GRC Leaders and Private Equity Firm Expand Offering with Acquisition of Policy and Procedure Management Company
Portland, Ore. – June 21, 2012 – Recognizing the growing need to combine ethics and compliance functions into a unified, strategic program, leaders from ELT, Inc., EthicsPoint, Inc. and Global Compliance Services, Inc. today announced their newly established brand, NAVEX Global. On the heels of launching the brand, NAVEX Global and private equity firm, The Riverside Company, also announced the acquisition of Policy Technologies International, Inc. (PolicyTech), the leading provider of policy and procedure management software.
“As organizations seek to consolidate governance, risk and compliance (GRC) processes to address complex enterprise risks, NAVEX Global brings together the best ethics and compliance offerings of four organizations into a unified platform to support our clients,” said Mark Reed, CEO of NAVEX Global. “I am extremely proud of and inspired by the passion, expertise, depth of talent and quality of solutions that we have harnessed under the NAVEX Global brand to serve national and multinational organizations.”
Under the new brand, NAVEX Global will equip clients to protect their organizations from adverse risks, enhance their corporate cultures and employee relations, and safeguard their brand equity and shareholder value.
“We offer predictive and actionable risk intelligence,” said Shanti Atkins, President and Chief Strategy Officer of NAVEX Global. “The NAVEX Global name reflects our dedication to help clients navigate increasingly complex global issues in ethics and compliance, as well as our unmatched collective expertise and institutional knowledge of GRC best practices.”
The most recent addition of PolicyTech addresses a key pain point in GRC management by providing clients with robust and user-friendly technology to manage policies and procedures. PolicyTech’s offerings help clients automate their processes to increase operational efficiency and policy awareness.
A recent ethics and outcomes report from The Corporate Executive Board indicated that strong cultural integrity is critical to business performance and valuation. NAVEX Global provides an array of GRC services to capture and respond to business risk, improving the economic and social value of their organizations. The company works with clients to manage ethics and compliance programs through a deep portfolio of solutions including case management, whistleblower hotlines, policy management , online training and expert advisory consulting. The fully integrated offerings provide clients with key learnings and actionable data to inform change management.
"We are excited to bring together four leading companies to offer organizations a strategic offering of GRC services in response to the ever-increasing regulatory environment," said Loren Schlachet, managing partner with The Riverside Company. “We have a deep commitment to the GRC industry as we understand that trust in organizations has a positive effect on shareholder value. We are proud to see NAVEX Global grow at an intense pace both organically and through add-on acquisitions.”
Michael Rasmussen, GRC advisor, author and founder of Corporate Integrity, LLC., stated, “Organizations face increased demands of integrity, compliance, ethics and risk management. NAVEX Global is a major player in the ethics and compliance industry with the integration and experience of the companies that comprise it. There is a growing demand for GRC services as corporations look to strengthen and streamline their processes for effective governance, risk and compliance management that NAVEX Global brings an intriguing and holistic approach to addressing.”
Headquartered in Portland, Ore. with offices in San Francisco, Cali., Rexburg, Idaho and Charlotte, N.C., NAVEX Global has a workforce of more than 450 employees, a client base of more than 7,500 organizations globally and an unmatched commitment to quality and continuous innovation. Nearly three-quarters of the Fortune 100 and half of the Fortune 1000 are already customers of the combined organization.
“As a client of both ELT and Global Compliance, we are excited to use NAVEX Global’s integrated ethics and compliance solutions,” said Jonathan M. Moulton, Senior Vice President and General Counsel of Ascend Learning, a NAVEX Global client. “By adding policy and procedure management they are fulfilling another capability that clients have requested.”
NAVEX GlobalTM is the trusted global ethics and compliance intelligence expert for more than 7,500 clients in over 200 countries. A merger of industry leaders ELT, EthicsPoint, Global Compliance Services and PolicyTech, NAVEX Global now provides the world’s most comprehensive suite of solutions to manage governance, risk and compliance.
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.