BeyondTrust Completes Transaction with Clearlake Capital and Francisco Partners
BeyondTrust , a worldwide leader in privileged access management (PAM), announced that Clearlake Capital Group, L.P., a sector focused investment firm operating integrated businesses across private equity, credit and other related strategies, has closed its investment in the Company.
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Clearlake joins existing investor Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, which acquired BeyondTrust in 2018 and has helped the Company expand its product offerings and extend its global reach. The financial support and resources from institutional shareholders Francisco Partners and Clearlake will enable BeyondTrust to increase its investment in innovation, accelerate its organic growth and continue executing on its targeted acquisition strategy.
Recently recognized as a Leader in the 2021 Gartner Magic Quadrant for Privileged Access Management(1) for the third year in a row, BeyondTrust offers a seamless approach to preventing data breaches related to stolen credentials, misused privileges and compromised remote access. The Company currently serves more than 20,000 customers, including 70% of the Fortune 500, and a marquee list of blue-chip companies around the world. BeyondTrust continued its rapid growth in 2021 adding approximately 750 new customers, renewing more than 90% of current customers, and achieving an industry-leading Net Promoter Score (NPS) of 47.
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“We are excited about the opportunities ahead for BeyondTrust as we continue to expand our market-leading business in pursuit of our mission to revolutionize privileged access management,” said Matt Dircks, CEO of BeyondTrust. “The investments from Francisco Partners and Clearlake not only enable us to accelerate the rapid growth in our cloud solutions and recurring revenue, but also position us well to speed up innovation across our platform and product portfolio. We look forward to partnering together on this next chapter in our growth story.”
J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, and Jefferies LLC served as financial advisors, and Kirkland & Ellis served as legal counsel, to BeyondTrust and Francisco Partners. Sidley Austin served as legal counsel to Clearlake.
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