Blackstone Announces Significant Minority Investment in ISN, Global Leader in Third-party Contractor & Supplier Management So...
December 17 2020 - 9:00AM
Business Wire
Blackstone (NYSE: BX) announced today that funds managed by
Blackstone (“Blackstone”) have made a significant minority
investment in ISN, the global leader in third-party contractor and
supplier management software, at a valuation of over $2 billion.
The investment is led by Blackstone Growth (BXG), which focuses on
providing growth capital to market-leading companies and helping
them leverage Blackstone’s extensive global resources to further
scale their businesses. As ISN is employee-owned, Blackstone will
be the only outside stockholder in ISN. Blackstone’s backing will
help fuel ISN’s continued growth through product innovation and
expansion into new markets and geographies, potentially providing
even more value to both new and existing customers.
Established in 2001, ISN’s software platform, ISNetworld, helps
leading enterprises worldwide source and manage third-party
relationships with contractors and suppliers while ensuring
compliance with company, industry and regulatory standards. ISN’s
subscription-based platform helps customers ensure that their
contractors and suppliers meet key criteria for training, health
and safety, cyber-security, and environmental, social, and
corporate governance (ESG). More than 650 clients, over 170 of
which are Fortune 500 companies, rely upon ISNetworld to manage
compliance data for more than 75,000 contactor subscribers across
85 countries.
Vini Letteri, a Senior Managing Director at Blackstone Growth
(BXG), said: “Companies and boards around the world are
increasingly focused on ensuring the highest standards for risk
management, compliance and ESG reporting. We believe ISN is leading
the way, and that Blackstone can be a key partner in supporting its
further growth. ISN is the perfect example of the type of company
we’re looking to invest in at Blackstone Growth: it has outgrown
traditional growth equity, but not Blackstone.”
Brian Dunlap, a Managing Director at Blackstone Growth (BXG),
said: “ISN is a market leader that has experienced
extraordinary success through its commitment to innovative
technology and industry-recognized service to its blue-chip
customers across sectors and its extensive network of trusted
suppliers worldwide. We’re proud to be ISN’s only outside investor
and look forward to deploying Blackstone’s global resources to help
the company expand its mission of enhancing hiring organizations’
ability to source great contractors, manage risk and ensure
employees and contractors get home safely every night.”
Bill Addy, Executive Chairman of ISN, said: “As we look
to the future, Blackstone Growth’s global presence, operational
resources, and network across sectors will help us achieve our
long-term vision of providing the absolute best solution for our
customers to ensure safe supply chain continuity. Together with
Blackstone, we look forward to continuing our expansion into new
sectors and geographies and investing further in our technology
solutions to meet and exceed the needs of our customers.”
Joe Eastin, Chief Executive Officer of ISN, said: “I’m
very proud of the progress the ISN team has made over the last 20
years. We have developed an industry-defining product, cultivated a
powerful employee culture, executed an unparalleled level of
customer service and created a network for capital-intensive
companies to leverage best practices to keep worksites safe and
supply chains efficient. Through this partnership with Blackstone,
none of that changes. In fact, we look forward to enhancing our
product offering, providing even more expertise to our valued
customers and furthering the professional development of our
employees.”
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $584 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
About ISN
ISN is the global leader in contractor and supplier information
management, with over 20 years of experience connecting nearly 650
Hiring Clients, in capital-intensive industries, with more than
75,000 active contractors to promote safety and health in the
workplace. ISN’s customizable platform, ISNetworld, includes
data-driven insights and tools that help companies mitigate risks
associated with global business practices such as supply chain
continuity, regulatory compliance, sustainability, training and
program conformance.
Headquartered in Dallas, ISN has additional offices in Los
Angeles, Midland, New York, Calgary, Montréal, Toronto, Mexico
City, London, Perth, Sydney and Auckland which provide
award-winning support and training for our customers in more than
85 countries. ISN takes pride in leading worldwide efforts to
improve the efficiency and effectiveness of contractor management
systems and in serving as a world-class forum for sharing industry
best practices among its members. For more information, visit
www.isn.com.
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Blackstone Matt Anderson 518-248-7310
matthew.anderson@blackstone.com
ISN ISN Media Relations 214-303-4977
mediarelations@isn.com
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