BC Partners has agreed to recapitalise Navex Global, a provider of governance, risk management and compliance software.
Following the agreement, Vista Equity Partners, which initially acquired NAVEX Global in October of 2014, will retain a minority stake in the company.
BC Partners said it intends to help accelerate NAVEX Global’s expansion into international markets, as well as to broaden its product offering, both organically and through M&A.
Formed in 2012, Navex Global claims its ethics and compliance software platform enables clients to address issues and respond in increasingly complex regulatory environments. The suite is used by 95 of the FORTUNE 100 and boasts more than 13,000 clients.
“This transaction speaks to the tremendous value NAVEX Global has built by providing the best governance, risk management and compliance solutions for our thousands of customers worldwide,” said NAVEX Global CEO Bob Conlin. “We’re thrilled to begin our next chapter with BC Partners, and excited to renew our partnership with Vista, whose enterprise expertise has proved invaluable during the past four years. Both firms understand our value and will offer the tools and resources necessary to help us continue to grow and thrive.”
Facing the scrutiny of multiple governing bodies — including MiFID II, FCA, PRA, EDIS, Basel IV, GDPR, RPD and Brexit – financial services organisations spend substantial resources in mitigating risk and complying with a growing list of regulatory and operational compliance requirements.
Because laws and regulations are constantly in flux, Navex’s aims to educate financial advisors on what has been updated and how it impacts their jobs is ongoing according to its website.
Headquartered in Portland, Oregon, the company provides document management, third party monitoring, report tracking, compliance training and audit trails.
In the financial services space its product is used by commercial banks, credit unions, investment banks, brokerage firms, mortgage brokers, insurance companies and investment firms. Navex’s customers include OCWEN, PNC, Fulton Financial, Equifax and Beazley.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
