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Huron Consulting Group Inc. (NASD: HURN) struck a deal to acquire AdamsGrayson, a managed review and legal staffing firm, for $21.5 million in cash and $10 million in deferred payments. The deal is expected to close in July.
Washington-based AdamsGrayson was founded in 1998 and serves law firms and corporate law departments. It operates a document review facility in Washington with more than 200 seats.
The deal calls for AdamsGrayson President Caleb King and Managing Partner Peter Gronvall to become managing directors at Huron Legal, a division of Huron Consulting Group. AdamsGrayson’s approximately 15 employees will also join Huron Legal.
“AdamsGrayson is a very exciting addition to Huron Legal,” said Huron Consulting President and CEO James Roth. “AdamsGrayson and Huron are well matched in terms of our business models and go-to-market strategies. AdamsGrayson will also provide Huron Legal with a stronger presence serving customers in the vibrant Washington, D.C. area, supporting the continued growth of Huron’s business throughout the East Coast.”
Huron Consulting is based in Chicago.