TPG
Elite, a provider of financial and practice management solutions to law firms, last week announced that it had completed its previously announced acquisition by TPG, a global alternative asset management firm based in Fort Worth and San Francisco.
TPG acquired the business from Thomson Reuters, which has retained a minority interest. In addition to the closing of the transaction, Elite’s board of directors has appointed Mark Dorman as CEO.
“Businesses across industries are increasingly focused on harnessing technology to enhance the way their organizations work as well as the products, solutions, and services they are delivering their customers,” said Dorman in a statement. “Elite is bringing critical tools and capabilities to leading law firms around the world, and we see a significant opportunity to grow the platform as a standalone company with renewed focus and purpose. It’s a privilege to join Elite at this important time in our history.”
Dorman most recently served as the CEO of SThree, a publicly traded specialty recruiting firm focused on STEM industries. Previously, Dorman was with McGraw-Hill Education, where he served as President of the Higher Education division and led the company’s transformation from a legacy book publisher into a digital-first learning science company. Dorman has also held executive roles at Wolters Kluwer, a software and solutions provider to industries including law, health, tax and accounting, ESG, and finance, as well as LexisNexis, a global provider of legal, regulatory, and business information and analytics.
Elite offers a suite of solutions, including 3E, ProLaw, eBillingHub, and MatterSphere, aimed at improving law firm finance and accounting operations, including billing, invoicing, payments, and financial reporting.
“For years, Elite has served as the trusted, digital backbone for its customers,” said Tim Millikin, partner at TPG. “With closing behind us, we are eager to invest behind the company’s offerings and grow its impact as a comprehensive, legal-tech platform built for the modern law firm. Mark is an innovator with decades of experience transforming businesses through technology, making him a great fit to lead the company through its next phase of growth.”