NEW YORK, September 30, 2010 /PRNewswire/ -- Stroz Friedberg's unsurpassed expertise in managing digital risk and uncovering digital evidence has helped attract a US$115 million investment from New Mountain Capital to fuel and accelerate the company's growth.
This investment is with the perfect partner and happens at the perfect time, says Eric Friedberg ( http://www.strozfriedberg.com/professionals/xprProfessionalDetails1.aspx... ), Co-President of Stroz Friedberg (http://www.strozfriedberg.com). Over the next three years, the firm plans to expand to key markets in the U.S., Europe, the Middle East, and Asia, as well as broaden its service offerings beyond digital forensics, electronic discovery, cyber-crime response, and investigations to include forensic accounting and intelligence services for businesses. New Mountain is the ideal partner given its strong experience and skill in scaling successful mid-sized organizations into larger companies worthy of public investment.
Founder and Co-President Edward Stroz ( http://www.strozfriedberg.com/professionals/xprProfessionalDetails1.aspx... ) says the investment will help Stroz Friedberg meet clients' increasing digital needs.
Our clients are demanding more of our expertise for malware analysis, forensic accounting, and e-discovery, says Mr. Stroz, and New Mountain Capital shares our vision about the best way to scale and deliver our expertise in the marketplace.
New Mountain Capital, a New York based investment firm, currently manages more than US$9 billion in aggregate capital commitments.
Data security and digital forensics represent a challenge that touches all businesses, and considering the heightened technological and regulatory risks of today's world, the need for these services will only intensify, says Alok Singh, Managing Director of New Mountain Capital. Stroz Friedberg is a company with a sterling reputation based on the superior quality of its work and its people. We're excited to be able to help this firm build upon its existing successes.
New Mountain Capital will own approximately 50 percent of Stroz Friedberg, with the remaining ownership shared by Greenhill Capital Partners II LP, Stroz Friedberg's initial private equity investor, and Stroz Friedberg's employees.
Stroz Friedberg has experienced tremendous growth since its inception in 2000, and has more than tripled its revenues since our investment in December 2006. This partnership will enable the firm to meet the increased demand for managing the risk inherent in key digital assets such as e-mail, source code, electronic records, and Web 2.0 presence, says Robert Niehaus, Chairman of GCP Capital Partners LLC, the investment firm that manages Greenhill Capital Partners II LP.
Stroz Friedberg's proactive growth strategy is meant to further support its clients' global needs. New Mountain Capital's robust investment in the firm, along with the continued guidance and support of Greenhill Capital Partners, will help speed Stroz Friedberg's ability to establish offices both domestically and globally, where existing clients' demands are urgent and potential clients abound. The additional resources will further the firm's ability to attract its signature consultative talent in the form of both high-profile industry specialists and brilliant young stars emerging from the top undergraduate and Masters programs.
Mr. Stroz and Mr. Friedberg will continue as Co-Presidents and will be joined on Stroz Friedberg's Board of Directors by Fred Salerno, Raj Gupta, Myron Trepper, and Alok Singh, who will serve as Lead Director. Robert Niehaus and Dhiren Shah will continue serving on the Board representing Greenhill Capital Partners. Fred Salerno is former Vice Chairman and CFO of Verizon and current Director of Akamai Technologies, Inc., CBS Corp., Intercontinental Exchange, Inc., Banco Popular, Inc., Viacom, Inc., and National Fuel Gas Co. Raj Gupta is former Chairman and CEO of Rohm and Haas and current Director of Tyco, The Vanguard Group, and Hewlett-Packard Company. Myron Trepper formerly served as Co-Chairman of Willkie Farr Gallagher LLP and now serves as Senior Counsel to the law firm.
For 10 years, Eric Friedberg and I have kept our firm focused on helping companies and law firms with exceptional expertise in digital evidence, investigations, and computer breach incident response, says Mr. Stroz, and we see the need for these services, including Foreign Corrupt Practices Act and forensic accounting investigations, substantially increasing.
About Stroz Friedberg, LLC
Stroz Friedberg is the leading global consulting firm for managing digital risk and uncovering digital evidence. The company specializes in digital and mobile device forensics, electronic discovery, data breach response, anti-money laundering, and cyber and traditional investigations. Working at the cutting edge of law, policy, and technology, the company provides technical assistance and strategic advice to help clients effectively manage electronic information. Learn more about the firm's capabilities and experience at http://www.strozfriedberg.com.
About New Mountain Capital
New Mountain Capital is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions, and management buyouts. The Firm currently manages private and public equity funds with approximately US$9 billion in aggregate capital commitments. New Mountain seeks out the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit http://www.newmountaincapital.com.
About GCP Capital Partners
GCP Capital Partners is a New York based private equity firm formed as the successor to Greenhill Capital Partners, the merchant banking business of Greenhill Co., Inc, which was founded in 2000. The existing Greenhill Capital Partners funds total US$1.7 billion in committed capital. The GCP Capital team has made significant private investments in the business services, education, energy, financial services, insurance and telecommunications industries. For more information on GCP Capital Partners, please visit http://www.gcpcapital.com.
For more information, contact Stroz Friedberg Chief Marketing Officer Pamela Siegel at +1-212-981-6546
SOURCE: Stroz Friedberg
CONTACT: Pamela Siegel, Chief Marketing Officer of Stroz Friedberg,+1-212-981-6546