Comply365 and Vistair Announce Merger and Strategic Growth Investment from Insight Partners and Liberty Hall Capital Partners

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Jan 08, 2024, 07:00 ET

Creates leading global provider of compliance, safety and data intelligence technologies serving the aviation, defense and rail industries

BELOIT, Wis. and BRISTOL, England, Jan. 8, 2024 /PRNewswire/ -- Comply365, LLC ("Comply365") and Vistair Limited ("Vistair") today announced completion of a merger to create a leading global provider of compliance, safety and data intelligence technologies serving the aviation, defense and rail industries with over 120 customers located in over thirty countries on six continents. Rob Morgan, current Chief Executive Officer of Vistair, has been appointed Chief Executive Officer of the combined company and Tom Samuel, current Chief Executive Officer of Comply365, has been appointed Vice Chairman of the combined company's board of directors and will lead the integration of the two businesses. Terms of the transaction were not announced.

In connection with the merger, Insight Partners, a global software investor, has joined Liberty Hall Capital Partners ("Liberty Hall"), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry and Comply365's current controlling shareholder, as an equal investor in the combined business. The two private equity firms' investment provides the combined company the capital to accelerate product differentiation and new product development into cutting-edge, mission-critical products supporting aviation, defense and rail technologies – with a vision of superior compliance and safety innovation for the benefit of its customers.

"This merger comes as the result of a shared vision to enhance our product and service capabilities, accelerate innovation and deliver unparalleled value to our customers in the aviation, defense and rail sectors," said Rob Morgan, CEO. "I look forward to working with Tom and the team to build on our successes to date and ensuring our customers remain at the heart of everything we do."

Tom Samuel, Vice Chairman said, "I am thrilled to join Rob in leading the company. This combination provides us significantly more resources to invest in our mission-critical solutions, better serve our global customers and accelerate technology transformation across the aviation, defense and rail sectors."

"We are confident in the immense potential created from the merger of Comply365 and Vistair," said Henry Frankievich, Managing Director at Insight Partners. "The companies' complementary solutions bring a powerful offering to the market for the benefit of the entire aviation ecosystem. We are excited to join forces with our partners at Liberty Hall to bolster and support ongoing product investment and growth."

James Black, Principal at Liberty Hall, added, "We have very much enjoyed our partnership with Tom Samuel and the Comply365 team over the past three years and look forward to this next exciting chapter in the company's journey. As Comply365 and Vistair come together, we look forward to working with Rob, Tom and our partners at Insight to support the combined company's next phase of growth, which will combine the strengths and expertise of both organizations to deliver even greater value to our collective customers."

Lincoln International served as financial advisor to Comply365 and Harris Williams and Lincoln International served as financial advisors to Insight Partners and Liberty Hall. Legal advice to Comply365 and Liberty Hall was provided by Gibson Dunn & Crutcher and legal advice to Insight Partners was provided by Willkie Farr & Gallagher.

Houlihan Lokey served as financial advisor to Vistair. Legal advice was provided by Osborne Clarke.

About Comply365

Comply365 is a leading provider of enterprise SaaS and mobile solutions for content management and document distribution in highly regulated industries, including aviation and rail. Comply365 supports the world's most mobile and remote workforces with targeted and personalized delivery of job-critical data that enables safe, efficient, and compliant operations. Every day, hundreds of thousands of pilots, flight attendants, maintenance technicians, rail conductors and engineers rely on Comply365 for digital delivery of operational (OEM and company) manuals. Having played an instrumental role in the FAA's approval of replacing the traditional, paper-based, pilot flight bags with electronic flight bags (EFBs), Comply365 partners with clients to transform their industries. For more information, please visit www.comply365.com.

About Vistair Limited
Vistair is one of the world's leading providers of Operational Data Management for aviation technical publications, safety and regulatory content. Vistair is focused on driving market-leading innovation that simplifies the complex Flight Operations, Engineering, Safety and Compliance eco-system across the aviation industry and the defence sector. Our technology leads the way in the digital transformation of safety, efficiency, and compliance, driving higher standards across the industry. It is trusted by many of the most progressive aviation and defence organisations worldwide. For more information, please visit www.vistair.com.

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on X @insightpartners.

About Liberty Hall Capital Partners
Liberty Hall Capital Partners is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry. Liberty Hall's principals have a 25-plus year history of working together and have led the investment of over $2.5 billion in equity capital in over 25 businesses serving multiple segments of the aerospace and defense industry. Liberty Hall was founded in July 2011 as the first, and remains the only, private equity firm focused solely on investments in middle market businesses serving the aerospace and defense industry. Liberty Hall executes a proven and repeatable investment strategy designed to transform middle market businesses into larger, more capable and diverse strategic assets. For more information, please visit http://www.libertyhallcapital.com.

SOURCE Insight Partners