BC Partners has agreed to sell a majority stake in NAVEX to a consortium led by Goldman Sachs Alternatives, with Blackstone also joining as a minority investor.
The deal sees Goldman Sachs’s private equity arm take a controlling interest in the global risk and compliance software firm. Blackstone will hold a significant minority stake, while BC Partners will retain a notable share.
Existing shareholder Vista Equity Partners will fully exit its investment. Financial terms of the transaction have not been disclosed, and the deal is expected to complete later this year, subject to regulatory approval.
NAVEX, a leading software-as-a-service provider for ethics, risk and compliance management, has significantly expanded its global footprint under BC Partners’ ownership since 2018. The company offers a 360-degree view of enterprise, third party and ecosystem risk for enhanced regulatory compliance and proactive risk management.
F. Mark Fariborz, partner and co-head of technology at BC Partners, said, “Today, NAVEX is the global leader in ethics, risk and compliance management software, and we are proud of the success we’ve achieved in partnership with management. Together, we launched NAVEX One, the industry’s leading integrated risk and compliance platform, expanded across Europe and North America, and executed several strategic acquisitions. We look forward to partnering with Goldman Sachs Alternatives and Blackstone to support the business in its next phase of growth”.
NAVEX CEO Andrew Bates added, “BC Partners has been an exceptional partner, helping us scale our platform, grow internationally, and expand our product capabilities. We are excited to join forces with Goldman Sachs Alternatives and Blackstone, whose reach and sector expertise will be invaluable as we continue to innovate and serve risk and compliance departments globally.”
Harsh Nanda, partner and head of technology private equity at Goldman Sachs Alternatives, said, “Goldman Sachs Alternatives is excited to enter into this new partnership with NAVEX. We would also like to thank BC Partners and Vista for their great stewardship over the past several years and we look forward to working closely with Blackstone and BC Partners in the Company’s next chapter ahead.”
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