BPEA EQT to sell risk management software provider SAI360

Investment firm BPEA EQT has announced an agreement to sell SAI360, a provider of cloud-based risk management and compliance software, to Symphony Technology Group (STG). The transaction, pending customary regulatory approvals, is expected to close in the second quarter of 2023.

Chicago-based SAI360 was previously listed on the Australian Securities Exchange until BPEA EQT took the company private in 2016. Under EQT's ownership, the firm underwent a significant restructuring, divesting its property and assurance divisions to focus exclusively on governance, risk, and compliance (GRC) software. This transition was supported by the bolt-on acquisitions of Strategic BCP and BWise to bolster technical capabilities.

CEO Peter Granat noted that the partnership with BPEA EQT allowed the company to refine its focus and accelerate investment in innovation and platform development. Nicholas Macksey, a partner at BPEA EQT, credited the current leadership team with successfully transforming the firm into a global participant in the GRC software sector.