BeyondTrust

Investment Thesis

• Business combinations form highly attractive position in the privileged access management market ​
• Strong secular growth​
• Lower cyclicality in end-market customers​
• Blue chip customer base

Investment Overview

Francisco Partners acquired Bomgar in April 2018. Bomgar has two primary offerings: Remote Support and Privileged Access management. Following the initial platform acquisition, Francisco Partners made a series of add-on acquisitions to complement and further strengthen the company’s product offerings. The combined businesses formed a highly attractive, leading position in remote support software and privileged access management markets. In July 2018, Francisco Partners announced that Bomgar would be acquiring Avecto, a UK-based provider of Privileged Escalation and Delegation Management Software. In August 2018, Francisco Partners announced the acquisition of BeyondTrust, a provider of Privileged Access Management and Vulnerability Management Solutions.​

The company has two main service offerings: Security solutions which makes up roughly two thirds of billings and Remote Support which will makes up the remainder.