LegalShield, the #1 subscription-based provider of legal plans and a leading provider of identity theft solutions, announced today that funds managed by private equity firm Stone Point Capital LLC (“Stone Point”) have entered into a definitive agreement to acquire a majority interest in LegalShield from funds controlled by MidOcean Partners (“MidOcean”).
The deal is expected to close in the second quarter of 2018. Financial terms of the transaction were not disclosed. LegalShield’s management will be co-investing alongside Stone Point and MidOcean, which is retaining a minority stake in the business. The current management team, business model and employee base are not expected to change with this investment. The Company’s headquarters will remain in Ada, Oklahoma.
LegalShield’s mission since its founding in 1972 is to provide access to affordable legal coverage for all members – no matter how traumatic or trivial the situation. LegalShield offers subscription-based plans for legal and identity theft services and has grown to become the #1 subscription-based provider of legal plans to families and small businesses across the U.S. and Canada.
The Company has a network of dedicated law firms in all 50 states and four Canadian provinces, with more than 39 provider law firms providing legal protection to over