TA Associates and Charlesbank Capital Partners have agreed to join existing private equity backer HGGC as investors in IT operations management business HelpSystems.
The deal comes just over 18 months after HGGC bought into the company, which provides software and services for monitoring and automating processes, as well as encrypting, securing and providing access to data.
TA managing director Harry Taylor said, “HelpSystems has grown and transformed significantly over the past few years, expanding its cybersecurity business and enhancing its leading cross-platform, automation and secure data transfer products.”
HelpSystems president Jim Cassens added, “Our partnership with HGGC has helped us innovate and deliver a broader, stronger solution set to our customers.
“HelpSystems has doubled in size every few years, and we believe that there are significant opportunities to further broaden our portfolio for our more than 17,000 customers.
“With this additional investment from TA and Charlesbank, we will seek to carry on our well-known tradition of listening closely to customers and delivering exceptional software that is based on their requirements, as well as those of the industries they serve, and that also addresses their complex challenges.”
Mid-market US private equity firm HGGC closed its third fund on $1.84bn in 2016.
The oversubscribed fund smashed its $1.5bn target and hit its $1.75bn hard cap less than six weeks after its launch.
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