CGE Partners invests in ethiXbase
CGE Partners invests in ethiXbase, a leading provider of third-party risk assessment services to corporates, focusing on anti-corruption, human rights, labour, and the environment.
LONDON, 16th September 2021
CGE Partners (“CGE”) is delighted to announce its investment in ethiXbase, a fast growing and leading provider of third-party risk assessment services to corporates, focusing on anti-corruption, human rights, labour, and the environment.
CGE is partnering with Leas Bachatene (CEO), Russell Potter (CFO) and Michelle Knight (Head of Operations) to back the company in its next phase of growth to become the leading global provider of supply chain risk assessment software solutions. CGE will bring significant experience and resource to support ethiXbase’s international expansion, future M&A and new product development initiatives.
Leas Bachatene, CEO of ethiXbase, commented: “ethiXbase’s mission to support organisations worldwide to adopt sustainable and socially responsible policies and to report on their implementation, teamed with our proprietary software-as-a-service (SaaS) platform has been crucial to our development to date. We are looking forward to partnering with CGE to increase our global reach and product offering.”
CGE Partners commented: “ethiXbase is a rapidly growing business which can transform its customers’ ability to manage their supply chain risks. The market for these services has expanded significantly in recent years as corporates increasingly adopt tools to demonstrate their commitment to ESG, and to better manage stakeholder demand for higher ethical standards. We are looking forward to working with the ethiXbase management team in their next stage of growth.”
ethiXbase marks the second transaction for CGE in a month following its recent investment in SureCloud, and the fifth investment to date from its inaugural fund which focuses on tech-enabled businesses across Europe.
Portico acted as the financial adviser to ethiXbase and CGE Partners was advised by Marks Baughan (corporate finance).
About CGE Partners – cge-partners.com
CGE Partners launched its €440m European mid-market buyout fund in 2019. CGE targets purposeful businesses with a differentiated position and real ambition to grow. Through its sector-focused investment strategy CGE seeks to back companies with an enterprise value of up to €200m, and with ambitious, proven management teams.
About ethiXbase – ethixbase.com
ethiXbase is a leading provider of automated supply chain onboarding and due diligence solutions, offering a leading SaaS-based platform for third-party risk and compliance management. The platform provides coverage of the entire Legal and Compliance sustainability sector, including Corporate Social Responsibility (CSR), Environmental, Social, and Corporate Governance (ESG), and Sustainability teams. ethiXbase’s mission is to support organisations worldwide to adopt sustainable and socially responsible policies with a goal to help create a business environment in which organisations are committed to doing business with integrity and transparency.