The Luxembourg-based private equity and investment advisory firm has engaged American investment bank William Blair on a sale process for the EHS software company, which helps enterprises comply with EHS regulations through its cloud-based applications
CVC Capital Partners is exploring sale of VelocityEHS. (Credit: aymane jdidi from Pixabay)
CVC Capital Partners is reportedly planning to sell VelocityEHS, a US-based provider of environmental, health, and safety (EHS) software solutions.
The private equity firm is expecting to make as much as $2bn from the sale, reported Reuters, citing three people having knowledge of the matter.
According to the sources, CVC Capital Partners is exploring a deal with an aim to capitalise on a spike in demand among corporates for compliance software.
The Luxembourg-based private equity and investment advisory firm has engaged William Blair, an American investment bank, on a sale process for the EHS software company.
CVC Capital Partners has invited indicative bids for VelocityEHS. It is prepared to entertain bids for a controlling stake in the EHS software firm or for a significant minority interest, said the sources.
The private equity firm acquired VelocityEHS in late 2017 from Actua, a multi-vertical cloud software company.
CVC Capital Partners gained ownership of the EHS software solutions provider alongside a controlling stake in Bolt Solutions, an online insurance service platform, in an all-cash deal worth $328m with Actua.
Through its cloud-based applications, VelocityEHS is said to help enterprises comply with EHS regulations. Based in Chicago, the company has over 500 employees working across seven locations, which include the US, Canada, the UK, Ireland, and Australia.
The company has built the VelocityEHS Accelerate Platform to address the EHS/ environmental, social, and governance (ESG) requirements of businesses.
Its EHS solutions are claimed to have been deployed in more than 140 countries, in over 20 languages, and by one-third of companies on Fortune’s Global 1000.