VERTU CAPITAL AND BDC CAPITAL ACQUIRE FIRMEX FROM NOVACAP
February 06, 2019
TORONTO, FEBRUARY 1, 2019 – Novacap, one of Canada's leading private equity firms, announced the sale of Toronto-based Firmex Inc. (“Firmex”), a global provider of virtual data room (VDR) and secure document sharing solutions, to VERTU Capital and BDC Capital. Financial terms were not disclosed.
Headquartered in Toronto, Canada, Firmex is a leader in the global VDR market. More than 120,000 companies in 80 countries worldwide – including leading global financial and legal intermediaries, investment firms and corporations – have trusted Firmex as their VDR provider. Offering an intuitive and robust SaaS product, Firmex’s relentless focus on providing superior customer service has resulted in high customer value and retention. In 2018, clients created more than 15,000 new Firmex data rooms to share large volumes of confidential documents for a variety of mission-critical processes including due diligence, litigation and compliance across a range of industries.
“When we made our investment in Firmex in 2016, we were drawn to the company’s unique competitive position in the global VDR market. Firmex’s reputation for providing quality service with easy to understand, transparent pricing and an exceptional user experience have led to significant viral new customer adoption as well as growing usage within its large user base. This virtuous circle, as well as key investments in personnel, technology and geographic expansion to the UK, positions the company very well for continued success. We are excited to see Joel and his team execute on the company’s next phase of growth” said Yong Kwon, Partner at Novacap and Chairman of Firmex.
“Our collaborative partnership with Novacap played a key role in our recent growth. They have been supportive partners and have provided sound guidance and feedback as we’ve considered various organic and inorganic growth initiatives. We are now excited to tackle this new chapter in our company’s history with VERTU Capital and BDC Capital” added Joel Lessem, CEO of Firmex.
RBC Capital Markets served as financial advisor and McMillan LLP served as legal counsel to Firmex.
Founded in 1981, Novacap is a leading Canadian private equity firm with $2.3 billion of assets under management. Novacap has raised $375 M for its TMT IV Fund and over $840 M for its TMT V Fund. The firm’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, please visit www.novacap.ca.
About Firmex Inc.
Firmex is a global provider of virtual data room and secure document sharing solutions. As one of the world’s most widely used virtual data rooms, Firmex supports complex processes for organizations of all sizes, including diligence, compliance and litigation. Whenever professionals need to share sensitive documents beyond the firewall, Firmex is their trusted partner. A Firmex subscription provides simple, safe and stress-free document sharing without hidden costs or complexity. Since 2006, Firmex has helped over 120,000 companies worldwide take control of their confidential documents. For more information, please visit www.firmex.com.