Partners Group to take minority stake in SaaS platform VelocityEHS

• Following the transaction, Partners Group will join CVC Growth on the VelocityEHS board
• CVC Growth acquired VelocityEHS in 2017
• Partners Group was advised by Ropes & Gray LLP and Price WaterhouseCoopers LLP

Partners Group has agreed to acquire a significant minority stake in Chicago-based VelocityEHS, an environmental, health, and safety and environmental, social and governance software platform. The seller is CVC Growth Funds. No financial terms were disclosed.

Following the transaction, Partners Group will join CVC Growth on the VelocityEHS board.

Founded in 1996, VelocityEHS is a Software-as-a-Service platform offering products that help customers comply with a wide range of EHS laws and regulations, manage and reduce risk, and improve operational efficiency.

CVC Growth acquired VelocityEHS in 2017.

Following the investment, Partners Group and CVC Growth will work with VelocityEHS’ management team to continue to drive growth at VelocityEHS and cement its position as a leading player in the EHS and ESG software market worldwide.

On the deal, Chris Russell, managing director, private equity, technology industry vertical, Partners Group, said in a statement: “Our thematic research identified EHS as an attractive sub-sector of the US software market due to its large size, strong secular growth trends, and fragmented landscape. VelocityEHS is a market-leading SaaS platform in this space, with a comprehensive product portfolio, and we have strong conviction in its future prospects. We look forward to working with management and our partners at CVC on scaling VelocityEHS further and executing on the value creation plan.”

Partners Group was advised by Ropes & Gray LLP and Price WaterhouseCoopers LLP; CVC Growth by Weil, Gotshal & Manges LLP and William Blair; and VelocityEHS by Burns & Levinson, LLP.

Since 1996, Partners Group has invested $185 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group has $131 billion in assets under management as of 30 June 2022.

The firm employs more than 1,600 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland, Denver and Singapore.

CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately €125 billion of assets under management. Since its founding in 1981, CVC has secured commitments in excess of €163 billion from some of the world’s leading institutional investors across its private equity and credit strategies.

Launched in 2014, CVC Growth is the growth-oriented middle-market technology investment arm of CVC Capital Partners. CVC Growth primarily targets equity investments between $50 million and $250 million in North America and Europe and manages over $3 billion in assets across two dedicated funds.