Charlesbank Capital Partners Makes a Strategic Investment in Ivanti to Partner With Clearlake Capital and TA Associates to Accelerate Growth
Ivanti announced that Charlesbank Capital Partners has signed a definitive agreement to invest in the company, joining existing investors Clearlake Capital and TA Associates. While the transaction details remain undisclosed, this strategic partnership aims to strengthen Ivanti's position in IT automation and security. Ivanti has completed significant acquisitions, enhancing its product offerings. The management team, led by CEO Jim Schaper, will continue to drive growth and innovation in the company. The investment is set to close in Q2 2021, pending regulatory approvals.
- Strategic investment by Charlesbank expected to enhance Ivanti's financial strength and market position.
- Recent acquisitions of MobileIron and Pulse Secure have significantly expanded Ivanti's product portfolio and market reach.
- Ivanti's software solutions serve over 40,000 customers globally, indicating strong market demand.
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Ivanti, Inc. (“Ivanti”), the automation platform that makes every IT connection smarter and more secure across devices, infrastructure and people, today announced that Charlesbank Capital Partners, LLC (“Charlesbank”) has signed a definitive agreement to make a strategic investment in the company. Charlesbank, a leading private investment firm managing more than
Ivanti provides solutions that automate IT and security operations, enabling customers to discover, manage, secure and service their IT infrastructure from cloud environments to edge devices. Ivanti’s software is utilized by over 40,000 customers across various industries and five continents, and its solutions allow administrators to discover IT assets on-premises, in the cloud and at the edge; improve IT service delivery; and reduce risk with insights and automation.
In the past six months, Ivanti completed two transformative acquisitions of MobileIron and Pulse Secure, strengthening its Unified Endpoint Management (UEM) and Zero Trust Security solutions, and announced the planned acquisition of Cherwell Software, enhancing its IT Service Management (ITSM) and workflow automation offerings. The recent strategic acquisitions meaningfully increased Ivanti’s scale and addressable market while strengthening its product portfolio. The additional capital from Charlesbank will enable Ivanti to extend its market-leading position further through product innovation and acquisitions. Ivanti will continue to be led by CEO and Chairman Jim Schaper and the current management team.
“Through our partnership with Clearlake and TA, Ivanti has significantly scaled the business, accelerated revenue growth and strengthened relationships with an expanding customer base,” said Mr. Schaper. “We are excited to welcome Charlesbank, an organization that shares both our values and our commitment to serving our customers and helping them solve their business challenges, as we continue innovating and delivering world-class solutions to enable the everywhere workplace. The unique combination of Clearlake, TA and now Charlesbank provides Ivanti with the expertise and capital to accelerate organic growth complemented with continued strategic acquisitions.”
“Ivanti is extraordinarily well-positioned to provide solutions that enable organizations to collaborate and innovate freely,” said Hiren Mankodi and Ryan Carroll, Managing Directors at Charlesbank. “We were attracted to the company’s leadership track record, vision and growth, as well as the value that has been created through recent acquisitions and strategic operational initiatives. We look forward to partnering with Clearlake, TA and the talented management team at Ivanti on the next chapter for this exciting company.”
Behdad Eghbali, Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake, commented, "Since our initial investment, Ivanti has significantly scaled its revenue, expanded its breadth of solutions and strengthened its position in attractive and rapidly growing markets. With the implementation of our O.P.S.® approach, Ivanti has accelerated its revenue growth through both organic and inorganic initiatives. Charlesbank joining our partnership with TA further supports our original investment thesis and sponsorship of the management team’s best-in-class playbook."
“Since partnering with Ivanti in October 2020 alongside Clearlake, the company has rapidly executed on its growth plan, announcing three strategic acquisitions, successfully driving numerous organic initiatives and more than doubling the business,” said Harry Taylor and Hythem El-Nazer, Managing Directors of TA. “We believe there remains significant opportunity to drive additional innovation and growth given the increasing complexity of IT environments. We are delighted to welcome Charlesbank as a new investment partner and look forward to continuing to support Ivanti in its next phase of growth.”
Charlesbank, Clearlake and TA will have equal representation on the Ivanti Board of Directors. UBS Investment Bank and Citigroup acted as financial advisors for Ivanti. Citigroup and UBS Investment Bank also acted as capital markets advisors for Ivanti. Sidley Austin LLP provided legal counsel for Ivanti, with Ropes and Gray LLP representing Charlesbank. The transaction is expected to close in the second quarter of 2021, pending customary regulatory approvals and closing conditions.
About Ivanti
The Ivanti automation platform makes every IT connection smarter and more secure across devices, infrastructure and people. From PCs and mobile devices to virtual desktop infrastructure and the data center, Ivanti discovers, manages, secures and services IT assets from cloud to edge in the everywhere enterprise -- while delivering personalized employee experiences. In the everywhere enterprise, corporate data flows freely across devices and servers, empowering workers to be productive wherever and however they work. Ivanti is headquartered in Salt Lake City, Utah and has offices all over the world. For more information, visit www.ivanti.com and follow @GoIvanti.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm managing more than
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised
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