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Private equity firm GTCR’s management partnership Opus Global, led by former VeriFone chief executive Douglas Bergeron, has acquired Hiperos, a specialist in third party management.
Hiperos’ SaaS-based solutions serve the third party-related information management, risk, compliance and performance needs of Global 2000 companies such as Aetna, AXA, Bank of Montreal, CA Technologies, Charles Schwab, Microsoft, News Corporation, PNC Bank, Rockwell Automation, Sun Life Financial, State Street, TD Bank, and United Technologies.
GTCR and Opus Global – in partnership with Hiperos’ current management team – will look to accelerate the company’s strong rate of organic growth by investing in global expansion and product development that further establishes its market leadership in third-party management.
In addition, GTCR and Opus Global believe there are a number of opportunities to supplement Hiperos’ organic growth with complementary acquisitions.
“Risk and compliance, and the burgeoning third-party management sector in particular, represents an enormous and underserved market for innovative applications, particularly among large enterprises. As we assemble the key components of our risk and compliance platform, we will seek to build the leading compliance and risk management partner to all of the Global 2000,” says Bergeron. “I am excited to once again partner with GTCR, and look forward to working with Greg Dickinson and the rest of Hiperos’ extremely accomplished management team as we invest together in the next stage of the company’s growth.”
“We are extremely excited to make Hiperos the initial platform for Opus Global’s long-term vision in risk and compliance,” says GTCR managing director Collin E Roche. “This is a market in which we have a tremendous amount of interest and expertise, and we believe the intersection of mounting regulatory imperatives, increased complexity and growing corporate focus on risk management represents an enormous opportunity for innovative solution providers that can improve the business processes exposed to these corporate requirements and related risks. Hiperos is well-positioned to capitalise on these trends, and we are excited to once again partner with Doug Bergeron.”
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