Apax to acquire Herjavec Group

Katharine Hidalgo
12 February 2021

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Apax Partners has agreed to acquire a majority stake in Toronto-based Herjavec Group (HG), a managed cybersecurity service.

The firm is currently investing from its 10th-generation fund, which closed on $11bn in January 2021.

Founder & CEO, Robert Herjavec, will remain as a significant stakeholder and the firm's CEO.

The Apax technology team has previously invested in the cybersecurity market through Apax Funds' prior investments in Sophos, and Coalfire, a cybersecurity advisory business that was acquired by Apax in 2019.

Founded in 2003, Herjavec offers cybersecurity services, including advisory on architecture and implementation of technologies, identity and access management, managed security services, threat management and incident response.

Dentons is serving as legal counsel to Herjavec and Kirkland & Ellis is serving as legal counsel to Apax. Momentum Cyber is serving as financial adviser to Herjavec in connection with the transaction. UBS Investment Bank and Stifel are serving as financial advisers to Apax.