizing the amount of digital files required to be reviewed prior to evidence submission. Founded in 1995, Lighthouse eDiscovery is provides e-discovery services in the United States and Europe. Lighthouse guides large corporate enterprise and law firm customers through every aspect of e-discovery, from the simplest projects to the most complex matters.
Founded in 2000, Spire Capital is a private equity firm with an investment focus on lead and control investments in companies within the business services, information services, media, education and communications sectors. The company has managed more than $900 million in private equity commitments since its founding.