Thoma Bravo, a prominent software investment firm, has finalized the sale of its controlling stake in Veriforce, a global leader in supply chain risk management (SCRM) solutions, to funds managed by Apax Partners LLP. The financial details of the transaction remain undisclosed.

Veriforce operates as one of the largest providers of integrated SCRM solutions, with a presence in the U.S., Canada, and the UK. The company specializes in verifying contractor services for hiring clients, ensuring safety and compliance across supply chains.

During Thoma Bravo's five-year ownership, Veriforce experienced significant growth, achieving sixfold revenue increases through both organic initiatives and strategic mergers and acquisitions. Today, Veriforce serves over 1,300 clients and manages more than 90,000 contractors across 140 countries.

Colby Lane, CEO of Veriforce, praised Thoma Bravo for its partnership, which facilitated product and market expansion, transforming Veriforce into a global SCRM leader. He emphasized the company's mission to ensure worker safety, a principle that has guided their operations.

Hudson Smith, a Partner at Thoma Bravo, highlighted the transformation of Veriforce from a company with two products focused on a single industry to a global leader with over ten products across various sectors. This strategic evolution, along with investments in the VeriforceOne platform, has positioned the company for sustained success.

George Jaber, a Principal at Thoma Bravo, noted the successful implementation of a growth strategy that expanded Veriforce's client and contractor base across multiple industries and regions. The results reflect a well-executed combination of organic and inorganic growth strategies.

Thoma Bravo is recognized as one of the largest software-focused investors globally, managing over $166 billion in assets as of September 30, 2024. The firm invests in innovative, growth-oriented companies in the software and technology sectors, leveraging its extensive sector knowledge to drive growth initiatives.

Veriforce is acknowledged for its comprehensive SCRM solutions that prioritize worker safety. The company empowers organizations worldwide to enhance safety and compliance within their contractor supply chains, boasting a network of over 1,300 clients and millions of individual workers.

For more information about Thoma Bravo, visit their website at thomabravo.com, and for details on Veriforce, visit veriforce.com.