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Apax Global Alpha (LSE:APAX) revealed on Thursday its intention to allocate €29 million to Veriforce, a specialist in supply chain risk management. This allocation is part of a broader transaction where the Apax XI Fund, in which AGA is a limited partner, has agreed to acquire a controlling interest in Veriforce.
The deal remains subject to customary regulatory approvals. Veriforce, headquartered in the United States, is one of the leading global providers of integrated supply chain risk management solutions, serving key markets in the US, Canada, and the UK. The company's services focus on enhancing safety and compliance within supply chains by validating contractor services for organizations that hire them.
Operating in over 140 countries, Veriforce has experienced significant growth since 2018. The company's client base has expanded from 115 to over 1,300, and its contractor network has grown from 9,500 to more than 90,000. The workforce has also increased substantially, now comprising over 530 employees.
Frank Ehmer, an Apax partner, commented, “The supply chain risk management sector is still relatively nascent and highly fragmented. Veriforce holds a strong reputation and market position in the US, and there is an opportunity to collaborate with the Veriforce team to drive further organic growth while scaling the business internationally and into new sectors.”
AGA noted that its commitment to Veriforce aligns with its broader strategy of providing access to a diverse portfolio of private equity funds managed by Apax, complemented by a targeted selection of debt investments.
At 11:47 BST, Apax Global Alpha shares were trading 0.77% higher at 149.14p.
