Charlesbank Capital Partners Makes a Strategic Investment in Ivanti to Partner with Clearlake Capital and TA Associates to Accelerate Growth

Ivanti, Inc., the automation platform that makes every IT connection smarter and more secure across devices, infrastructure and people, today announced that Charlesbank Capital Partners, LLC has signed a definitive agreement to make a strategic investment in the company. Charlesbank, a leading private investment firm managing more than $8 billion of capital, will join existing investors Clearlake Capital Group, L.P. and TA Associates as an institutional shareholder in Ivanti. Terms of the transaction were not disclosed.

Ivanti provides solutions that automate IT and security operations, enabling customers to discover, manage, secure and service their IT infrastructure from cloud environments to edge devices. Ivanti’s software is utilized by over 40,000 customers across various industries and five continents, and its solutions allow administrators to discover IT assets on-premises, in the cloud and at the edge; improve IT service delivery; and reduce risk with insights and automation.

In the past six months, Ivanti completed two transformative acquisitions of MobileIron and Pulse Secure, strengthening its Unified Endpoint Management (UEM) and Zero Trust Security solutions, and announced the planned acquisition of Cherwell Software, enhancing its IT Service Management (ITSM) and workflow automation offerings. The recent strategic acquisitions meaningfully increased Ivanti’s scale and addressable market while strengthening its product portfolio. The additional capital from Charlesbank will enable Ivanti to extend its market-leading position further through product innovation and acquisitions. Ivanti will continue to be led by CEO and Chairman Jim Schaper and the current management team.

“Through our partnership with Clearlake and TA, Ivanti has significantly scaled the business, accelerated revenue growth and strengthened relationships with an expanding customer base,” said Mr. Schaper. “We are excited to welcome Charlesbank, an organization that shares both our values and our commitment to serving our customers and helping them solve their business challenges, as we continue innovating and delivering world-class solutions to enable the everywhere workplace. The unique combination of Clearlake, TA and now Charlesbank provides Ivanti with the expertise and capital to accelerate organic growth complemented with continued strategic acquisitions.”

“Ivanti is extraordinarily well-positioned to provide solutions that enable organizations to collaborate and innovate freely,” said Hiren Mankodi and Ryan Carroll, Managing Directors at Charlesbank. “We were attracted to the company’s leadership track record, vision and growth, as well as the value that has been created through recent acquisitions and strategic operational initiatives. We look forward to partnering with Clearlake, TA and the talented management team at Ivanti on the next chapter for this exciting company.”

Behdad Eghbali, Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake, commented, “Since our initial investment, Ivanti has significantly scaled its revenue, expanded its breadth of solutions and strengthened its position in attractive and rapidly growing markets. With the implementation of our O.P.S.® approach, Ivanti has accelerated its revenue growth through both organic and inorganic initiatives. Charlesbank joining our partnership with TA further supports our original investment thesis and sponsorship of the management team’s best-in-class playbook.”

“Since partnering with Ivanti in October 2020 alongside Clearlake, the company has rapidly executed on its growth plan, announcing three strategic acquisitions, successfully driving numerous organic initiatives and more than doubling the business,” said Harry Taylor and Hythem El-Nazer, Managing Directors of TA. “We believe there remains significant opportunity to drive additional innovation and growth given the increasing complexity of IT environments. We are delighted to welcome Charlesbank as a new investment partner and look forward to continuing to support Ivanti in its next phase of growth.”

Charlesbank, Clearlake and TA will have equal representation on the Ivanti Board of Directors. UBS Investment Bank and Citigroup acted as financial advisors for Ivanti. Citigroup and UBS Investment Bank also acted as capital markets advisors for Ivanti. Sidley Austin LLP provided legal counsel for Ivanti, with Ropes and Gray LLP representing Charlesbank. The transaction is expected to close in the second quarter of 2021, pending customary regulatory approvals and closing conditions.