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Steele Compliance Solutions

Steele Compliance Solutions is a leading provider of Governance, Risk & Compliance (GRC) software and data focused on internal and external ethics and compliance for multinational enterprises and financial institutions.
Investment snapshot Industry: Software
Year Invested: 2016
Year Exited: 2021
Outcome: Acquired by Diligent Corporation
Status: Exited
Sagemount team Pavan Tripathi Curt Witte William Breskman
Company info www.steeleglobal.com
San Francisco, CA

Company case study

Sagemount’s contribution to M&A sourcing, underwriting, and execution, pricing and bundling optimization, and exit planning resulted in an outsized outcome for Steele.


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Steele Transaction Overview

  • In May 2016, Sagemount acquired a controlling interest in Steele
  • During Sagemount’s hold, Steele focused on organic growth initiatives including refining its pricing strategy and aggressively investing in its software and data products
  • Sagemount partnered with Steele’s management to pursue strategic M&A, vetting over 25 opportunities and closing four acquisitions focused on product roadmap acceleration. The acquisitions helped Steele evolve from a third party risk management specialist to a Steele as a “full suite” GRC software provider.
  • In March 2021, Diligent Corporation acquired Steele Compliance for an fully-valued strategic multiple of revenue and EBITDA
Company news
  • Diligent to Acquire Steele Compliance Solutions
    • Steele,  
    • Company News
    Feb 25, 2021
  • Steele Announces Acquisition of Osprey Compliance Software Delivering the Industry’s Most Comprehensive Risk Management Solution
    • Steele,  
    • Company News
    Aug 2, 2019
  • Steele Launches the AI Investigator, the Industry’s Only Real-Time Comprehensive Data Source for Identifying Financial and Corruption Risk
    • Steele,  
    • Company News
    Apr 5, 2019
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    • *All Equity Deals LTM Nov 22, except Scorpion (LTM Dec 2022) and Enhesa (2022YE Revenue). Debt Deals are LTM between Sep-NOV 2022, PF for recent transactions.

Case studies included on this website are illustrative and represent portfolio companies, current or past, where Sagemount has worked with portfolio companies on value enhancement initiatives. Quotes and information provided serve to illustrate Sagemount’s expertise in working with management teams, and should not be construed as a testimonial concerning any investment advisory recommendations provided by Sagemount to its clients. These case studies are objectively representative of current and past investments and are provided for illustrative purposes only. Past investments and results are not necessarily indicative of any future investment or results. The historical results above are not intended as a representation or warranty by Sagemount as to the actual composition or performance of any future investments that would be made. The nature of, and risks associated with, any future investments may differ substantially from those prior investments. See the Disclaimers page for additional legal disclaimers.

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