Intermediate Capital Group (“ICG”), a leading independent investor and fund manager, announces that it has acquired a significant minority stake in legal services firm CPA Global, investing alongside the company’s senior management team and the founding shareholders.

The acquisition has received the required approvals from CPA Global shareholders as well as the Jersey courts, which sanctioned a new Scheme of Arrangement that came into effect today. The terms of the transaction are not disclosed.

Founded in Jersey in 1969, originally to manage patent renewals, CPA Global has expanded over the years to become a multinational company that is the clear market leader in the global intellectual property (IP) services market and one of the world's leading providers of broader legal services outsourcing, including litigation support, document review and contract management. The legal services outsourcing sector is expected to grow rapidly over the next few years, with estimates of the potential market value in the tens of billions of dollars.