What to know about the new investment in HelpSystems:
- HelpSystems, the Eden Prairie-based IT company, has announced a new minority investment from Harvest Partners SCF, LP, the non-control private equity strategy of Harvest Partners, LP
- The investment is expected to close in Q2 2021
- Harvest Partners SCF joins existing investors TA Associates, Charlesbank Capital Partners, HGGC, and HelpSystems employees
The Quote: Kate Bolseth, CEO of HelpSystems
“HelpSystems has grown significantly in the 18 months since TA and Charlesbank invested, and we’re thrilled to have attracted HP SCF as a partner as we continue to scale the business. We look forward to leveraging HP SCF’s insights as we continue our long-standing tradition of listening to customers and adding high-value solutions to our portfolio.”
MINNEAPOLIS (May 6, 2021) – HelpSystems today announced that funds managed by Harvest Partners SCF, LP (“HP SCF”), the non-control private equity strategy of Harvest Partners, LP, have signed a definitive agreement to lead a minority investment in HelpSystems. HP SCF will join existing investors TA Associates (“TA”), Charlesbank Capital Partners (“Charlesbank”), HGGC and HelpSystems employees to propel the company toward new levels of growth in global markets.
Thousands of organizations around the world rely on HelpSystems’ cybersecurity and automation software solutions to protect important information and automate manual processes.
“With its robust organic growth, successful acquisition strategy and notable customer loyalty, HelpSystems represents an exceptional investment opportunity. We are excited to partner with management, TA, Charlesbank and HGGC to support HelpSystems’ continued growth,” said Steven Duke, Partner and Co-Head of HP SCF, who will join the HelpSystems Board. Chris Peyser, a Principal at HP SCF who will also join the Board, added, “The team has developed compelling, cross-platform solution suites in cybersecurity and automation software to enable IT professionals to simplify management of critical systems. We are impressed with the talented leadership team and look forward to supporting their vision for further expansion across products and geographies.”
“HelpSystems has grown significantly in the 18 months since TA and Charlesbank invested, and we’re thrilled to have attracted HP SCF as a partner as we continue to scale the business,” said Kate Bolseth, Chief Executive Officer, HelpSystems. “We look forward to leveraging HP SCF’s insights as we continue our long-standing tradition of listening to customers and adding high-value solutions to our portfolio.”
“We’ve been impressed with HelpSystems’ organic and inorganic growth since our investment, and we will continue to support Kate and the HelpSystems team as the company extends its leadership in cybersecurity and IT automation,” said Harry Taylor, a Managing Director, and Michael Libert, a Principal, of TA. “TA has invested alongside Harvest Partners and HP SCF in the past, and we believe our continued working relationship will support HelpSystems’ innovation, product expansion and acquisition activity.”
The transaction is expected to close in Q2 2021 pending customary regulatory approvals and closing conditions. Lazard acted as financial advisor to HelpSystems and Goodwin Procter LLP provided legal counsel. William Blair & Company acted as financial advisor and Latham & Watkins provided legal counsel to HP SCF.
HelpSystems is a software company focused on helping exceptional organizations Build a Better IT™. Our cybersecurity and automation software simplifies critical IT processes to give our customers peace of mind. We know IT transformation is a journey, not a destination. Let’s move forward. Learn more at www.helpsystems.com
About Harvest Partners SCF, LP
Harvest Partners SCF is a non-control private equity investor. Harvest Partners SCF was founded in 2014 and is led by an experienced team of investment professionals who have, collectively, more than 50 years of private equity investment experience. Harvest Partners SCF provides flexible, non-control equity solutions to business owners and private equity firms that need capital for growth, liquidity, new platform investments or transformative acquisitions. More information about Harvest Partners SCF can be found at www.hp-scf.com..
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 525 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high-quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com..
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, as well as opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com..
HGGC is a leading middle-market private equity firm with over $5.4 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 200 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $28 billion. More information, including a complete list of current and former portfolio companies, is available at hggc.com.