Case Study: LECG
In October 2000 Quadrant Capital and a US Private Equity Fund backed founder David Teece in the management buy-out of LECG Corporation (LECG) from its NYSE listed parent, Navigant Inc.LECG was a leading economic consulting services firm that provided sophisticated economic and financial analysis, expert testimony, litigation support and strategic management consulting to a broad range of public and private enterprises. Areas of expertise included anti-trust, industry deregulation, damages analysis, economic and financial modelling, intellectual property valuation, environmental economics and public policy.
Quadrant’s rationale for investment was as follows:
- Creative business model – LECG was one of the first business of its type to extract experts from universities around the world and provide them with a corporatised environment to provide their advice
- Barriers to entry - industry experts providing consulting services were contracted to LECG
- Well established brand name and reputable service offering
- Global presence – LECG has been able to spread its business model globally providing growth in key markets around the world
- Strong and committed management team
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