Inflexion backs the management buyout of CMO
Inflexion today announces that it has completed the management buyout of CMO COMPLIANCE (“CMO”), the market leader in enterprise health, safety, environment (HSE) and governance, risk, compliance (GRC) software solutions for global corporations and regulators.
CMO has grown rapidly since launching its off-the-shelf product suite in 2007 and the company now serves over 130 customers including blue-chip clients Xstrata, Network Rail, Orica and Tyco. Operating in a large, global market, which is growing at over 15% annually, demand for CMO’s products is driven by an increased need for configurable compliance software, increasing regulation as well as the increasing cost of non-compliance.
As part of the buyout, Inflexion has introduced Loek Van den Boog as Chairman. Loek is a highly experienced software industry veteran, who was head of Oracle EMEA, where he led rapid international expansion, and has held board and management positions with multiple global technology companies, supporting them through periods of high growth and rapid change.
Simon Turner, Managing Partner at Inflexion, commented: “CMO’s product suite is best in class and the business has grown quickly to become a truly global operator. We’re backing the founders and will work with them to develop the company’s sales and marketing capability, as well as adding strength, experience and an international dimension to the management team and board.”
James Cotton, Co-Founder, CMO said: “We are delighted that Inflexion is investing in the next stage of CMO’s development. The knowledge and experience Inflexion brings will help us accelerate our international growth. Inflexion’s funding will enable us to invest in, and further develop our sales and marketing team, allowing us to replicate our current successes on a truly global scale and realise the true potential of our product in a market that is exploding given the increased importance of governance, risk and compliance management.”
This is Inflexion’s second investment this month, following the secondary buyout of On The Beach which was announced on the 7th October.