Diligent Corporation’s Acquisition of Steele Compliance Solutions

Goodwin Procter LLP advised Steele Compliance Solutions, Inc. on the deal, while Willkie Farr & Gallagher represented Diligent.Diligent Corporation (“Diligent” or the “Company”), the modern governance company with a platform used by nearly 700,000 board directors and leaders across 19,000 clients, announced that it has signed an agreement to acquire Steele Compliance Solutions, Inc. (“Steele”), a global leader in ethics and compliance SaaS. Financial terms of the transaction were not disclosed.

Steele is the trusted market leader in ethics and compliance management with more than 1,000 clients, including over 25% of the Fortune 250. Steele’s Ethics and Compliance Platform provides organizations with best-in-market capabilities for proactively managing internal and external risk. Steele’s platform leverages automation, AI-powered data, and human intelligence to help organizations navigate potential risks by providing the tools needed to proactively manage their compliance needs.

The Steele acquisition is expected to close in early March. District Capital Partners served as the exclusive financial advisor. Bregal Sagemount acquired Steele Compliance Solutions in 2016.

Steele is a global compliance intelligence firm offering comprehensive third-party due diligence and software-as-a-service (SaaS) solutions that help organizations comply with regulatory requirements and align with best practices.

Bregal Sagemount is a private equity firm with more than $3 billion of capital allocated to investments in growth companies.

Diligent is a modern governance company with a platform used by nearly 700,000 board directors and leaders across 19,000 clients.

The Goodwin team advising Steele on its sale to Diligent is led by Jared Spitalnick (Picture), Anne Cataldo, and Sarah Melore.

Willkie Farr & Gallagher represented Diligent with partners Morgan Elwyn, Thomas Mark, and Erin Kinney.

Involved fees earner: Anne Cataldo – Goodwin Procter; Sarah Melore – Goodwin Procter; Jared Spitalnick – Goodwin Procter; Morgan Elwyn – Willkie Farr & Gallagher; Erin Kinney – Willkie Farr & Gallagher; Thomas Mark – Willkie Farr & Gallagher;

Law Firms: Goodwin Procter; Willkie Farr & Gallagher;

Clients: Diligent Corporation; Steele Compliance Solutions, Inc.;

Author: Martina Bellini