Veriforce Completes Sale to Apax Partners
Deal News | Dec 02, 2024 | Thoma Bravo
Thoma Bravo, a prominent software investment firm, has finalized the divestment of its controlling stake in Veriforce, a leader in supply chain risk management (SCRM) solutions, to funds managed by Apax Partners LLP. While the financial specifics remain undisclosed, the deal reflects Thoma Bravo's successful five-year tenure of ownership in Veriforce, during which the company experienced a significant sixfold revenue increase through strategic mergers and acquisitions and organic growth. Under this stewardship, Veriforce broadened its operational footprint to more than 140 countries and expanded its client base to over 1,300. Its solutions are utilized by a wide spectrum of industries globally, focusing on enhancing safety and compliance across supply chains. Thoma Bravo's partnership and expertise were pivotal in Veriforce's transformation from a niche player with two core products into a global category leader offering more than ten products in various industries. Moving forward, Veriforce will continue to leverage its platform, VeriforceOne, to offer cutting-edge supply chain management solutions under the new ownership of Apax Partners. Thoma Bravo, known for its expansive portfolio exceeding $166 billion in assets, continues to support growth-driven technology and software companies.
Sectors
- Software and Technology
- Supply Chain and Logistics
Geography
- United States – Both Thoma Bravo and Veriforce have strong operations and presence in the US, making it a key geography for the transaction.
- United Kingdom – Veriforce has operational hubs in the UK, highlighting its geographic presence outside the US.
- Canada – Canada is part of Veriforce's operational hubs, indicating its significant market presence.
Industry
- Software and Technology – The involvement of Thoma Bravo, a major investor in software and technology, and Veriforce, a provider of supply chain risk management solutions, places this deal firmly within the software and technology sector.
- Supply Chain and Logistics – Veriforce's focus on providing supply chain risk management solutions categorizes it within the supply chain and logistics industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Thoma Bravo | Selling Company | Company | A leading software investment firm that owned Veriforce for five years, facilitating significant growth. |
| Veriforce | Target Company | Company | A global provider of supply chain risk management solutions, recently sold to Apax Partners. |
| Apax Partners LLP | Bidding Company | Company | A private equity firm that acquired Veriforce from Thoma Bravo. |
| Colby Lane | CEO | Person | CEO of Veriforce, who oversaw the company's growth under Thoma Bravo's ownership. |
| Hudson Smith | Partner | Person | A partner at Thoma Bravo who commented on the successful strategic transformation of Veriforce. |
| George Jaber | Principal | Person | A principal at Thoma Bravo who highlighted the growth strategy executed with Veriforce. |