Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that they have completed the sale of Tabs3 Software to a new capital partner. Headquartered in Lincoln, Nebraska, Tabs3 is the leading provider of financial and practice management software to small and mid-sized law firms. Baird served as the exclusive financial advisor to Tabs3. Terms of the transaction were not disclosed.
During its ownership of Tabs3, TSCP supported the Company’s growth by expanding direct and indirect sales channels, improving customer retention, optimizing pricing and executing the transformative add-on acquisition of CosmoLex, a leading cloud-based provider of legal practice management software with fully integrated accounting.
Dan Berlin, Chairman and CEO of Tabs3 Software, said, “We have greatly enjoyed partnering with the team at TSCP. Over the last several years they have provided us excellent counsel, invested in, and supported our organic growth, as well as financing and guiding us through an acquisition. TSCP is our first experience working with private equity partners, and it could not have gone better. We look forward to staying on this trajectory with our new partner.”
According to Craig Albrecht, TSCP Managing Director, “Throughout our partnership with Tabs3 Software, we accelerated revenue growth and executed on a number of strategic initiatives together. We are confident that the Company is well positioned for continued growth as the market-leading provider of integrated financial and practice management software for small and mid-sized law firms.”