Bison Capital Partners V, LP announces investment in FTR GroupClair Borg
Bison Capital Partners V, LP (“Bison Capital”) has announced a recapitalisation investment in FTR Group Pty Ltd. (“For The Record” or the “Company”), operator of For The Record, a global leader in digital court recording technology and Auscript, a leading recording and transcription services provider in Australia and the United Kingdom.
For The Record provides digital recording solutions to courtrooms including the sale and installation of hardware, software, and content management solutions. For The Record has long been regarded as the industry standard in digital courtroom recording technology worldwide and its hardware and software is installed in 62 countries, including approximately two-thirds of all courtrooms in the US. For The Record has developed technology to allow for high-quality audio capture in a courtroom environment that can be processed through speech-to-text engines to generate an automated digital transcript with over 90% accuracy.
Auscript provides recording and transcription services to courtrooms and related parties in Australia and the United Kingdom. Auscript is the largest transcript provider in Australia, delivering more than 2.5 million pages of transcripts each year, and is the global pioneer of a more efficient and technology-enabled transcription process.
Bison Capital will partner with the Company’s existing management team, as well as bring on additional experience, allowing them to support the company’s growth initiatives to create solutions that help streamline court processes and increase access to justice. Aligning with this change of ownership, Michael G. Rose, a seasoned executive who has worked with Bison Capital on a previous investment and who is a proven leader known for accelerating growth and innovation, has assumed the role of Chief Executive Officer. Mr. Tony Douglass, a founder of For The Record and one of the world’s leading experts in digital recording in Courts and Law Enforcement, will be the Company’s President worldwide.
“We believe Bison Capital will be an excellent partner and are excited about the opportunities this investment brings. Bison is intimately familiar with our operations and business plan and brings a wealth of experience and strategic focus to the business. I look forward to furthering our partnership and supporting the administration of Justice around the world,” said Douglass.
“We are excited to partner with this great organisation as the Company pursues its growth objectives,” said Kurt Pilecki, Vice President at Bison Capital and Director of For The Record. “Bison is impressed with the Company’s long-standing history and growth. For The Record’s compelling technology and high quality services offering is uniquely positioned to modernise the administration of justice around the world.”
Daniel Bernstein at The Corum Group was the financial advisor to this transaction and played an essential role in navigating this deal to the finish line.
About For The Record
For The Record Group, comprised of US-based For The Record and Australia-based Auscript, has revolutionised traditional court recording and transcription processes.
Today, For The Record boasts more than 30,000 digital recording installations across 62 countries. At Auscript, more than 2.5 million pages are transcribed each year, and clients record more than 20 million hours of audio recordings. With cutting edge technology and forward thinking, For The Record is delivering unprecedented levels of access to the court record as well as developing a remote justice solution to revolutionise the way in which trials and hearings are held. For more information visit www.fortherecord.com or www.auscript.com.
About Bison Capital
Bison Capital is a Los Angeles and New York based private equity firm that makes growth capital investments in middle-market companies, public or private, for expansion, acquisitions, and balance sheet recapitalisations. The firm’s primary investment focus is partnering with entrepreneurs and management teams seeking capital to grow their businesses.