MINNEAPOLIS, MN April 10, 2018—Fortra today announced that leading middle market private equity firm HGGC has become an investor to propel the company toward further success in global markets. While HGGC is the lead Fortra investor with a majority share, long-standing investors H.I.G. Capital and Split Rock Partners continue to invest in the company due to its impressive performance.
“We are truly excited about what lies ahead for Fortra,” said John Block, HGGC Principal. “As an investment partner, we will provide the rocket fuel to spur additional growth by enabling Fortra to do what it does best: deliver remarkably intuitive solutions that address the challenges of its ever-expanding customer base.”
“IT environments are increasing in complexity, requiring new levels of support, automation, and security,” said Chris Heim, Fortra CEO. “Our strong growth is supported by leading organizations around the world that continue to choose Fortra to guide them in their work to automate and secure their infrastructure and optimize their business operations. Our partnership with HGGC, in conjunction with ongoing investment from H.I.G. Capital and Split Rock Partners, enhances our ability to accomplish these efforts.”
“Fortra doubled in value over the past three years, and there are many opportunities to look forward to as we evolve our solutions to meet changing IT needs,” said Dan Mayleben, Fortra CFO. “We’ll carry on our well-known tradition of listening closely to customers and delivering exceptional software based on their requirements and those of the industries they serve.”
About Fortra
Fortra aligns IT and business goals to help organizations build a competitive edge. Our software and services monitor and automate processes, encrypt and secure data, and provide easy access to the information people need. More than 13,000 organizations around the world rely on Fortra to make IT lives easier and keep business running smoothly. Learn more at www.fortra.com.
About HGGC
HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palos Alto, Calif., HGGC is distinguished by its “Advantaged Investing” model that enables the firm to source and acquire scalable businesses at attractive multiples through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed over 90 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of more than $17 billion. More information is available at www.hggc.com.
Mike Devine
Vice President, Marketing
+1 952-563-1696
[email protected]
