Finalization of the acquisition creates the preeminent supply chain risk management solution in the world
HOUSTON—Thoma Bravo-backed Veriforce ("Veriforce"), the supply chain risk and compliance management industry's fastest-growing solution provider, today announces that London Borough of Merton-based CHAS 2013 Limited ("CHAS") has received all customary regulatory approvals and the acquisition of CHAS by Veriforce is now complete.
CHAS, previously a wholly-owned subsidiary of the London Borough of Merton, is the UK's leading provider of risk prevention, compliance, and supply chain management services, and has built a strong reputation for simplifying health and safety prequalification and raising standards of risk management.
The combined company creates a global platform of technology and services, empowering over 3,200 leading companies in over 130 countries with over 80,000 contractors, and millions of individual workers to drive safety and compliance practices throughout their supply chain. The companies will share a singular mission: to help bring workers home safely.
"The completion of the acquisition of CHAS marks an important milestone in Veriforce's history, and I'm delighted to welcome all our new CHAS colleagues, clients, and contractors," said Colby Lane, CEO of Veriforce. "This transformational transaction brings together two highly complementary businesses with a shared commitment to help bring workers home safely. We see an enormous opportunity to continue our international expansion by bringing CHAS into Veriforce and unlocking further synergies and market opportunities."
Ian McKinnon, Managing Director, CHAS, adds: "We are thrilled to be joining Veriforce as the company continues to grow and innovate. CHAS has grown significantly in the last five years and we're excited that being part of Veriforce will accelerate that growth over the coming years."
Veriforce was represented by Kirkland & Ellis and the London Borough of Merton was represented by BDO LLP and Bevan Brittan LLP.
Veriforce® is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions that help bring workers home safely and optimize business performance. The company's SaaS safety and compliance platform, data integrity and verification practices, and standardized safety training programs empower leading organizations to drive safety and compliance into their supply chains and down to the worker-level.
Veriforce is the world's premier supply chain risk management network, comprising more than 750 hiring clients, more than 50,000 contracting companies, 7,000 accredited safety trainers and authorized evaluators, and over 2.5 million workers. It's this network that makes Veriforce the preferred partner for companies that strive to ensure a safe, qualified third-party workforce, to stay ahead of risk, and achieve optimal business performance. Company offices are in Covington, LA; Houston, TX; Calgary, AB & Toronto, ON, Canada; and Pretoria, South Africa. For more information, visit www.veriforce.com.
Since 1997, CHAS has been a trusted provider of health and safety (H&S) assessments. CHAS is now a leading provider of award-winning risk management and compliance services. As a co-founder and pioneer of the Safety Schemes in Procurement (SSIP) and the Common Assessment Standard, CHAS leads the way in setting compliance benchmarks that raise supply chain risk management standards. Find out more at: www.chas.co.uk or call 0345 521 9111.
Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami, and San Francisco. For more information, visit www.thomabravo.com.
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