LAC Group, specializing in global information management and recruiting of professional services is pleased to announce a merger with Chase Cost Management (CCM), an expense reduction services firm located in New York. Combined, both firms revenue in 2011 totaled $25 million.
The merger will create a platform of services focused on cost efficient solutions for clients. Both firms will retain their names, and CCM will become a division of LAC. LAC has 300 employees in seven offices with operations at over 60 locations in the United States, Europe and Canada.
LAC’s clients include NASA, BP, the Library of Congress, National Library of Medicine, Tulane University, major law firms and a host of Fortune 500 medical, broadcast, entertainment and pharmaceutical companies. Formed in 1986, LAC is a certified woman-owned business. It has information management capacity in 25 languages in addition to having the resources to organize physical and digital asset management exceeding 200 million items.
“This merger yields the advanced quality of managed services our clients need. CCM’s impressive track record in fiscal savings has delivered more than $200 million in savings to their clients,” says Deborah Schwarz, president and CEO of LAC Group. “This is welcome news to LAC clients as we can now tap CCM’s benchmark studies and contract negotiation skills in further reducing client costs,” adds Schwarz.
LAC will now have a stronger presence in NY as a result. CCM provides more than 80 of the top 200 law firms (as ranked by American Lawyer) with customized expense reduction services. The firm is known for its creative strategies in streamlining costs of multi-layered and highly complex vendor contracts. CCM will maintain all staff and operations under its existing name and brand, as a division of LAC Group.
In turn, CCM clients will benefit from LAC’s vast capacity in information management and its ability to put professional services staff in place for short/long-term, permanent or virtual positions covering any project specifications. “Our professionals can parachute in at any stage of a project from its genesis to full execution so clients don’t lose momentum in their business cycle,” Schwarz explains. LAC’s recruiting resources are powered by the firms’ database of 35,000 pre-screened and pre-qualified candidates.
Len Levy, president of CCM, states, “This merger establishes a west coast presence for CCM and immediately benefits our clients in the areas of library consulting, facilities and records operations management and staffing resources.” Levy founded CCM in 1998 and the firm acquired its 50th law firm client in 2005.
Merging companies is not unfamiliar territory to Schwarz, as she has merged LAC with two other companies in the firm’s 25 years. “We are seasoned in this process so we are better prepared on how to approach the blending and leveraging of resources,” explains Schwarz. Merger discussions between the firms began in the spring of 2011 and were finalized in November. “There are so many ripe opportunities as a result of the merger that 2012 is off to a great start for us,” Schwarz says.
ABOUT ABOUT CHASE COST MANAGEMENT
Chase Cost Management (CCM) was founded in 1998 in New York City, operating as a division of LAC Group since 2011. CCM provides strategic spend management advice and programs that enable large enterprises to contain costs and reduce expenses for optimal financial performance. Proven results are based on in-market experience, contract negotiation expertise, benchmarking knowledge and access to extensive data on costs, expenditures, vendors and SKUs. CCM serves major law firms and Fortune 500 corporations.
Chase Cost Management (CCM) is not affiliated with JPMorgan Chase & Co. or its “Chase” branded financial services.