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Commercial Deals

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

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Commercial Regulatory Issues

Bar Warns Repealing Collective Actions Could Empower Big Business

By John Freund |

The Law Society of England and Wales has sounded the alarm that scrapping the UK’s opt‑out collective actions regime would invite a surge in unchecked anti‑competitive conduct by multinational firms.

An article in the Law Society Gazette explains that the UK government is reviewing its collective redress regime—introduced in 2015 under the Competition Appeal Tribunal (CAT) framework—to determine whether it remains appropriate for businesses and consumers alike. Above all, the bar warns that eliminating or substantially reducing the ability of groups of consumers to act together would remove a key check on large firms’ power.

According to the bar’s statement, collective actions provide a vital counterbalance: they allow individuals with smaller claims (often against powerful enterprise defendants) to combine resources, reduce costs, and obtain meaningful relief. Without that mechanism, the risk is that dominant players may routinely engage in cartel‑type behaviour, abuse market position or otherwise infringe competition law with little fear of private litigation.

The review highlights that the regime has evolved faster than anticipated: the original design assumed most cases would follow a finding by the competition authority, but in practice around 90% are now “stand‑alone” claims brought without a prior regulatory decision.

For the legal funding and litigation finance sector, this development is especially consequential. Were collective actions to be scaled back or abolished, the landscape for financing competition‑law claims would shift markedly: fewer aggregated opportunities, higher individual‑case risk, and potentially lower investor appetite. It raises key questions about the future viability of funding models that rely on class‑style litigation in the UK market.

Case Developments Commercial

Mass‑Tort Funder Sues Lake Law Firm After $5.3 M Investment Collapse

By John Freund |

A healthcare‑turned‑litigation investor has taken legal action against Lake Law Firm and its partner Ed Lake, alleging a sweeping investment failure in the mass‑tort financing space. According to the complaint filed in New York State Supreme Court on October 22, the investor pumped around $5.3 million into programs tied to hernia‑mesh, Bayer AG’s RoundUp, 3M Co., and Johnson & Johnson talcum‑powder claims — only to find that fewer than the promised number of cases ever materialized.

An article in Bloomberg notes that per the suit, the law firm had committed to signing up 113 hernia‑mesh cases, 100 3M cases, and 50 RoundUp matters, but delivered only 15, 40, and 8 respectively. Separately, Lake Law pledged submission of 8,000 applications under the federal Covid‑era Employee Retention Credit program, yet managed only 2,655. The complaint characterizes the structure as “more akin to a Ponzi scheme than a legitimate litigation‐finance program.”

The investor also alleges that the law firm defaulted on a “case‑replacement agreement,” and is now demanding $6.2 million in damages, plus rights to any mass‑tort profits and tax‑credit claims that “rightfully belong” to him. According to the filing, his wife had separately invested $2.5 million and likewise filed suit last week claiming non‑repayment.

Commercial Deals

Group & Collective Action Market Positioned for Growth Following UK Reforms

By John Freund |

The latest chapter of the Global Legal Group’s Class and Group Actions Laws & Regulations 2026 report titled “In Case of Any Doubt – The Group and Collective Action Market is Here to Stay” provides a clear signal: the group and collective litigation landscape across the UK and Europe is evolving, and legal funders should take notice.

An article in ICLG highlights several key moves in the UK: the Civil Justice Council (CJC) issued its final report in June 2025 on private litigation funding, recommending “light‑touch” regulation of third‑party litigation funding and reiterating support for funding as a tool of access to justice. It follows the PACCAR Ltd v Green & others decision by the United Kingdom Supreme Court, which classified certain litigation funding agreements as damages‑based agreements (DBAs), raising regulatory scrutiny on opt‑out collective proceedings before the Competition Appeal Tribunal. The CJC recommends reversing that classification via legislation, permitting DBAs in opt‑out class actions, and regulating funders’ capital and AML compliance.

Meanwhile, the UK’s opt‑out collective action model under competition law is under review. The government’s call for evidence flagged the high costs and shifting case mix as areas of concern.

On the European front, the Representative Actions Directive has spurred changes in France and Germany. France’s new law allows third‑party funding of group actions and broadens access and scope. Germany’s implementation enables qualified consumer associations to bring collective redress for both injunctive and monetary relief across a wide range of sectors including ESG, data‑protection and tort.

For legal funders, these developments signal both opportunity and risk. On one hand, enhanced regulatory clarity and expanded access points strengthen the business case for collective‑action funding. On the other, increasing scrutiny over funding arrangements, roles of funders, and capital adequacy impose compliance burdens.