Thoma Bravo Completes Sale of Veriforce to Apax Partners

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Dec 02, 2024, 10:00 ET

MIAMI, Dec. 2, 2024 /PRNewswire/ -- Thoma Bravo, a leading software investment firm, today announced the completion of its sale of its controlling stake in Veriforce, a global provider of supply chain risk management ("SCRM") solutions, to funds advised by Apax Partners LLP. Financial terms were not disclosed.

Veriforce is one of the world's largest providers of integrated SCRM solutions with hubs in the U.S., Canada and the UK. Its SCRM solutions focus on verifying the services offered by contractors to hiring clients, allowing organizations to ensure safety and compliance throughout all aspects of their supply chains.

Under Thoma Bravo's five years of ownership, Veriforce achieved tremendous growth through a combination of organic initiatives and strategic M&A, resulting in 6x revenue growth and a market-leading platform serving multiple sectors and geographies. Today, Veriforce operates in more than 140 countries, with over 1,300 clients and more than 90,000 contractors.

"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," said Veriforce CEO Colby Lane. "Most importantly, our work together has strengthened our mission of ensuring every worker gets home safely, a principle that guides everything we do. Thanks to Thoma Bravo's strategic minds and industry expertise, we've become a category leader with strong momentum to capitalize on future opportunities."

Hudson Smith, a Partner at Thoma Bravo, said: "Thoma Bravo is proud to have helped guide Veriforce's strategic evolution over the past five years. Working closely with Colby and his team, we started with a business with two products focused primarily on one industry and transformed it into a global leader with more than ten products spanning a broad range of industries. This growth, combined with our investment in the VeriforceOne platform, has positioned Veriforce for long-term success by enabling customers to manage their supply chains efficiently and effectively."

George Jaber, a Principal at Thoma Bravo, added: "Over the past five years, we've worked with Veriforce to provide customers with best-in-class features to manage their supply chains, and expanded the client and contractor base across all industries and geographies. 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
Thoma Bravo is one of the largest software-focused investors in the world, with over US$166 billion in assets under management as of September 30, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in more than 500 companies representing approximately US$265 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo's website at thomabravo.com.

About Veriforce
Veriforce^®is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions that help bring workers home safely. The company's products and solutions empower leading organizations around the world to drive safety and compliance into their contractor supply chains from enterprise to individual. The Veriforce network includes more than 1,300 clients in over 140 countries, serving over 90,000 contractors, 7,000 authorized instructors and evaluators, and millions of individual workers. For more information, visit veriforce.com.

SOURCE Thoma Bravo