Permira funds complete acquisition of LegalZoom equity
A company backed by European private equity firm Permira has completed the acquisition of more than USD200m of the outstanding equity of LegalZoom, a provider of online legal document preparation services.
The Permira funds are now LegalZoom’s largest shareholder and will appoint a majority of the company’s board of directors.
LegalZoom’s management team and Institutional Venture Partners have maintained the vast majority of their ownership stakes in the company, while Kleiner Perkins Caufield & Byers has maintained its entire stake. Polaris Venture Partners maintained a portion of its ownership in the company.
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