Inverness Graham, a private investment firm based in suburban Philadelphia, has sold Spirion LLC, a provider of enterprise data management security software, to the Riverside Company.
Spirion helps customers reduce their sensitive data footprint and minimise risks of cyber-attacks. Spirion’s customers include leading firms in the financial services, retail, healthcare, education, and public sectors. Inverness Graham acquired Spirion in December 2014.
“We are very pleased with the team’s accomplishments at Spirion during our three-year hold,” says Trey Sykes, Managing Principal of Inverness Graham. “The company was able to accelerate growth by both expanding their product capabilities and successfully penetrating strategically targeted, high-value vertical markets. Spirion is an incredible company with an exceptional product offering and management team and will be a great addition for Riverside.”
Todd Feinman, CEO of Spirion during Inverness Graham’s hold, adds: “In partnership with Inverness Graham, we were able to diversify our customer base and broaden our market opportunity through investments in product functionality and our go-to-market strategy, ultimately leading to exceptional growth and a successful exit.”
Though financial terms have not been disclosed, Drinker Biddle & Reath and Mooreland Partners advised Inverness Graham.
