Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, is to acquire a majority ownership stake in Vector Solutions (Vector), a provider of industry-focused software solutions for training, risk management, workforce management and operational readiness.
Genstar is acquiring Vector from Golden Gate Capital, a leading private equity investment firm, which will remain a significant shareholder in the business. The transaction is expected to close in the next 45 days.
Vector is the leading provider of intelligent and industry-focused SaaS solutions that connect information and technology to deliver insights and knowledge when and where they are needed. Serving approximately 22 million users and more than 21,000 clients worldwide, Vector uses the latest innovations in training and technology to create safer, more capable and compliant organisations across the industrial, engineering, education and public safety sectors.
“Genstar’s interest in Vector Solutions is a testament to our consistent growth, talented team and the exceptional value of our leading solutions,” says Marc Scheipe, CEO of Vector. “We are excited to have the support of Genstar and Golden Gate Capital as we continue to serve everyday heroes by delivering intelligent software solutions that empower safer, smarter and better decisions.”
“Companies are increasingly demanding sophisticated technology solutions to help their employees rise to the challenges of complex and regulated work environments, and Vector is the clear leader in meeting that need,” says Geoff Miller, Director at Genstar. “We are excited to partner with Marc Scheipe, the Vector leadership team and Golden Gate Capital to invest further in developing new and expanding existing markets both organically and through M&A.”
“We have enjoyed a highly successful partnership with Vector since acquiring the Company in 2018 as it has meaningfully scaled its business, expanded its platform of industry-leading software solutions and successfully evolved its brand,” says Rishi Chandna, a Managing Director at Golden Gate Capital. “We look forward to continuing to support Vector in its next chapter alongside Genstar.”
Matthew Crump, a Principal at Golden Gate Capital, adds: “We have tremendous respect for Marc and the impressive Vector management team as they help elevate the safety and success of their clients and the communities they serve. With a strong track record of organic growth and five strategic acquisitions since our investment, we are confident that Vector will continue to be an innovative industry leader.”
Kirkland & Ellis LLP served as legal advisor to Genstar. William Blair & Company, LLC and Baird served as financial advisors to Golden Gate Capital and Vector and Paul, Weiss, Rifkind, Wharton & Garrison LLP, Nob Hill Law Group PC and Trenam Law served as legal advisors.
