Inflexion exits CMO to US buyer Mitratech

Under Inflexion's tenure, the company expanded its sales and marketing teams, as well as making a number of senior appointments. The GP oversaw the appointments of former head of Oracle EMA Loek Van den Boog as chairperson and Ipanema Technologies' Jim Darragh as CEO.

The transaction marks Inflexion's second exit to a US buyer in the last 12 months, having generated a 7.7x multiple on the £140m sale of HR software provider Reward Gateway to Great Hill Partners.

Previous funding
Inflexion backed the management buyout of CMO (at the time known as CMO Compliance) in October 2013. The GP invested from Inflexion 2010 Buyout Fund, a £375m vehicle.

Company
Founded in 2001, London-headquartered CMO is a software company focused on health, safety and environmental governance, as well as risk and compliance. Its clients include Maersk Group, KPMG, Heathrow Airport and BHP.

The company originally started as a bespoke software development business focused on risk and compliance management. However, in 2000, CMO turned its attention to creating a single software that could be configured rather than customised to manage risk, compliance and, additionally, HSE governance.

People
Inflexion Private Equity – John Hartz (managing partner).
CMO Software – Jim Darragh (CEO).
Mitratech – Jason Parkman (CEO).

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• Topics
• Exits
• UK / Ireland
• Technology
• United Kingdom
• Inflexion Private Equity
• Trade sale