Funds managed by Harvest Partners SCF, the non-control private equity strategy of Harvest Partners, have signed a definitive agreement to lead a minority investment in HelpSystems.
HP SCF will join existing investors TA Associates (TA), Charlesbank Capital Partners (Charlesbank), HGGC and HelpSystems employees.
Thousands of organisations around the world rely on HelpSystems’ cybersecurity and automation software solutions to protect important information and automate manual processes.
“With its robust organic growth, successful acquisition strategy and notable customer loyalty, HelpSystems represents an exceptional investment opportunity. We are excited to partner with management, TA, Charlesbank and HGGC to support HelpSystems’ continued growth,” says Steven Duke, Partner and Co-Head of HP SCF, who will join the HelpSystems Board.
Chris Peyser, a Principal at HP SCF who will also join the Board, adds: “The team has developed compelling, cross-platform solution suites in cybersecurity and automation software to enable IT professionals to simplify management of critical systems. We are impressed with the talented leadership team and look forward to supporting their vision for further expansion across products and geographies.”
“HelpSystems has grown significantly in the 18 months since TA and Charlesbank invested, and we’re thrilled to have attracted HP SCF as a partner as we continue to scale the business,” says Kate Bolseth, Chief Executive Officer, HelpSystems. “We look forward to leveraging HP SCF’s insights as we continue our long-standing tradition of listening to customers and adding high-value solutions to our portfolio.”
“We’ve been impressed with HelpSystems’ organic and inorganic growth since our investment, and we will continue to support Kate and the HelpSystems team as the company extends its leadership in cybersecurity and IT automation,” says Harry Taylor, a Managing Director, and Michael Libert, a Principal, of TA. “TA has invested alongside Harvest Partners and HP SCF in the past, and we believe our continued working relationship will support HelpSystems’ innovation, product expansion and acquisition activity.”
The transaction is expected to close in Q2 2021 pending customary regulatory approvals and closing conditions. Lazard acted as financial advisor to HelpSystems and Goodwin Procter LLP provided legal counsel. William Blair & Company acted as financial advisor and Latham & Watkins provided legal counsel to HP SCF.
