ATLANTA, GA, SAN FRANCISCO, CA and SANTA MONICA, CA, August 17, 2021 – BeyondTrust (the “Company”), a worldwide leader in privileged access management (PAM), announced today that Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), a sector focused investment firm operating integrated businesses across private equity, credit and other related strategies, has closed its investment in the Company.
Clearlake joins existing investor Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, which acquired BeyondTrust in 2018 and has helped the Company expand its product offerings and extend its global reach. The financial support and resources from institutional shareholders Francisco Partners and Clearlake will enable BeyondTrust to increase its investment in innovation, accelerate its organic growth and continue executing on its targeted acquisition strategy.
Recently recognized as a Leader in the 2021 Gartner Magic Quadrant for Privileged Access Management(1) for the third year in a row, BeyondTrust offers a seamless approach to preventing data breaches related to stolen credentials, misused privileges and compromised remote access. The Company currently serves more than 20,000 customers, including 70% of the Fortune 500, and a marquee list of blue-chip companies around the world. BeyondTrust continued its rapid growth in 2021 adding approximately 750 new customers, renewing more than 90% of current customers, and achieving an industry-leading Net Promoter Score (NPS) of 47.
“We are excited about the opportunities ahead for BeyondTrust as we continue to expand our market-leading business in pursuit of our mission to revolutionize privileged access management,” said Matt Dircks, CEO of BeyondTrust. “The investments from Francisco Partners and Clearlake not only enable us to accelerate the rapid growth in our cloud solutions and recurring revenue, but also position us well to speed up innovation across our platform and product portfolio. We look forward to partnering together on this next chapter in our growth story.”
J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, and Jefferies LLC served as financial advisors, and Kirkland & Ellis served as legal counsel, to BeyondTrust and Francisco Partners. Sidley Austin served as legal counsel to Clearlake.
(1) Gartner, Magic Quadrant for Privileged Access Management, Felix Gaehtgens, Abhyuday Data, Michael Kelley, Swati Rakheja, 19th July 2021
BeyondTrust is a worldwide leader in privileged access management (PAM), empowering organizations to secure and manage their entire universe of privileges. Its integrated products and platform offer advanced PAM solution, enabling organizations to quickly shrink their attack surface across traditional, cloud and hybrid environments.
The BeyondTrust Universal Privilege Management approach secures and protects privileges across passwords, endpoints, and access, giving organizations the visibility and control they need to reduce risk, achieve compliance, and boost operational performance. Learn more at www.beyondtrust.com.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
About Clearlake Capital
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials and consumer. Clearlake currently has approximately $39 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com.
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