Funds advised by Apax Partners are acquiring a majority stake of Herjavec Group a global Managed Security Services Provider with offices in the US, UK and elsewhere. Founder & CEO, Robert Herjavec, will remain as a significant stakeholder and the firm's Chief Executive Officer. The financial terms of the transaction (which is subject to applicable regulatory approvals) were not disclosed.
Founded in 2003, Herjavec Group has been recognised as one a leading cybersecurity companies by industry analysts including Gartner, Forrester, IDC and MSSP Alert, The Apax Funds, in partnership with HG's management team, will look to build on the company's growth rate by accelerating international expansion efforts, augmenting HG's talented team with additional threat & identity resources, and further advancing the HG Identity and HG SOAR proprietary platforms. The Apax Tech team have a deep understanding of the cyber security market through the Apax Funds' prior investments in Sophos, a world-leader in the space and Coalfire, a cybersecurity advisory business which was acquired by the Apax Funds in 2019.
Robert Herjavec, Founder & CEO of Herjavec Group, said: "I couldn't be more thrilled to welcome the Apax Partners team to Herjavec Group. Over the past seventeen years, HG has remained steadfast in our mission to make enterprises around the world more secure. We have succeeded in that effort by developing an industry-leading 24/7 Managed Security Services practice, by advancing our proprietary IP, by diversifying our offerings to include Advisory, Managed Detection & Response, Identity and Incident Response services, and by hiring what I fundamentally believe is the very best team in the world. This acquisition and the growth funding that results is a testament to our entire team, and to our loyal customer base who has entrusted us with their mission critical assets. I am excited for this next phase in our growth trajectory as we continue to earn their trust by expanding our localized support models, deepening our Managed Security Services offerings and furthering our platform development to drive incremental automation, efficiency and security ROI."
