Cash suggested by Apax Partners today announced the signing of a definitive agreement to receive a the vast majority stake of world managed security expert services provider Herjavec Group (HG).
Underneath the deal, Robert Herjavec, who started the award-winning business in 2003, will keep on as chief government officer and continue being a significant stakeholder.
Herjavec stated he “could not be a lot more thrilled” to welcome the Apax Associates crew to his award-winning business.
Describing what the enterprise has attained so considerably, Herjavec said: “About the previous seventeen yrs, HG has remained steadfast in our mission to make enterprises close to the globe additional secure. We have succeeded in that exertion by creating an industry-leading 24/7 Managed Security Services apply, by advancing our proprietary IP, by diversifying our offerings to involve Advisory, Managed Detection & Reaction, Identification and Incident Reaction expert services, and by choosing what I essentially believe that is the pretty ideal staff in the planet.”
For Herjavec, the prepared acquisition is recognition of the do the job that he and his colleagues have set in about the yrs.
“This acquisition and the expansion funding that results is a testament to our whole staff, and to our loyal client base who has entrusted us with their mission critical property,” said Herjavec.
“I am fired up for this future phase in our expansion trajectory as we continue on to get paid their have faith in by growing our localized help types, deepening our Managed Security Companies offerings and furthering our platform development to generate incremental automation, effectiveness and security ROI.”
Apax plans to partner with HG’s administration workforce to speed up intercontinental expansion efforts and advance the “HG Identity” and “HG SOAR” proprietary platforms.
“We are psyched to companion with Robert and [his] group as we search to drive the business forward, investing in continued merchandise innovation and advancement acceleration while maintaining the company’s amount one particular precedence: shopper centricity,” claimed Apax lover Rohan Haldea.
No financial phrases of the deal have been disclosed. Dentons US LLP is serving as legal counsel to Herjavec Team, and Kirkland & Ellis LLP is serving as lawful counsel to Apax.
The proposed acquisition follows Apax Funds’ prior investments in Sophos and in Coalfire, a cybersecurity advisory business acquired by the Apax Funds in 2019.
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