LONDON, UK, Feb. 11, 2021 /PRNewswire/ -- Funds advised by Apax Partners (the "Apax Funds") today announced the signing of a definitive agreement to acquire a majority stake of Herjavec Group (HG), an award-winning global Managed Security Services Provider (MSSP) and cyber operations leader. Founder & CEO, Robert Herjavec, will remain as a significant stakeholder and the firm's Chief Executive Officer (CEO). The financial terms of the transaction (which is subject to applicable regulatory approvals) were not disclosed.

Founded in 2003, Herjavec Group has been recognised as one of the world's most innovative cybersecurity companies with the sole mission of protecting enterprises globally from evolving cyber threats. Earning accolades from industry analysts including Gartner, Forrester, IDC and MSSP Alert, Herjavec Group has developed a reputation globally for attracting top security talent, and continuously advancing its cyber services which include Cybersecurity Advisory Services, Architecture & Implementation of best of breed technologies, Identity & Access Management, 24/7 Managed Security Services, Threat Management and Incident Response.

The Apax Funds, in partnership with HG's management team, will look to build on the company's impressive growth rate by accelerating international expansion efforts, augmenting HG's talented team with additional threat & identity resources, and further advancing the HG Identity and HG SOAR proprietary platforms.  The Apax Tech team have a deep understanding of the cyber security market through the Apax Funds' prior investments in Sophos, a world-leader in the space and Coalfire, a cybersecurity advisory business which was acquired by the Apax Funds in 2019.

Robert Herjavec, Founder & CEO of Herjavec Group, said: "I couldn't be more thrilled to welcome the Apax Partners team to Herjavec Group. Over the past seventeen years, HG has remained steadfast in our mission to make enterprises around the world more secure. We have succeeded in that effort by developing an industry-leading 24/7 Managed Security Services practice, by advancing our proprietary IP, by diversifying our offerings to include Advisory, Managed Detection & Response, Identity and Incident Response services, and by hiring what I fundamentally believe is the very best team in the world.  This acquisition and the growth funding that results is a testament to our entire team, and to our loyal customer base who has entrusted us with their mission critical assets. I am excited for this next phase in our growth trajectory as we continue to earn their trust by expanding our localized support models, deepening our Managed Security Services offerings and furthering our platform development to drive incremental automation, efficiency and security ROI."

Rohan Haldea, Partner at Apax Partners, said: "Under Robert's leadership, HG has grown into an impressive business, providing critical cybersecurity solutions with a special focus on customer service. In an increasingly complex cybersecurity and IT market, where we are seeing ever more sophisticated cyber-crime, HG is a trusted partner that relieves the burden from internal enterprise security teams. We are excited to partner with Robert and team as we look to drive the business forward, investing in continued product innovation and growth acceleration while maintaining the company's number one priority: its customer centricity.

Dentons US LLP are serving as legal counsel to Herjavec Group and Kirkland & Ellis LLP is serving as legal counsel to Apax. Momentum Cyber is serving as financial advisor to Herjavec Group in connection with the transaction.  UBS Investment Bank and Stifel are serving as financial advisors to Apax.

About Herjavec Group

Robert Herjavec founded Herjavec Group in 2003 to provide cybersecurity products and services to enterprise organizations. HG has been recognized as one of the world's most innovative cybersecurity operations leaders, and excels in complex, multi-technology environments. Herjavec Group's service expertise includes Advisory Services, Technology Architecture & Implementation, Identity Services, Managed Security Services, Threat Management, and Incident Response. Herjavec Group has offices and Security Operations Centers across the United States, United Kingdom, Canada and India. For more information, visit HerjavecGroup.com or contact a security specialist at: info@herjavecgroup.com.

About Apax Partners LLP

Apax Partners LLP ("Apax Partners") is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax Partners, please visit www.apax.com.

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

Media Contacts: For Herjavec Group, Erin McLean, +1-647-535-3126, emclean@herjavecgroup.com; Kristin Glover, +1- 416-844-9591, kglover@herjavecgroup.com; For Apax Partners, Katarina Sallerfors, +44 20 7666 6526, Katarina.Sallerfors@apax.com; Luke Charalambous, +44 20 7872 6494, Luke.Charalambous@apax.com; Matthew Goodman, James Madsen, Greenbrook, +44 20 7952 2000, apax@greenbrookpr.com

Logo - https://mma.prnewswire.com/media/1436839/Herjavec_Group_Funds_advised_by_Apax_to_acquire_Herjavec_Group.jpg