London-based private equity giant Hg has agreed to acquire AuditBoard, a cloud-based platform for audit, risk, compliance and ESG management, in a transaction valued at over $3bn including debt.
The acquisition is being led by Hg’s San Francisco-based office, which opened in 2022.
AuditBoard was founded in 2014 and serves more than 2,000 enterprises, including nearly 50% of the Fortune 500, according to a press statement. The California-based company reached $200m in annual recurring revenue late last year.
Scott Arnold, CEO of AuditBoard, described the acquisition as “further validation of our practitioner-first focus”.
Alan Cline, Head of North America at Hg, added that AuditBoard was “exactly the type of business we partner best with – one that truly knows its customers and innovates to bring them the best possible products”.
Goldman Sachs & Co and Cooley are advising AuditBoard.
Source: Private Equity Wire
Can’t stop reading? Read more
Victory Capital raises $8.6bn Janus Henderson bid as Trian and General Catalyst deal faces challenge
Victory Capital raises $8.6bn Janus Henderson bid as Trian and General Catalyst deal faces...
TPG forms One Aged Care to capture ageing care demand in Singapore and Malaysia
TPG forms One Aged Care to capture ageing care demand in Singapore and Malaysia TPG has launched a...
Advent and Cinven explore €25bn exit of TK Elevator as Kone enters takeover talks
Advent and Cinven explore €25bn exit of TK Elevator as Kone enters takeover talks Advent and...