Harris Williams Advises Cority on its Pending New Growth Investment with Thoma Bravo as Majority Investor
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is advising Cority on its pending new growth investment with Thoma Bravo, LLC (Thoma Bravo) as majority investor. Previous majority investor Norwest Venture Partners (NVP) will continue to retain a significant stake in the business and will re-invest over half of its proceeds. Cority is an industry leading environmental, health, safety and quality (EHSQ) software provider offering a unified, true SaaS platform for global, enterprise clients. The transaction, led by Mike Wilkins, Erik Szyndlar, Brian Titterington and Gunnar Shaw of Harris Williams’ Technology, Media & Telecom (TMT) Group, extends the firm’s track record in the software sector.
“Cority’s multi-tenant, true SaaS platform and award winning solutions spanning all aspects of EHSQ provide immense value to its enterprise clients,” said Mike Wilkins, a managing director at Harris Williams. “The new growth investment from Thoma Bravo will help Cority to greatly deepen and broaden its solutions. We are excited about the opportunity ahead for the business.”
“Under the leadership of CEO Mark Wallace and with the backing of NVP, Cority has become a clear market leader within the EHSQ software market,” added Erik Szyndlar, a director at Harris Williams. “We are proud to have worked with an exceptional management team on this transaction and are excited to see Cority continue to grow and innovate to drive additional value to its customer base.”
Cority is a highly trusted EHSQ software for assuring client success. Cority enables organizations to utilize EHSQ software to advance their journey to sustainability and operational excellence by combining deep domain expertise with a comprehensive and secure true SaaS platform. With more than 30 years of innovation and experience, Cority’s team of over 350 experts serve over 800 clients in 100 countries, supporting 2.5 million end users.
NVP is a premier multi-stage investment firm managing more than $7.5 billion in capital. Since its inception, the firm has invested in more than 600 companies and partnered with over 140 active companies across its venture and growth equity portfolio. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise and healthcare. NVP offers a deep network of connections, operating experience and a wide range of impactful services to help CEOs and founders scale their businesses.
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $30 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Frontline Education, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riskonnect, PEC, SailPoint, SolarWinds, Sparta Systems, TravelClick and Veracode. The firm has offices in San Francisco and Chicago.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education technology, data analytics, energy technology, fintech, public sector, and supply chain/logistics—with a dedicated healthcare technology (HCIT) practice. Across verticals, the firm also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: firstname.lastname@example.org). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.