DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Legal Cost Control, Inc. to Alan Gray LLC. The acquisition closed September 8, 2022.
Legal Cost Control (LCC), located in Haddonfield, New Jersey, is the foremost company in Legal Spend Management & Matter Management services. The Company’s founder, President John J. Marquess, Esq., is universally credited with the creation of legal auditing in the 1980s. LCC personnel performed the country’s first legal bill reviews and audits in 1985, created the first e-Billing process in 1996, and pioneered the first integrated Matter Management system in 2003.
Since 1985, LCC personnel have reviewed over $42 Billion in legal and professional billings, and the Company currently oversees legal bill reviews of millions of dollars of billings for corporate clients throughout the U.S.
During the mid-1990’s, LCC developed one of the world’s first fully-functional “wire-to-wire- web-based, paperless” systems for use by its clients, free of charge. Today, LCC’s core bill review services are supported by its proprietary Simple Invoice Management System (SIMS), a web-based invoice management system capable of processing all forms of legal bills in a unified, electronic format, which LCC then subjects to exhaustive artificial intelligence & subjective analytical review.
SIMS has been continuously maintained, upgraded and refined over the Company’s years in operation, and includes several modules from which clients can choose all or some. Utilizing advanced technologies, data analytics, dashboards and active collaboration, the system allows clients to monitor unlimited metrics simultaneously, allowing instant status of matters/cases and legal bills.
Headquartered in Boston, Massachusetts, Alan Gray (AG) was established in 1988 as a claims and audit advisory firm, and over the years has built a reputation as a cost effective, reliable and trusted resource to those involved in the management of risk. Providing claims, accounting and analytics services, and consulting on risks and exposures from the simple to the most complex. AG places the utmost emphasis on client service and satisfaction. They are an adviser and partner to a client base that includes major insurers and reinsurers, Fortune 500 companies, law firms, MGAs, brokers and captives.
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson and his team led by Managing Director, M&A , Moses Shmueli, with the support of Senior Vice President, M&A, Tristan Keeffe, successfully closed the deal. Senior Managing Director, David Pickard established the initial relationship with LCC.
“Alan Gray was very impressed by the people at LCC as well the web-based, AI technology underlying its SIMS product. Developed over three decades, I am excited to see the product and service continue to evolve under the capable hands of Alan Gray,” said Shmueli.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 300 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.