Sverica has completed the sale of its majority stake in Accuvant to Blackstone. No financial terms were disclosed. As a result of the transaction, Sverica will retain a minority stake in Accuvant and remain on its board of directors. Headquartered in Denver, Accuvant is a provider of information security solutions.
DENVER–(BUSINESS WIRE)–Sverica International Management LLC (“Sverica”), a private equity investment firm, announced today it closed on its sale of a majority stake in Accuvant, Inc. (“Accuvant”) to Blackstone (NYSE: BX) (“Blackstone”). Based in Denver, Colorado, Accuvant is a leading provider of information security solutions and services to enterprise-class organizations. Sverica will retain a minority interest in the business and remain active on the Board of Directors.
Sverica acquired a majority interest in Accuvant in July 2008. Over the course of its investment, Sverica optimized the organizational structure of the business, added depth to the management team, enhanced strategic focus on Accuvant’s Managed Security Services business, and assisted management in successfully navigating the company through an extended period of rapid growth.
“We are thrilled to have been partners with Accuvant management since 2008 during a massive phase of growth for the company,” said Frank Young, Managing Director at Sverica. “Accuvant has now reached a size and scale where we feel it is the right time to explore adding another financial partner, and Blackstone is the ideal fit, given their depth of knowledge in security. We look forward to partnering with them and continuing to work with Dan Burns and his team for the next phase of growth.”
“Sverica has been a fantastic partner for Accuvant. Their strategic input has been invaluable to our success. The company wouldn’t be where it is today without their board level oversight and involvement,” said Dan Burns, Accuvant Co-Founder and Chief Executive Officer. “I am pleased they will remain involved and provide board continuity as we seek to accelerate our pace of innovation and expansion through the Blackstone investment.”
Accuvant is a leading provider of comprehensive information security solutions and services to enterprise-class organizations. Accuvant helps businesses, governments, and educational institutions successfully plan, build, and operate their security systems and programs effectively. Accuvant’s mission is to maximize value for clients, partners, employees, and shareholders through an unrivaled passion for information security. Accuvant has served over 5,500 clients since its founding in 2002, including more than half of the Fortune 100 and nearly half of the Fortune 500. For more information, visit www.accuvant.com.
About Sverica International
Sverica International is a leading private equity firm that has raised over $425 million of investment capital. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993 Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, visit www.sverica.com.