Vector Solutions Announces Completion of Acquisition by Genstar Capital and Insight Partners
TAMPA, FL and SAN FRANCISCO, CA – July 1, 2021 – Vector Solutions, a leading provider of industry-focused software solutions for training, risk management, workforce management and operational readiness, today announced the completion of the company’s previously announced acquisition by Genstar Capital. The transaction includes an investment from Insight Partners, a leading global venture capital and private equity firm investing in high-growth technology companies. Genstar and Insight acquired a majority stake in Vector from Golden Gate Capital, a leading private equity investment firm, which remains a significant shareholder in the business.
Founded in 1999, Vector Solutions offers SaaS solutions that connect information and technology to deliver insights and knowledge when and where they are needed. Their innovative products help organizations achieve better outcomes and safeguard lives in many of the world’s most critical industries, including engineering and construction, industrial manufacturing, K-12 and higher education, and public safety. CEO Marc Scheipe and the current management team will continue to lead Vector, which will remain headquartered in Tampa, FL.
“Vector’s mission to serve everyday heroes is strengthened by support and backing from leading firms like Genstar, Golden Gate Capital and Insight Partners,” said Marc Scheipe, CEO of Vector. “This transaction is not only incredible validation of the strong company we have built, but it allows us to continue on our strategic path to deliver intelligent software solutions, unlock data for actionable insights, and expand the positive impact our solutions have on our markets and the communities they serve.”
“We are impressed by the dynamic company that Vector has built,” said Deven Parekh, Managing Director at Insight Partners. “As companies and institutions look to enhance the safety and performance of their workforces in today’s complex environments, Vector is well-positioned to continue to innovate, meet the market needs in new ways, and drive substantial growth.”
Berenson & Company and Stifel served as financial advisors and Willkie Farr & Gallagher LLP served as legal advisor to Insight Partners.
About Vector Solutions
Vector Solutions is the leading provider of award-winning, intelligent SaaS solutions that help organizations and individuals operate at the highest level and prepare for more challenging workplaces and environments. Providing industry-focused solutions that connect information and technology, its unique product set includes training management, continuing education (CE), compliance training, workforce scheduling, safety management, and more. Its extensive online and mobile training library features carefully curated world-class content to meet the unique needs of professionals in the industrial, engineering, education, and public safety industries. Reaching approximately 22 million users and more than 21 thousand clients worldwide, Vector’s mission is to serve everyday heroes by delivering intelligent software solutions that empower them to make safer, smarter, better decisions. The company was founded in 1999 and is headquartered in Tampa, Florida. For more information, visit www.vectorsolutions.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Together with Genstar X and all active funds, Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable software investments sponsored by Golden Gate Capital include Infor, BMC Software, LiveVox, and 2020 Technologies. For more information, visit www.goldengatecap.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has cumulatively invested in more than 400 companies worldwide through a series of funds representing more than $30 Billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. For more information on Insight and all its investments, visit www.insightpartners.com
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