M&A Deal Summary

Diligent Acquires STEELE Compliance Solutions

On February 25, 2021, Diligent acquired software company STEELE Compliance Solutions from Bregal Sagemount

Acquisition Highlights
  • This is Diligent’s 3rd transaction in the Software sector.
  • This is Diligent’s 2nd transaction in the United States.
  • This is Diligent’s 1st transaction in California.

M&A Deal Summary

Date 2021-02-25
Target STEELE Compliance Solutions
Sector Software
Buyer(s) Diligent
Sellers(s) Bregal Sagemount
Deal Type Add-on Acquisition
Advisor(s) UBS Investment Bank (Financial)
Goodwin Procter (Legal)

Target

STEELE Compliance Solutions

San Francisco, California, United States
STEELE Compliance Solutions, Inc. is a provider of third-party management software and due diligence investigation services focused on the anti-bribery and anti-corruption compliance market. STEELE Compliance Solutions was founded in 1989 and is based in San Francisco, California.

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Buyer(S) 1

Buyer

Diligent

New York, New York, United States

Category Company
Founded 2007
Sector Internet Software and Services
DESCRIPTION

Diligent is a provider of cloud-based corporate governance and collaboration solutions for boards and senior executives. Diligent’s multi-tenant SaaS platform provides directors with a single application to securely and reliably access, edit and share materials while satisfying security and compliance requirements. Diligent was launched in 2007 and is headquartered in New York, New York.


DEAL STATS #
Overall 6 of 8
Sector (Software) 3 of 4
Type (Add-on Acquisition) 3 of 5
State (California) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-24 Galvanize

Vancouver, British Columbia, Canada

Galvanize is a provider of software solutions that are transforming audit, compliance, and risk management to give organizations unprecedented control over their business. Galvanize is based in Vancouver, British Columbia.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-10 Accuvio

Limerick, Ireland

Accuvio provides a single software solution that accelerates and improves numerical and textual sustainability and ESG data aggregation and reporting. Accuvio is headquartered in Limerick, Ireland.

Buy -

Seller(S) 1

SELLER

Bregal Sagemount

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2012
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 31 of 37
Sector (Software) 8 of 9
Type (Add-on Acquisition) 13 of 16
State (California) 5 of 6
Country (United States) 29 of 34
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 SEKO

Schaumburg, Illinois, United States

SEKO is a global non-asset-based 3PL provider offering a complete set of technology-enabled supply chain logistics solutions, including freight forwarding, transportation management, contract logistics and warehousing services. SEKO was founded in 1976 and is based in Schaumburg, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-09 Independence Dental Services

Dallas, Texas, United States

Independence Dental Services is a dental service organization (DSO) platform that provides technology-enabled non-clinical support to dental practices to maximize their success in the delivery of oral health solutions to patients. Independence Dental Services was founded in 2021 and is based in Dallas, Texas.

Buy -