HW Compliance Technology Introduction

Harris Williams (“HW”)

  • 25+ years and more than 1,000 closed transactions
  • 350+ professionals across eight office globally
  • 170+ closed transactions in the last 24 months
  • 10 industry groups

Focused Advisory Services

  • Mergers and acquisitions (M&A)
  • Capital raises
  • Corporate divestitures

Consistent Recognition for Quality


HW Technology, Media & Telecom (“TMT”) Group

  • 35+ dedicated TMT professionals
  • TMT offices include Boston, San Francisco, and London

Key TMT Themes

  • SaaS / Cloud
  • Data & Analytics
  • Digital Transformation
  • A.I. / Machine Learning

Horizontal Focus Sectors

  • Application Software
  • Cloud Managed Services and Hosting Solutions
  • Compliance Solutions
  • CRM and Marketing Automation
  • Human Capital Management
  • Infrastructure and Security Software
  • IT and Tech-Enabled Services
  • Marketing, Research, and Insights Software

Vertical Focus Sectors

  • Architecture, Engineering, and Construction Software
  • Education Technology and Services
  • Energy Technology
  • Facilities and Real Estate Software
  • Financial Technology and Payments
  • Government Technology
  • Healthcare IT
  • Industrial and Supply Chain Technology
  • Internet and eCommerce
  • Retail Technology


HW Current Market Observations and Insights

HW Quick Takes: Compliance Software

screen_shot_2020-10-23_at_11.58.29_am.pngFor access to HW’s Quick Takes: Compliance Software: A Compelling Investment in Today’s Climate link.

TMT Roundtable: M&A Insights and Outlook

A conversation with global leaders in private equity. For access please visit link.


Latest HW Market Insights

For access to HW’s latest insights and perspective, email us at insights@harriswilliams.com or visit www.harriswilliams.com/news-insights.

Recent Publications:


Deep Sector Expertise Across Key TMT Focus Areas

  • Architecture, Engineering, and Construction
  • Education Technology and Services
  • Financial Technology and Payments
  • Healthcare IT
  • Industrial and Supply Chain Technology
  • …and more

For access to HW’s TMT content, email us at TMT_Insights@harriswilliams.com.

Compliance Technology Focus Areas

Corporate Risk & Compliance

Solutions that provide a comprehensive method to effectively manage and execute an organization’s governance, risk, and compliance strategies

  • Integrated Risk Management
  • Corporate Compliance & Oversight
  • Labor Compliance
  • Vendor Risk Management 
  • Operational Risk Management 
  • Audit Management 
  • Compliance Training 
  • Business Continuity

Select Market Participants


  • Corporate Risk and Compliance solutions manage the ever-increasing complexities and inherent risks that confront organizations today
  • Business and regulatory complexity coupled with a desire for more efficient risk management is driving demand for software-centric solutions

Environmental, Health, Safety, & Quality

Solutions that track and manage an organization’s environmental, health, safety, and quality initiatives

  • Environmental Sustainability Management
  • Quality Control Software 
  • Safety Management & Reporting
  • Workforce Health & Safety 
  • Workplace Verification 
  • Safety Learning & Traning 
  • Learning Management Systems
  • Sustainability

Select Market Participants


  • EHSQ solutions are utilized to manage the aspects of business operations related to environmental impact, worker health and safety, and product quality
  • EHSQ programs are in high demand to both mitigate operational risks and drive business process efficiency and transparency

Recent Compliance Technology Transactions2


CGE Partners Acquires Enhesa

  • Enhesa is a provider of EHS regulatory content covering more than 290 jurisdictions, with offices in the US, Europe, Canada, China, and Japan
  • Enhesa operates in a fragmented market with ample whitespace, enabling both rapid organic and inorganic growth
  • CGE Partners will seek additional add-on investments, allowing it to put more capital to work while also strengthening the market position and capability suite of Enhesa


EcoOnline Acquires Airsweb

  • Airsweb is a leading EHS software solutions provider in the United Kingdom
  • Airsweb solution is known for its simplicity and configurability and is used by 90 large enterprise clients and 500,000 users globally
  • By adding Airsweb’s solution to its existing EHSQ and chemical management solutions, EcoOnline gains additional capabilities while also expanding its presence in the UK


Veriforce Acquires Complyworks

  • Complyworks is Canada’s leading third-party workforce compliance management software and solution
  • By adding ComplyWorks, Veriforce broadens its base of operators, contractors, and workers, positioning the combined company as a dominant player in the global supply chain risk management sector

HW served as the sole financial advisor to Veriforce


Pamlico Invests in Fastpath

  • Fastpath is a leading provider of governance, risk, and compliance (GRC) software solutions
  • Fastpath’s flagship product, Assure, is a cloud-based platform that enables corporate compliance, finance, and IT departments to monitor and audit user access across their enterprises
  • Benefiting from increasing demand for cloud-based software, Fastpath has already achieved record growth; the investment from Pamlico will accelerate Fastpath’s sales and marketing efforts, as well as its product development


Symplr Acquires ComplyTrack

  • ComplyTrack provides a risk and compliance software platform that encompasses issue and action management, incident management, contract and document management, and audit management SaaS solutions
  • The combination of symplr and ComplyTrack expands the healthcare industry's leading end-to-end GRC platform by bolstering symplr's existing provider quality and patient safety software solutions
  • Growth through acquisition, coupled with innovation, is an integral part of symplr's business strategy to deliver the industry's leading healthcare GRC SaaS platform

Compliance Technology Evolving Paradigms3

The GRC and EHSQ Software landscape is evolving to address the increasing demand for a comprehensive integrated risk management solution


  • Minimizing risk, maintaining data integrity, and adhering to regulatory reporting requirements drive businesses to find holistic and integrated solutions, preferably from a single vendor
  • Compliance is a daily requirement of businesses, and the near constant communication between employees, customers, suppliers, vendors, and other stakeholders requires solutions that are comprehensive and flexible in order to meet changing requirements


Blending Market Landscape

  • The market landscape is highly fragmented, with companies addressing multiple business needs that cross over different product segments
  • A comprehensive risk management solution is increasingly a strategic imperative and is catalyzing a convergence of technology, learning, and content


  • Controlling risk is a central theme, whether it’s regulatory, financial, personnel, environmental, or safety related; customers desire holistic solutions that can address all of these
  • Best-in-class technology solutions provide the platform on which to grow regardless of the size of that specific market

Corporate Risk & Compliance Technology - Landscape

Representative Providers



EHSQ Technology - Landscape

Representative Providers



Vertically Focused Compliance Technology Companies - Landscape

Representative Providers




Public Compliance Technology Companies4


Note: “NM” represents EV / EBITDA multiples greater than 50x and Price/Earning multiples greater than 75x.

Compliance Technology – Transaction Activity


Select Recent Private Placements4


Case Study: ComplyWorks

HW’s TMT Group advised Veriforce, a portfolio company of Thoma Bravo, on its acquisition of ComplyWorks.

screen_shot_2020-10-23_at_12.27.29_pm.pngTransaction Overview

Veriforce is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions that help bring workers home safely and optimize business performance. The company’s SaaS safety and compliance software and solutions empower leading organizations to drive safety and compliance into their supply chains and down to the worker level.

The acquisition of ComplyWorks is an important milestone for Veriforce as it strengthens its commitment to helping companies navigate complex safety and regulatory environments to better protect their supply chains. The combined company creates a global platform of technology and services, empowering more than 800 companies in 120 countries to engage an estimated 50,000 contractors and millions of individual workers in a broad spectrum of risk mitigation practices designed to ensure safe, compliant business operations.

ComplyWorks is a global leader in compliance management. The company's web-based solutions cover the entire compliance life cycle from contractor management to workforce management, worksite management, and payment.

Relevant Subsectors

  • Supply Chain Risk
  • EHSQ
  • Energy

1. Wall Street Journal

2. MergerMarket

3. Grand View Research

4. Capital IQ