Thoma Bravo Successfully Concludes the Sale of Veriforce to Apax Partners
On December 2, 2024, Thoma Bravo, a renowned leader in software investments, declared the completion of its sale of a controlling interest in Veriforce to funds directed by Apax Partners LLP. While the financial specifics of the deal were not revealed, this transition highlights a significant shift in the supply chain risk management (SCRM) sector.
Veriforce has earned its spot as one of the globe's largest entities providing integrated SCRM solutions. With operational hubs located in the United States, Canada, and the United Kingdom, the company focuses on confirming the services rendered by contractors to their hiring organizations, ensuring compliance, and enhancing safety throughout the supply chain process.
During its five-year tenure under Thoma Bravo’s ownership, Veriforce experienced remarkable growth, driven by both organic initiatives and strategic mergers and acquisitions. The company saw an impressive sixfold increase in its revenue and expanded its platform to serve various sectors across different regions. Presently, Veriforce operates in over 140 countries, boasting a client base of more than 1,300 and supporting over 90,000 contractors globally.
Colby Lane, the CEO of Veriforce, expressed gratitude towards Thoma Bravo, stating, "Thoma Bravo has been an invaluable partner over the years, helping to drive our product and market expansion and transform Veriforce into a truly global player in the SCRM space. Most importantly, our work together has strengthened our mission of ensuring every worker gets home safely, a principle that guides everything we do." Lane credited the strategic insight and industry expertise of Thoma Bravo for Veriforce's position as a category leader poised for future successes.
In reflecting on this successful collaboration, Hudson Smith, a Partner at Thoma Bravo, remarked, "Thoma Bravo is proud to have aided in guiding Veriforce's strategic evolution over the past five years. Working closely with Colby and his team, we transformed a company with a modest portfolio focused on a single industry into a global leader offering over ten products that cater to a wide range of industries." Smith emphasized how their investment in the VeriforceOne platform equipped the company for long-term success, enabling customers to manage supply chains both efficiently and effectively.
Furthermore, George Jaber, a Principal at Thoma Bravo, noted the fruitful collaboration over the years to deliver top-tier features for clients, stating, "It is incredible to see the outcome of a thoughtful organic and inorganic growth strategy, which has more than come to life in Veriforce's platform and market leadership today."
As one of the largest investors focused on software worldwide, Thoma Bravo oversees assets exceeding US$166 billion as of September 30, 2024. Through strategies in private equity, growth equity, and credit, the firm invests in innovative companies in the software and technology sectors, employing its deep sector knowledge to spur growth and operational excellence within its portfolio. To date, Thoma Bravo has acquired or invested in more than 500 companies, representing approximately US$265 billion in enterprise value. Their offices are situated across major cities including Chicago, Dallas, London, Miami, New York, and San Francisco.
Veriforce is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions designed to keep workers safe. Their products empower leading organizations worldwide to enforce safety and compliance across contractor supply chains, impacting millions of individual workers while serving an extensive network of clients and contractors. For further details, visit Veriforce's official website at veriforce.com.
This strategic sale not only exemplifies Thoma Bravo's commitment to fostering growth in technology firms but also marks a significant evolution for Veriforce as it embarks on a new journey under the guidance of Apax Partners.
Veriforce has earned its spot as one of the globe's largest entities providing integrated SCRM solutions. With operational hubs located in the United States, Canada, and the United Kingdom, the company focuses on confirming the services rendered by contractors to their hiring organizations, ensuring compliance, and enhancing safety throughout the supply chain process.
During its five-year tenure under Thoma Bravo’s ownership, Veriforce experienced remarkable growth, driven by both organic initiatives and strategic mergers and acquisitions. The company saw an impressive sixfold increase in its revenue and expanded its platform to serve various sectors across different regions. Presently, Veriforce operates in over 140 countries, boasting a client base of more than 1,300 and supporting over 90,000 contractors globally.
Colby Lane, the CEO of Veriforce, expressed gratitude towards Thoma Bravo, stating, "Thoma Bravo has been an invaluable partner over the years, helping to drive our product and market expansion and transform Veriforce into a truly global player in the SCRM space. Most importantly, our work together has strengthened our mission of ensuring every worker gets home safely, a principle that guides everything we do." Lane credited the strategic insight and industry expertise of Thoma Bravo for Veriforce's position as a category leader poised for future successes.
In reflecting on this successful collaboration, Hudson Smith, a Partner at Thoma Bravo, remarked, "Thoma Bravo is proud to have aided in guiding Veriforce's strategic evolution over the past five years. Working closely with Colby and his team, we transformed a company with a modest portfolio focused on a single industry into a global leader offering over ten products that cater to a wide range of industries." Smith emphasized how their investment in the VeriforceOne platform equipped the company for long-term success, enabling customers to manage supply chains both efficiently and effectively.
Furthermore, George Jaber, a Principal at Thoma Bravo, noted the fruitful collaboration over the years to deliver top-tier features for clients, stating, "It is incredible to see the outcome of a thoughtful organic and inorganic growth strategy, which has more than come to life in Veriforce's platform and market leadership today."
About Thoma Bravo
As one of the largest investors focused on software worldwide, Thoma Bravo oversees assets exceeding US$166 billion as of September 30, 2024. Through strategies in private equity, growth equity, and credit, the firm invests in innovative companies in the software and technology sectors, employing its deep sector knowledge to spur growth and operational excellence within its portfolio. To date, Thoma Bravo has acquired or invested in more than 500 companies, representing approximately US$265 billion in enterprise value. Their offices are situated across major cities including Chicago, Dallas, London, Miami, New York, and San Francisco.
About Veriforce
Veriforce is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions designed to keep workers safe. Their products empower leading organizations worldwide to enforce safety and compliance across contractor supply chains, impacting millions of individual workers while serving an extensive network of clients and contractors. For further details, visit Veriforce's official website at veriforce.com.
This strategic sale not only exemplifies Thoma Bravo's commitment to fostering growth in technology firms but also marks a significant evolution for Veriforce as it embarks on a new journey under the guidance of Apax Partners.
Topics Business Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.