Genstar Capital has agreed to acquire a majority stake in Vector Solutions, a provider of industry-focused software solutions for training, risk management, workforce management and operational readiness. Existing majority investor Golden Gate Capital will remain a significant shareholder in the business. William Blair advised Golden Gate and Vector on the deal.
SAN FRANCISCO and TAMPA, FL – May 14, 2021 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, announced today an agreement to acquire a majority ownership stake in Vector Solutions (“Vector”), the leading provider of industry-focused software solutions for training, risk management, workforce management and operational readiness. Genstar is acquiring Vector from Golden Gate Capital, a leading private equity investment firm, which will remain a significant shareholder in the business. The transaction is expected to close in the next 45 days.
Vector is the leading provider of intelligent and industry-focused SaaS solutions that connect information and technology to deliver insights and knowledge when and where they are needed. Serving approximately 22 million users and more than 21,000 clients worldwide, Vector uses the latest innovations in training and technology to create safer, more capable and compliant organizations across the industrial, engineering, education and public safety sectors.
“Genstar’s interest in Vector Solutions is a testament to our consistent growth, talented team and the exceptional value of our leading solutions,” said Marc Scheipe, CEO of Vector. “We are excited to have the support of Genstar and Golden Gate Capital as we continue to serve everyday heroes by delivering intelligent software solutions that empower safer, smarter and better decisions.”
“Companies are increasingly demanding sophisticated technology solutions to help their employees rise to the challenges of complex and regulated work environments, and Vector is the clear leader in meeting that need,” said Geoff Miller, Director at Genstar. “We are excited to partner with Marc Scheipe, the Vector leadership team and Golden Gate Capital to invest further in developing new and expanding existing markets both organically and through M&A.”
“We have enjoyed a highly successful partnership with Vector since acquiring the Company in 2018 as it has meaningfully scaled its business, expanded its platform of industry-leading software solutions and successfully evolved its brand,” said Rishi Chandna, a Managing Director at Golden Gate Capital. “We look forward to continuing to support Vector in its next chapter alongside Genstar.”
Matthew Crump, a Principal at Golden Gate Capital, added, “We have tremendous respect for Marc and the impressive Vector management team as they help elevate the safety and success of their clients and the communities they serve. With a strong track record of organic growth and five strategic acquisitions since our investment, we are confident that Vector will continue to be an innovative industry leader.”
Kirkland & Ellis LLP served as legal advisor to Genstar. William Blair & Company, LLC and Baird served as financial advisors to Golden Gate Capital and Vector and Paul, Weiss, Rifkind, Wharton & Garrison LLP, Nob Hill Law Group P.C. and Trenam Law served as legal advisors.
About Vector Solutions
Vector Solutions is the leading provider of award-winning, intelligent SaaS solutions that help organizations and individuals operate at the highest level and prepare for more challenging workplaces and environments. Providing industry-focused solutions that connect information and technology, its unique product set includes training management, continuing education (CE), compliance training, workforce scheduling, safety management, and more. Its extensive online and mobile training library features carefully curated world-class content to meet the unique needs of professionals in the industrial, engineering, education, and public safety industries. Reaching approximately 22 million users and more than 21 thousand clients worldwide, Vector’s mission is to serve everyday heroes by delivering intelligent software solutions that empower them to make safer, smarter, better decisions. The company was founded in 1999 and is headquartered in Tampa, Florida. For more information, visit www.vectorsolutions.com. Follow us on Twitter @VectorPerform and on Facebook at www.facebook.com/VectorPerformance.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Together with Genstar X and all active funds, Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable software investments sponsored by Golden Gate Capital include Infor, BMC Software, LiveVox, and 2020 Technologies. For more information, visit www.goldengatecap.com.