HBR Consulting (HBR), a leading legal industry strategy, operations and technology consulting firm, has been acquired by private equity firm Renovus Capital (Renovus). The press release describes Renvous as a strategic capital partner. The agreement was effective November 10, 2022.
Renovus specializes in the knowledge and talent industries, with recent investments in the legal services space. They previously invested in LAC Group which like HBR offered consulting and management of library/information services. “The legal industry remains in the early stages of digital and operational transformation,” said Renovus founding partner Jesse Serventi. “As we scanned the legal marketplace as part of our investments in LAC Group and Wilson Allen, HBR routinely came up as a firm at the cutting-edge of this movement.”
Here is an excerpt from a message they are sending to customers:
The agreement will separate HBR’s traditional advisory and IT managed services businesses into two separate entities.
Matt Sunderman will assume the role of CEO of HBR Consulting. HBR Consulting co-founders Christopher Petrini-Poli and Nicholas Quil will co-lead the IT Managed Services, and Keno Kozie businesses. Chris and Nick will also serve in an advisory role for HBR Consulting.
While you may see minor, “back office” changes in the coming months, there will not be an interruption in the quality of service you’ve come to expect from us. Over time, we anticipate our services and levels of support to become deeper and more robust as we place a renewed focus on growing each business in response to increasingly complex market dynamics and the resulting evolving needs of our clients.
While this is a formal separation of the entities, we will continue to collaborate in the market as appropriate for clients.
While Chris and Nick will be leading the newly formed IT managed service business, they will continue to serve HBR Consulting as advisors to the new organization’s board and will remain invested in the clients they have historically served.
Here is a link to the full press release.