San Francisco, California — February 1, 2017— Sverica Capital Management LLC (“Sverica”) today announced the closing of the sale of Optiv Security (“Optiv”), a market-leading provider of end-to-end cyber security solutions, to KKR. This marks the culmination of a very successful partnership with Optiv, and its predecessor company, Accuvant Inc., during which the Company experienced extraordinary growth, increasing revenues more than 14x and EBITDA more than 30x over Sverica’s eight-year investment period.
After becoming the first institutional investor in Accuvant in 2008, Sverica helped refine the Company’s strategy, augment the management team, and optimize its organizational structure. Sverica helped drive strategic M&A and supported significant investments in infrastructure and talent. Over the course of six years, Accuvant was successfully transformed from a small, emerging reseller focused on information security, into one of the leading national cyber security services providers in the world. In 2014, Sverica sold a majority stake in Accuvant to Blackstone (NYSE: BX), but remained a key shareholder and board member. Accuvant then merged with Fishnet Security in early 2015 to form Optiv. This strategic merger was a tremendous success and has since solidified Optiv as the dominant end-to-end cyber solutions provider with a clear market leadership position.
“The massive growth and business transformation accomplished with this business during our investment period would not have been possible without a tremendous partnership with management,” said Frank Young, Managing Director at Sverica. “The original founders and many executives and board members we worked with over the years at the Company were exceptionally talented and a pleasure to work with. We are grateful we had the opportunity to serve as the first institutional capital provider to the Company, and are thrilled with what we were able to accomplish together.”
“Sverica has been a fantastic partner and was instrumental in helping to accelerate our growth,” said Dan Burns, Co-Founder and Chief Executive Officer of Optiv. “Their investment and strategic input allowed us to take advantage of the huge market opportunity in security and has been invaluable to our success.”
About Optiv Security
Optiv is a market-leading provider of end-to-end cyber security solutions. Optiv helps clients plan, build and run successful cyber security programs that achieve business objectives through the Company’s depth and breadth of cyber security offerings, extensive capabilities and proven expertise in cyber security strategy, managed security services, incident response, risk and compliance, security consulting, training and support, integration and architecture services, and security technology. For more information, visit www.optiv.com.