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P2 Capital Partners Surges Stake in EPIQ Systems, Inc. (EPIQ) Sending Stock Price Up

As a recent filing with the US Securities and Exchange Commission showed, that P2 Capital Partners has surged its position in EPIQ Systems, Inc. (NASDAQ:EPIQ) to almost 6.1 million shares, from 1.75 million the fund disclosed in its latest 13F. Following the increase, P2 Capital Partners, which is led by Claus Moller, owns 16.9% of the company’s common stock.

EPIQ Systems, Inc. (NASDAQ:EPIQ)

Moreover, P2 Capital’s stake is activist by nature. The fund disclosed in the filing that it planned to acquire a significant stake in the company. Following the increase, P2 Capital stated that if EPIQ Systems, Inc. (NASDAQ:EPIQ) is interested in negotiating a deal to take the company private, some of the funds affiliated with it, might be interested in taking control of the company. Earlier in August and September, P2 Capital discussed with EPIQ’s Board of Directors regarding acquiring the company in a deal worth $20 per share.

EPIQ Systems, Inc. (NASDAQ:EPIQ) is a technology company that engages in integrated technology-enabled solutions for electronic discovery, bankruptcy and class action settlement administration.  The stock of the company gained around 14% since the beginning of the year, and surged by over 6% today, after the disclosure of P2 Capital’s stake.

EPIQ Systems, Inc. (NASDAQ:EPIQ) issued a statement following P2’s disclosure of a significant activist stake. The company said that its Board of Directors has explored a various range of opportunities for the company to increase the shareholder value. The Board also came to a conclusion that P2’s proposal to take the company private, “does not unlock the company’s long-term value, is inadequate from a financial point of view, and is not in the best interest of the company and its shareholders.”

During the second quarter of 2014, Jerrold Fine‘s Charter Oak Partners Management added EPIQ Systems, Inc. (NASDAQ:EPIQ) to its equity portfolio. Charter Oak revealed holding 148,100 shares of the company in its latest 13F. Tigershark Partners, led by Tom Facciola, upped its by 11% during the same period and disclosed ownership of close to 120,900 shares. In addition, Ken Griffin‘s Citadel Investment Group surged its exposure to the company by 140% on the quarter to around 68,900 shares held as of the end of June.

Disclosure: none

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