NAVEX Global, a provider of governance, risk management and compliance software, has agreed a majority recapitalisation by investment firm BC Partners.
Existing investor Vista Equity Partners (Vista) initially acquired NAVEX Global in October of 2014 and will retain a minority stake in the company.
NAVEX Global was formed in 2012 from the joining of four industry leading firms, with histories tracing back to 1981, and is headquartered in Portland, Oregon, United States. Today, the company works with over 13,000 businesses globally and provides the world’s most comprehensive ethics and compliance software platform, allowing clients to address issues and respond quickly and effectively in increasingly complex regulatory environments.
“This transaction speaks to the tremendous value NAVEX Global has built by providing the best governance, risk management and compliance solutions for our thousands of customers worldwide,” sasaysid NAVEX Global CEO Bob Conlin. “We’re thrilled to begin our next chapter with BC Partners, and excited to renew our partnership with Vista, whose enterprise expertise has proved invaluable during the past four years. Both firms understand our value and will offer the tools and resources necessary to help us continue to grow and thrive.”
BC Partners intends to help accelerate NAVEX Global’s expansion into international markets, as well as to broaden its product offering of governance, risk management and compliance solutions, one of the fastest growing sectors in the software industry.
“We are excited to work with NAVEX Global and its leadership team, and look forward to investing in new products as well as international expansion,” says BC Partners Senior Partner Mark Fariborz. “NAVEX Global is already a leader in governance, risk management and compliance and we are confident that the company has even more room to grow organically and through M&A.”
For Vista, its agreement to reinvest in NAVEX Global represents a continued commitment to the company and belief in its potential for sustained growth.
“We acquired NAVEX Global in October of 2014 because we saw tremendous potential for growth in both the company and the market,” says Robert F Smith, Founder, Chairman and CEO of Vista Equity Partners. “We are reinvesting in NAVEX Global because we see an opportunity for further product development and international expansion, and are excited to be a part of the company’s next phase of growth.”
Noble Rock Advisors Incorporated will also be investing in the transaction.
BC Partners was advised on legal matters by Simpson Thacher & Bartlett LLP, and Shea & Co served as financial advisors. Morgan Stanley & Co. LLC served as financial advisors to NAVEX Global, and Kirkland & Ellis LLP served as the company’s legal advisors.
