Cority Closes New Growth Investment with Thoma Bravo as Majority Investor
Toronto, ON — July 2, 2019—Cority, the trusted provider of environmental, health, safety and quality (EHSQ) software, today announced the completion of an investment from Thoma Bravo, LLC, in which the leading private equity investment firm has become the majority investor in the company. Previous majority investor Norwest Venture Partners has retained a significant stake in the business and re-invested over half of its proceeds as part of the transaction.
Over its 30-year history, Cority has built the only enterprise-grade, unified true SaaS platform spanning all aspects of EHSQ. Today, Cority’s award winning solutions serve over 800 clients worldwide, allowing organizations to gain actionable insights from their data, manage risk and compliance and improve business performance by safeguarding employees, protecting the environment and streamlining complex workflows. The company has continually driven innovation on behalf of its clients, most recently with the introduction of its Quality and Predictive Analytics solutions, and in 2018 announced record levels of growth and investment.
“Cority has risen up the ranks of EHSQ providers because of our relentless focus on client success,” said Mark Wallace, President and CEO of Cority. “Our partnership with Thoma Bravo provides us with the resources and expertise to break new ground in forging the next generation of EHSQ solutions.”
“Cority is a recognized EHSQ leader with best-in-class retention rates and platform capabilities,” said Hudson Smith, a Partner at Thoma Bravo. “The company has incredible growth potential and we plan to further drive innovation through both organic and inorganic growth opportunities. We look forward to partnering with Mark and team to further accelerate the business and create even greater value for Cority employees, customers and partners globally.”
“We would like to thank the amazing team at Cority for their partnership and look forward to continued collaboration going forward,” said Rob Arditi, Norwest General Partner. “Cority has clearly set itself apart as evidenced by its exceptional growth rate, unmatched customer satisfaction and cutting-edge technology.”
Harris Williams served as financial advisor for Cority, and William Blair & Co. served as co-advisor. Goodwin Procter LLP served as legal counsel for Cority. Kirkland & Ellis LLP served as legal counsel for Thoma Bravo. Financing for the transaction was provided by Ares Management Corporation (NYSE: ARES) and Carlyle Global Credit.
Cority is the most trusted environmental, health, safety, and quality (EHSQ) software for assuring client success. Cority enables organizations to utilize EHSQ software to advance their journey to sustainability and operational excellence by combining the deepest domain expertise with the most comprehensive and secure true SaaS platform. With 30+ years of innovation and experience, Cority’s team of over 350 experts serve over 800 clients in 100 countries, supporting 2.5 million end users. The company enjoys the industry’s highest levels of client satisfaction and has received many awards for its strong employee culture and outstanding business performance.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $30 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Frontline Education, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, Motus, Nintex, PowerPlan, Qlik, Riskonnect, SailPoint, SolarWinds, Sparta Systems, TravelClick and Veracode. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.