MINNEAPOLIS & WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Norwest Equity Partners (“NEP”), a leading middle market investment firm founded in 1961, has completed the sale of its portfolio company, Focal Point Data Risk (or the “Company”), a leading data risk management services company, to CDW Corporation (Nasdaq: CDW), a leading multi-brand provider of information technology solutions. The transaction closed on July 30, 2021.
Serving mid-to-large enterprises and governments in the U.S. and internationally, Focal Point offers solutions that help companies secure their business so they can grow and innovate without risk. Solutions offered include professional and managed services across identity & access management, cybersecurity & data privacy, cyber defense, cyber skills development, and other risk consulting services. Whether cyber threats, privacy and security challenges, compliance mandates or system implementations, Focal Point solutions help enhance security programs by modernizing technology, optimizing processes, developing people, and eliminating vulnerabilities.
Brian Allingham, NEP Partner, shared, “Cybersecurity continues to be an attractive, fast-growing segment and Focal Point has built a strong reputation and will continue to hold a strong position within its core offerings in the industry. We are excited to watch their continued growth with CDW.”
NEP initially invested in Focal Point in 2014 with Halyard Capital serving as co-investor. Add-on acquisitions helped contribute to growth and during the investment period, Focal Point completed two and restructured its platform to further enable clients and enhance growth. Technology Integration is a leading IAM governance, deployment and integration services offering; Workforce Development offers cybersecurity training, consulting and solutions, with its main training facility based in Columbia, MD; and Advisors is a leading governance, risk and compliance advisory consulting group with offices throughout the U.S.
“The NEP team worked side by side with us to intentionally shift our business model from lower-value audit and compliance work to higher-value, more in-demand cybersecurity services. This included everything from strategy to implementation to employee skills development. We value the advice and support NEP gave us over the years as we are well-positioned for continued success with CDW,” stated Brian Marlier, Focal Point CEO.
Guggenheim Securities, LLC advised Focal Point on the sale transaction; Winston & Strawn served as legal advisor; and Grant Thornton provided transaction advisory services. Focal Point is headquartered in Tampa, FL and employs 235 people. More information can be found at focal-point.com.
With offices in Minneapolis and West Palm Beach, NEP has been investing in growing, profitable, and scalable middle market companies for more than 60 years. Visit nep.com to learn more.