Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, has agreed to acquire a majority ownership stake in Vector Solutions, a provider of industry-focused software solutions for training, risk management, workforce management and operational readiness. Genstar is acquiring Vector from Golden Gate Capital, a private equity investment firm, which will remain a significant shareholder in the business.
“Genstar’s interest in Vector Solutions is a testament to our consistent growth, talented team and the exceptional value of our leading solutions,” said Marc Scheipe, CEO of Vector. “We are excited to have the support of Genstar and Golden Gate Capital as we continue to serve everyday heroes by delivering intelligent software solutions that empower safer, smarter and better decisions.”
“Companies are increasingly demanding sophisticated technology solutions to help their employees rise to the challenges of complex and regulated work environments, and Vector is the clear leader in meeting that need,” said Geoff Miller, director at Genstar. “We are excited to partner with Marc Scheipe, the Vector leadership team and Golden Gate Capital to invest further in developing new and expanding existing markets both organically and through M&A.”
“We have enjoyed a highly successful partnership with Vector since acquiring the Company in 2018 as it has meaningfully scaled its business, expanded its platform of industry-leading software solutions and successfully evolved its brand,” said Rishi Chandna, a managing director at Golden Gate Capital. “We look forward to continuing to support Vector in its next chapter alongside Genstar.”
Matthew Crump, a principal at Golden Gate Capital, added, “We have tremendous respect for Marc and the impressive Vector management team as they help elevate the safety and success of their clients and the communities they serve. With a strong track record of organic growth and five strategic acquisitions since our investment, we are confident that Vector will continue to be an innovative industry leader.”
Kirkland & Ellis LLP served as legal advisor to Genstar. William Blair & Co. LLC and Baird served as financial advisors to Golden Gate Capital and Vector and Paul, Weiss, Rifkind, Wharton & Garrison LLP, Nob Hill Law Group PC and Trenam Law served as legal advisors.