Thomas H. Lee buys Alfresco Software

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fintech insurtech wealthtech regtech ai cybertech esg news

Thomas H. Lee Partners has agreed to buy Alfresco Software, a provider of process automation, content management and information governance software.

The private equity firm, which invests in middle market growth companies, said the deal is expected to close in the first quarter of 2017. Founded in 2005 and headquartered in San Mateo, California and Maidenhead, United Kingdom, Alfresco is an enterprise open-source software company focused on making business flow quickly, seamlessly, and intelligently, by driving the convergence of enterprise content management and business process management. It provides solutions that enable clients to retain, manage, and share documents, files, and processes across cloud, mobile, hybrid, and on-premise environments.

Laura Grattan, managing director at THL, said: “Alfresco has an outstanding reputation for enabling customers to collaborate more effectively, optimize business processes, and strengthen compliance, and we look forward to working closely with their talented team to help the Company execute its go-forward strategy and accelerate growth.”

Alfresco Governance Services claims to strengthen compliance by seamlessly integrating records management into business processes and automating the complete record lifecycle—from capture through retention to final destruction. With the GDPR implementation deadline of 25 May 2018 looming closer, companies need to get control of the personal information held, what regulations apply to it, and who is responsible. In short, they need effective Information Governance and to establish business processes to manage risk and avoid non-compliance – simply and efficiently according to the company.

With this in mind, Alfresco claims to help users bring content under control and establish the processes needed to achieve GDPR compliance by May 2018. Headquartered in North America, Thomas H. Lee Partners invests exclusively in four industry sectors: business & financial services, consumer & retail, healthcare, and media, information services & technology.

With RegTech investment on the rise, a number of private equity firms have joined venture capital firms and regulators in investing in the sector. Last year, Danish RegTech company LogPoint landed $10m in Series B funding from Evolution Equity Partners.

Warburg Pincus also acquired a 35% stake in Swiss financial software firm Avaloq. The deal will see Warburg Pincus pump a reported $300m into the Zurich-based company in what it says is the first step towards a public listing in the coming years.

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