Acuity Advisors secure the cross-border sale of Hitec (Laboratories) Limited to TA Associates investee company Mitratech Holdings Inc.

Technology corporate finance boutique, Acuity Advisors, has secured the cross-border sale of Hitec (Laboratories) Limited (“Hitec”), a leading UK based GRC and Information Governance software provider to US headquartered Mitratech Holdings Inc. The acquisition of Hitec by Mitratech signifies a major shift within the industry, as organisations gain unmatched visibility, predictability and control through a total risk management solution.

Hitec, based in the UK’s Thames Valley, is an innovative leader in Governance, Risk, and Compliance (GRC) and Information Governance software enabling enterprises across the world to reduce risk and costs, increase efficiencies, and ensure compliance in an increasingly complex business and regulatory environment. The business was founded in 1991 by Jeremy Crame and has been led and owned by management for over 25 years with a vertical market specialism in financial services which has grown into a wide number of additional sectors.

Post this acquisition, Mitratech now offer a comprehensive total risk management portfolio focused on helping executives manage enterprise risk. The combination of Hitec’s compliance and operational risk management products with Mitratech’s legal risk management platforms will give corporations unmatched capability in managing risks across the enterprise.

Jeremy Crame, founder and CEO of Hitec, commented: “The Acuity team really understood our business sector and worked closely with us to complete the IM and build a list of relevant potential suitors. This was all done within a relatively short space of time to ensure momentum was maintained. They engaged with the appropriate senior executives within the potential buyers and promptly reached a shortlist to whom management presentations were made. They managed the final process with great professionalism, and helped us to complete a transaction that generated shareholder value, enhanced opportunities for our employees, and created a beachhead for Mitratech activities outside of North America. Acuity lived and breathed the transaction and their knowledge and experience was invaluable.”

Jason Parkman, Mitratech CEO, commented: “Risk is top of mind for CEOs and their leadership teams across the world.  With the addition of Hitec’s innovative products and market expertise, Mitratech is uniquely positioned as the global player in the market to bring all of the capabilities across legal, compliance, and operational risk together in an end-to-end software platform.”

Matt Stamp, Partner at Acuity Advisors leading the process, commented: “This is a pivotal transaction in the sector. I am delighted that we have delivered a great result for the business and the shareholders reflecting Hitec’s strategic value, momentum, market specialism and heritage. We see a great future for Hitec within Mitratech’s proposition, offering a best in market GRC proposition as part of the industry’s most comprehensive product portfolio focused on managing enterprise risk.”

Acuity has a strong track record in the software sector, having recently advised businesses including ETSOS, Concirrus, Sefaira, PrimsaStar and Amplience. The sale represents Acuity’s 9th cross-border transaction in the last 18 months. Legal support to Hitec was provided by Nick Gabay at Thomson Snell & Passmore with accounting support from Crowe Clark Whitehill.

quote The Acuity team really understood our business sector and worked closely with us to complete the IM and build a list of relevant potential suitors. This was all done within a relatively short space of time to ensure momentum was maintained. They engaged with the appropriate senior executives within the potential buyers and promptly reached a shortlist to whom management presentations were made. They managed the final process with great professionalism, and helped us to complete a transaction that generated shareholder value, enhanced opportunities for our employees, and created a beachhead for Mitratech activities outside of North America. Acuity lived and breathed the transaction and their knowledge and experience was invaluable. quote
Jeremy Crame Hitec

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