Inflexion Private Equity has sold CMO, the enterprise health, safety, environment (HSE) and governance, risk, compliance (GRC) software solutions business, to Mitratech, a US-headquartered global software provider, backed by TA Associates.
Financial details of the transaction have not been disclosed.
CMO serves blue-chip customers which include Maersk Group, KPMG, Heathrow Airport and BHP. Operating in a large, global market, which is enjoying double digit annual growth, demand for CMO’s products is driven by an increased need for configurable compliance software, increasing regulation as well as the increasing cost of non-compliance.
Mitratech, which provides software solutions to corporate legal departments, was attracted to CMO as it provides a scalable, mobile optimised, platform which compliments its existing product suite. CMO gives Mitratech a wider global footprint across the GRC sector adding new customers through which it can cross-sell its existing legal software services.
John Hartz, Managing Partner at Inflexion, says: “We are pleased to announce the sale of CMO to Mitratech; it’s a complimentary fit for the US-headquartered software provider and Inflexion’s second sale to a US buyer in the last 12 months following the realisation of Reward Gateway in 2015.”
Inflexion recently sold CP Electronics to Legrand Plc and announced the launch of Inflexion Enterprise Fund IV, a GBP250 million fund focused on the UK lower mid-market, together with Inflexion Supplemental Fund IV, a GBOP250 million fund to invest alongside its larger buyout and partnership capital investments.
