Trivest Partners has made an investment in IDMWORKS, a provider of identity and access management (IAM) services. This transaction represents the 9th platform company investment made by Trivest Fund V, a $415 million fund which closed in October 2012.
IDMWORKS is an identity and access management (IAM) consultancy firm. IAM is a service that allows companies to control access to IT resources (identity) and what resources can be use and in what ways (authorization). The company has more than 600 customers that are active in the finance and banking, retail, higher education, health care, utilities and government sectors. IDMWORKS was founded in 2004 and is headquartered in Coral Gables (www.idmworks.com).
Paul Bedi and Todd Rossin, IDMWORKS’ co-Chief Executive Officers, will continue to be responsible for the daily operations of the company under Trivest’s ownership.
The investment from Trivest will allow IDMWORKS to expand its capabilities through add-on acquisitions and the addition of new personnel, services and technologies. “The partnership with Trivest will allow IDMWORKS to expand its key vendor partnerships, our IdentityForge product platform, and our international customer base,” said Mr. Bedi.
“IDMWorks is well-positioned to continue its long track record of growth across multiple avenues, and Trivest intends to assist the company in the active pursuit of acquisition opportunities that fit its strategic goals,” said Brian Connell, a vice president at Trivest.
Trivest makes control and non-control investments in founder or family owned businesses in the United States and Canada that have revenues of at least $25 million and cash flows of at least $5 million. Sectors of interest include business services, niche manufacturing, consumer products, and franchisors. The firm was founded in 1981 and has completed more than 225 transactions totaling over $5.5 billion in value. Trivest is headquartered in Miami (www.trivest.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-22-16
