Investment Banking

NEOGOV Has Agreed to a Growth Investment from Warburg Pincus and The Carlyle Group

NEOGOV (logo) Has Agreed to a Growth Investment from Warburg Pincus (logo) and The Carlyle Group (logo)

William Blair acted as the exclusive financial advisor to NEOGOV, a portfolio company of Warburg Pincus, in connection with its pending growth investment from Warburg Pincus and The Carlyle Group. The transaction signed on May 13, 2020 and is expected to close in June 2021.

Transaction Highlights

  • Longstanding sponsor and company relationships: Warburg Pincus and NEOGOV selected William Blair due to the trusted partnership the transaction team has fostered through multiple successful transactions as well as a strong relationship built in a prior transaction to acquire PowerDMS.
  • Unrivaled domain expertise: NEOGOV and Warburg Pincus were attracted to William Blair’s unparalleled expertise in public sector and human resource software, as well as a track record of selling leading, high quality SaaS businesses.
  • Execution excellence and M&A expertise: William Blair guided NEOGOV and Warburg Pincus through a highly accelerated and demanding diligence process. The team provided exceptional process design to achieve the right outcome for all shareholders.

About the Company

NEOGOV is the leading provider of an integrated HR, payroll, talent management, accreditation management, and policy management solutions for the public sector. NEOGOV customers report increased employee productivity and engagement, time and cost savings, improved regulatory requirement compliance, and reduced paper processes, with a net result of better services for citizens. Serving over 6,000 organizations, NEOGOV provides intelligent HR for the public sector.

Warburg Pincus LLC is a leading global growth investor. The firm has more than $60 billion in private equity assets under management. The firm’s active portfolio of more than 200 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $90 billion in over 930 companies in more than 40 countries.

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 29 offices across five continents.

Learn more about our technology investment banking expertise.

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