TCF Capital Funding (TCFCF), the Chicago-based cash flow and asset-based lending division of TCF National Bank (“TCF Bank”), announced that it provided the secured financing to support the acquisition of Xcellence, Inc dba Xact Data Discovery and its subsidiaries (XDD) by Clearview Capital, LLC.
XDD is a rapidly growing provider of electronic discovery and data management solutions headquartered in Mission, KS. Bob Polus, the company’s founder and CEO, will continue to lead the management team and retain significant ownership in the company.
XDD provides streamlined forensic collection, processing,hosting, document review and project management services, representing an end-to-end solution to support its clients throughout the discovery process. Leveraging its unique combination of onshore and offshore project management and delivery, the Company provides exceptional service and responsiveness to its clients. XDD’s customers include a diverse group of national and regional law firms, corporations and government entities, which the Company services from 16 offices in 11 states.
"We are pleased to support Clearview's investment in Xact Data Discovery," said TCF Capital Funding Vice President Scott Nielsen. "The company's management team has an excellent record of top and bottom line growth in its dynamic market, and Clearview’s history with the Company and their capital resources to pursue incremental new locations and acquisitions makes them the ideal sponsor to position the Company for its next phase of growth."
“We have been very impressed with Bob and the entire team at XDD and believe the company represents a compelling platform to take advantage of the double digit growth taking place in the eDiscovery and legal process outsourcing industry,” said Bill Case, partner of Clearview Capital.
TCF Capital Funding provides cash flow and asset-based lending to lower middle market businesses. National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.
Clearview Capital, LLC is a private investment firm based in Old Greenwich, CT that invests in and develops mid-sized, North American companies in partnership with management. Clearview Capital invests exclusively alongside management in service and manufacturing companies that have dominant market positions in strong prospects for growth.