ELT, EthicsPoint and Global Compliance Complete Merger, Forming Largest Full-Service Governance, Risk and Compliance Company
Charlotte, N.C., Portland, Ore., and San Francisco – March 2, 2012 –Today, leading ethics and compliance organizations, ELT, Inc., EthicsPoint, Inc. and Global Compliance Services, Inc., announced the completion of their merger with global private equity firm, The Riverside Company, as their key investor.
The new organization will be a leading player in the governance, risk and compliance (GRC) industry with the capacity to meet the expanding needs of customers all over the world. The merger expands on each organization’s strengths, providing clients with a single comprehensive resource to help protect their organizations from adverse risk, enhance their corporate cultures and drive better business results.
The new company will have significantly expanded capabilities and resources, a workforce of several hundred employees, a client base of nearly 6,500 organizations around the globe and an unmatched commitment to quality and continuous innovation. Nearly 75 percent of the Fortune 100 is already a customer of the combined organization.
The company will be renamed pending a rebranding and will have offices in Portland, Ore., San Francisco, Red Bank, N.J. and Charlotte, N.C.
“We’re thrilled about bringing together three world-class companies to create a dynamic provider of GRC services,” said Loren Schlachet, Managing Partner with The Riverside Company. “Together, these companies will offer even more exceptional service thanks to increased expertise and more diverse and integrated services.” EthicsPoint’s President & CEO Mark Reed is now CEO of the merged organizations. ELT President & CEO Shanti Atkins serves as the combined company’s president & chief strategy officer. Global Compliance CEO Jim Burke sits on the new company’s board of directors.
“Enterprise risk and compliance issues have become more complex and globalized, increasing both regulation and enforcement along with escalating litigation risk,” said Reed. “These factors place an increasing focus on ethics and compliance, making a single organization that can help companies respond to these risks from beginning-to-end both unique and highly sought after.”
“Our new organization will provide clients with in-depth expertise formed via unparalleled industry experience, data and analytics,” said Atkins. “We are deeply committed to helping create positive workplace cultures, protecting both employers and their people.”
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, The Riverside Company has invested in more than 275 transactions. The firm's international portfolio includes more than 75 companies, and it has $3.2 billion/€2.5 billion in assets under management.
ELT provides online training solutions to help employers manage their most important workplace compliance challenges. ELT specializes in the topics that create the greatest legal risks, and where effective employee training can prevent misconduct, establish powerful legal defenses, and help to create a culture of ethics, inclusion and respect, including ethics training, harassment training and wage & hour training. ELT features legal content from Littler Mendelson, the world's largest employment law firm, and is endorsed by the Society for Human Resources Management (SHRM), the world's largest human resources association. With more than a decade of market-tested success and millions of employees trained, ELT is trusted by today's most respected employers.
EthicsPoint, a leading provider of enterprise risk awareness solutions, helps organizations align their governance, risk and compliance (GRC) processes with overall business strategy. We protect corporate cultures and reputations by proactively revealing risk-related trends via the collection, management and understanding of their GRC-related data. More than 2,400 organizations currently use our solutions to increase the quality of GRC data reported to boards and executive teams to facilitate better business decisions. To find out how, please visit www.ethicspoint.com.
Global Compliance is the leading global provider of comprehensive, integrated corporate compliance solutions, including the industry’s first and largest whistleblower hotline supporting more than 25 million customer employees around the globe. Global Compliance serves more than 4,000 organizations by providing a full range of solutions necessary to achieve the highest degree of ethical behavior and corporate compliance. The Company’s ethics and compliance services include whistleblower hotlines and case management, online training and awareness programs, expert advisory consulting by the Ethical Leadership GroupTM, performance benchmarking and third party risk solutions for vendor and supplier due diligence.