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(Alliance News) - Apax Global Alpha Ltd on Friday announced its limited partner Apax X Fund has entered into an agreement to buy a majority stake of Herjavec Group, a managed security services provider located in Reading, England.
The Guernsey-based private equity and derivatives investor said the transaction is expected to close in the second quarter of 2021, subject to closing conditions.
Apax Global Alpha said it plans to invest EUR5.4 million into Herjavec on a look-through basis, with this figure stated before taking into account any closing adjustments.
"Having followed the company's progress to date, Apax X saw the opportunity to back a well-regarded player in the cybersecurity services space with solid potential for both organic and inorganic growth. The Apax Funds, in partnership with Herjavec's management team, will look to build on the company's impressive growth rate by accelerating international expansion efforts, augmenting Herjavec's talent bench with additional threat & identity resources, and further advancing the Herjavec Identity and Herjavec SOAR proprietary platforms," said Apax Global Alpha.
Shares in Apax Global Alpha were up 2.0.9% at 204.89 pence in London on Friday.
By Zoe Wickens; zoewickens@alliancenews.com
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