- BDC IV set to invest in Forward Global, a leader in corporate risk management solutions
- Bridgepoint will support Forward Global in its next phase of growth, with a focus on US expansion as well as leveraging M&A opportunities
- The announcement builds on Bridgepoint’s strong track record of investing in tech-enabled specialist advisory businesses
Bridgepoint has today announced that Bridgepoint Development Capital IV ("BDC IV"), its franchise focused on investing in lower mid-market businesses, has agreed to invest in Forward Global (Forward), a leader in corporate risk management solutions. RAISE Invest and Rives Croissance are renewing their commitment to the group's development strategy by continuing their minority stakes.
Founded in Paris in 2018, Forward has rapidly emerged as a premier provider of bespoke corporate risk management solutions tailored to mission-critical and non-cyclical leaders’ needs. Its offering includes advanced cybersecurity services, critical litigation and regulatory intelligence, and complex strategic communications support.
Forward operates in a buoyant market supported by strong secular tailwinds including growing cyber threats and increasing risk-related regulation. The advent of Generative Artificial Intelligence is expected to bolster demand for cybersecurity and risk management services.
Against this backdrop, Forward has grown significantly over the past years, both organically and through more than 10 acquisitions. This growth is underpinned by a very high rate of recurring or re-occurring revenues, underscoring the quality of its offering and the loyalty of a customer base including global blue-chip companies and notable governmental bodies.
The highly fragmented nature of the market leaves Forward significant headroom for growth and market expansion, building on its strong track record for value-accretive M&A while leveraging Bridgepoint’s extensive experience investing in tech-enabled specialist advisory businesses, including Analysys Mason, DataExpert and FCG.
Matthieu Creux, Chairman of Forward Global, said: "Forward Global is particularly proud to be able to partner with Bridgepoint Development Capital and to continue our entrepreneurial relationship with RAISE Invest and Rives Croissance. Our roadmap is very clear: continue to improve and multiply our technological tools and expand our international footprint as a leader in the risk management market, with the goal of scaling up."
Jean-Baptiste Salvin, Partner at Bridgepoint Development Capital, said: "As a genuine European leader in the corporate risk management space with a strong track record of innovation and exceptional client service, Forward Global always felt like a natural partner for BDC. As part of our long-term origination strategy in the Services sector, we had tracked Forward for several years, cultivating a strong relationship with Matthieu over the past 18 months. We’re delighted to be supporting Forward in this next stage of its growth journey, leveraging our experience of investing in high-growth sectors where we can add substantial value.”
The closing of the investment is subject to the necessary administrative approvals and is expected to take place over the summer of 2024. It marks the sixteenth platform investment by BDC IV and its sixth in France.
Forward Global and its management were advised by Hogan Lovells, Axipiter, Schoups, Sheppard Mullin (legal), LEK (strategic audit), Oderis (financial audit), Indefi (ESG), Natixis Partners (M&A and financing) and Callisto (management).
Bridgepoint was advised by Proskauer Rose, Arsene Taxand and DLA Piper (legal & structuring), BCG (strategic audit), KPMG (financial audit), PWC (legal, tax, social, and ESG audits) and Clearwater (M&A and financing).