Acquisition creates the preeminent supply chain risk management solution in the world.
HOUSTON, Nov. 17, 2022 /PRNewswire/ — Thoma Bravo-backed Veriforce, the supply chain risk, and compliance management industry’s fastest-growing solution provider, today announces it has entered into a definitive agreement to acquire Merton-based CHAS, the UK’s leading compliance management solution provider.
The combined company creates a global platform of technology and services, empowering over 3,200 leading companies in over 130 countries with over 80,000 contractors and millions of individual workers to drive safety and compliance practices throughout their supply chain. The companies will share a singular mission: to help bring workers home safe.
“For 30 years, Veriforce has been working with the world’s leading companies to make work safer. It’s more important now than ever, and we know that coming together with CHAS will strengthen both companies’ ability to deliver on our mission,” said Colby Lane, CEO of Veriforce.” We’re excited to bring this incredible offering to the market and work with our existing and new clients to build a truly global solution for managing risk in the supply chain.”
Ian McKinnon, Managing Director, CHAS, comments: “We are very excited to be joining Veriforce, who are committed to growing the business both within the UK and internationally. The breadth of capability will enable CHAS to achieve its full potential, enabling the business to diversify into new markets and offer new additional services for the benefit of our clients and customers.”
Colby Lane, adds: “Our commitment to CHAS is demonstrated by our plans to maintain CHAS operations within Merton and underlined by Veriforce funding a new £50,000 annual paid internship program for young adults in the local community as well as pledging an annual £50,000 charitable donation to support Merton based businesses.”
Veriforce was represented by Kirkland and Ellis and Merton was represented by BDO and Bevan Brittan.
About Veriforce
Veriforce® is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions that help bring workers home safely and optimize business performance. The company’s SaaS safety and compliance platform, data integrity and verification practices, and standardized safety training programs empower leading organizations to drive safety and compliance into their supply chains and down to the worker-level.
Veriforce is the world’s premier supply chain risk performance network, comprising more than 750 hiring clients, more than 50,000 contracting companies, 7,000 accredited safety trainers and authorized evaluators, and over 2.5 million workers. It’s this network that makes Veriforce the preferred partner for companies that strive to ensure a safe, qualified third-party workforce, to stay ahead of risk, and achieve optimal business performance. Company offices are in Covington, LA; Houston, TX; Calgary, AB & Toronto, ON, Canada; and Pretoria, South Africa.
For more information, visit www.veriforce.com.
About CHAS
Since 1997, CHAS has been a trusted provider of health and safety (H&S) assessments. CHAS is now a leading provider of award-winning risk management and compliance services.
As a co-founder and pioneer of the Safety Schemes in Procurement (SSIP) and the Common Assessment Standard, CHAS leads the way in setting compliance benchmarks that raise supply chain risk management standards.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami, and San Francisco. For more information, visit www.thomabravo.com.
SOURCE Veriforce
