Denver, Colorado (April 11, 2005 ) - Holland & Hart LLP, the largest law firm based in the Rocky Mountain Region, announced today that it has sold its majority share in CaseShare Systems, LLC to its founder and former partner, John Tredennick, and a group of investors.
The investor group, led by Catalyst Investment Partners of New York City, and John Tredennick, purchased Holland & Hart’s majority ownership interest in CaseShare Systems, LLC and converted the company into a newly formed Delaware Corporation, CaseShare Systems, Inc. John Tredennick will continue to lead the company as its CEO with the current management and employees remaining in place.
CaseShare Systems provides secure extranet applications to law firms, corporations and insurance companies. Clients use its secure content collaboration software to help widely-dispersed teams manage large document collections and work together on complex matters.
Paul Phillips, Chairman of Holland & Hart, commented, "We are proud of CaseShare and John Tredennick. Holland & Hart has been on the cutting edge of legal extranets and providing technological solutions to our clients to years, and we set up CaseShare in the first place to better serve our clients Now, the new investor funding will allow CaseShare to take it to the next level, to grow at a rate that better serves its existing clients as well as meet the rapid increase in demand for CaseShare's software. We thank John Tredennick for his leadership and innovation in helping solidify Holland & Hart's position as a technological leader among U.S. law firms.”
Holland & Hart has been seen as a leader in using technology to serve clients. Companies such as Dell Computer, Adobe and Raindance have featured Holland & Hart in case studies as technology innovators. John Tredennick was the first law firm CIO.
“This represents an exciting next step for the CaseShare team,” stated CEO John Tredennick. “We have had a successful partnership with H&H since the incubation of CaseShare inside the firm in 1998. Now that CaseShare is in rapid growth mode, it was time to bring in a new level of investor commitment. My partners at H&H were in agreement and this is a step we are taking mutually.”
“The new round of investment positions the company to grow in all three arenas as well as expand its growing international client base,” Tredennick explained. “With the release of our new Catalyst platform, which is based on Oracle Enterprise edition, there is no limit to our ability to scale and meet the increasing data needs of our clients.” CaseShare will use the new funds to expand sales and marketing efforts to supplement the efforts of its founder and CEO. “We have been extremely successful with minimal sales and marketing efforts,” John Tredennick explained. “Now that we have a core group of Fortune 50 clients and have re-architected our platform for maximum speed and scalability, the sky is the limit.”
The CaseShare team came together in the early 1990s as part of Holland & Hart. They spun off as a separate entity in 2000, but were still largely owned by the law firm. The company turned profitable and cash flow positive in 2002 and has continued to grow ever since. In 2003, CaseShare was named a Rising Star in the Deloitte Colorado Fast 50.
In 2004, CaseShare revenue increased by 30%, net income increased by 71%, and data storage increased by 81%. CaseShare currently managed more than 80 million pages in its secure repository with approximately 6,500 users accessing many secure sites. Clients include some of the largest insurance companies in the world, major financial institutions, oil and gas companies and many law firms.