- Ideagen is a provider of compliance software for regulated industries
- Hg invested in Ideagen in July 2022
- The firm will remain a majority investor in the combined business
Hg-backed Ideagen announced that it has entered into a definitive agreement to buy US health and safety Software-as-a-Service (SaaS) platform ProcessMAP.
Ideagen, acquired by Hg in July, is a UK-based provider of compliance software for regulated industries. The company serves companies across industries including life sciences, banking, finance, insurance and healthcare.
ProcessMAP, based in Sunrise, Florida, provides clients with enterprise-scale SaaS products to aid efficiency and intelligence across health and safety management, risk and claims management and environment and sustainability. Upon completion of the deal, ProcessMAP will become ProcessMAP – an Ideagen solution.
“Both Ideagen and ProcessMAP are high quality businesses, with complementary product suites and diversified regional cover across Europe, North America and APAC,” said Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, partners at Hg. “Together the business will be better positioned to serve its customers and take advantage of the numerous tailwinds in regulation, compliance and ESG. We are looking forward to further expansion in the coming months.”
The deal represents Nottinghamshire-based Ideagen’s second acquisition of 2022. Ideagen’s first acquisition of the year was Mail Manager which the firm acquired in February. Mail Manager is a London-headquartered email management provider. The acquisition was made prior to Hg’s investment in Ideagen in July which was covered by PE Hub Europe.
Hg targets technology buyouts primarily in Europe and the US. It has over $40 billion in funds under management with nearly 300 employees across London, Munich and New York.