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Renovus Capital Partners Announces Majority Investment in Angeion Group

By Harry Moran |
October 8, 2024

Renovus Capital Partners Announces Majority Investment in Angeion Group

Renovus Capital Partners (“Renovus”), a private equity firm based in the Philadelphia area, announced today that it has acquired a majority stake in class action case management solutions provider Angeion Group, LLC (“Angeion”). Founder & Chief Executive Officer, Steven Weisbrot, and senior members of the management team have maintained a significant ownership stake in the Company and will continue to drive the growth of the platform in partnership with Renovus. Marks Baughan Securities LLC served as the exclusive financial advisor to Angeion Group in the transaction.

Angeion, which is also headquartered in Philadelphia, is the leading innovator in the class action settlement industry. As a global provider of notice and claims administration services, the company has built a technology platform that enables its legal experts to manage the largest and most complex class action settlements.

The Renovus partnership will enable Angeion to accelerate the buildout of its management, client service, and delivery teams and increase investment in its proprietary class action technology solutions. Angeion plans to grow its leadership position in the US market and continue to develop its international business through a combination of key hires, new solutions, and strategic acquisitions.

Angeion was founded in 2013 by Steve Weisbrot, Esq. and Christopher Chimicles, with a mission to modernize the class action settlements industry. With over 160 team members, the Company provides high-quality service and innovative technology solutions in settlement administration, adapting to the constantly evolving legal services ecosystem. To date, its team has managed more than 2,000 class action settlements and distributed over $10 billion to class members.

“This partnership marks a major milestone in Angeion’s growth journey,” said Weisbrot. “The investment from Renovus is a testament to the dynamic team that has propelled Angeion into the great company that it is today and that will continue to drive its growth into the future. I am extremely proud of what we have accomplished, and I am even more energized for the years ahead.”

“Angeion is one of the most differentiated and fastest growing players in class action services,” said Renovus Managing Director Lee Minkoff. “Renovus has a track record of identifying unique tech-enabled legal services companies, aligning with management on a growth thesis, and making investments to execute that thesis. This is the exact opportunity we have with Angeion, and we could not be more excited to partner with Steve and the management team.”

Marks Baughan served as exclusive financial advisor to Angeion Group.

About Angeion Group

Angeion Group stands at the forefront of settlement administration and legal noticing services. Leveraging advanced technology, proven best practices, and expert consulting, Angeion specializes in managing class actions and other types of mass litigation. Angeion’s dedication to efficiency, accountability, and excellence instills confidence in counsel and the court alike. 

About Renovus Capital PartnersFounded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $2 billion of assets across its several sector focused funds. The firm’s current portfolio includes over 30 U.S. based businesses specializing in education and workforce development and services companies in the technology, healthcare and professional services markets. Renovus typically makes control buyout investments in founder owned businesses, leveraging its industry expertise and operator network to make operational improvements, recruit top talent and pursue add-on acquisitions. Visit us at www.renovuscapital.com and follow us on LinkedIn.

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Harry Moran

Harry Moran

Commercial

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Commercial

Courmacs Legal Leverages £200M in Legal Funding to Fuel Claims Expansion

By John Freund |

A prominent North West-based claimant law firm is setting aside more than £200 million to fund a major expansion in personal injury and assault claims. The substantial reserve is intended to support the firm’s continued growth in high-volume litigation, as it seeks to scale its operations and increase its market share in an increasingly competitive sector.

As reported in The Law Gazette, the move comes amid rising volumes of claims, driven by shifts in legislation, heightened public awareness, and a more assertive approach to legal redress. With this capital reserve, the firm aims to bolster its ability to process a significantly larger caseload while managing rising operational costs and legal pressures.

Market watchers suggest the firm is positioning itself not only to withstand fluctuations in claim volumes but also to potentially emerge as a consolidator in the space, absorbing smaller firms or caseloads as part of a broader growth strategy.

From a legal funding standpoint, this development signals a noteworthy trend. When law firms build sizable internal war chests, they reduce their reliance on third-party litigation finance. This may impact demand for external funders, particularly in sectors where high-volume claimant firms dominate. It also brings to the forefront important questions about capital risk, sustainability, and the evolving economics of volume litigation. Should the number of claims outpace expectations, even a £200 million reserve could be put under pressure.

Commercial

Katch Liquidates Consumer Claims Fund Amid Mounting Delays and Pressure

By John Freund |

Katch Fund Solutions, one of the most prominent players in consumer litigation funding, has placed its consumer claims fund into liquidation.

According to Legal Futures, the move comes in response to mounting liquidity pressures caused by prolonged delays in resolving motor-finance claims and increased uncertainty surrounding major group litigation efforts. The Luxembourg-based fund confirmed it is winding down the portfolio and returning capital to investors on a pro-rata basis.

Katch had been a key backer of large-scale consumer legal claims in the UK, supporting firms such as SSB Law and McDermott Smith Law. Both firms ultimately collapsed, with SSB Law owing £63 million including £16 million in interest, and McDermott Smith Law owing £7 million. Katch’s portfolio also included a substantial stake in the ongoing “Plevin” litigation, a group of cases alleging unfair undisclosed commissions tied to the sale of payment protection insurance. That litigation, initially estimated at £18 billion in value, suffered a blow earlier this year when the High Court declined to grant a group litigation order, further delaying resolution timelines.

The firm’s consumer claims fund held over £400 million in assets as of mid-2025, but was hit hard by increasing investor redemption requests. Katch’s team cited concerns that payouts from major motor-finance cases could be delayed until 2026 or later due to regulatory and judicial developments. With limited short-term liquidity options, the fund concluded that an orderly wind-down was the only viable path forward.

Case Developments Commercial

Omni Bridgeway Backs New Zealand Class Action Against Transpower, Omexom

By John Freund |

Omni Bridgeway is backing a newly launched class action in New Zealand targeting Transpower New Zealand Limited and its contractor Omexom, following a major regional blackout that occurred in June 2024.

According to Omni's website, the outage, which affected approximately 180,000 residents and 20,000 businesses across Northland, was triggered by the collapse of a transmission tower near Glorit during maintenance activity conducted by Omexom.

Filed in the High Court in Wellington by law firms LeeSalmonLong and Piper Alderman, the case alleges negligence on the part of both defendants. The plaintiffs claim that Transpower failed to adequately oversee the maintenance, and that Omexom mishandled the work that led to the tower’s collapse.

The class action is proceeding on an opt-out basis, meaning all impacted Northland businesses are automatically included unless they choose otherwise. Under Omni Bridgeway’s funding model, there are no upfront costs to class members, and fees are contingent on a successful outcome.

The economic impact of the outage has been pegged between NZ$60 million and NZ$80 million, according to various estimates, with businesses reporting power losses lasting up to three days and in some cases longer. In the aftermath of the blackout, Transpower and Omexom jointly contributed NZ$1 million to a resilience fund for affected communities, a figure the plaintiffs argue is woefully inadequate compared to the losses incurred.