UK's Beech Tree Private Equity says it is making a “significant investment” in Performanta, a global provider of managed cyber security services to enterprise customers.
Performanta offers a full security solution, including advising on security strategies, and monitoring customer environments. It is headquartered in the UK, and has operations in South Africa, Germany, Australia and the US.
Beech Tree will support Performanta's plans to make strategic acquisitions in core markets to expand the group, accelerate focus on enterprise customers and the channel, and further invest into its products.
“We have built a strong relationship with Beech Tree due to its strong sector insights and are pleased to be partnering to help accelerate our growth to the next level, providing cyber safety to the global market,” adds CEO of Performanta, Guy Golan.
The cyber security company has built its own cloud-based technology platform, CORE, which enables it to monitor customers’ networks and endpoints and has automated threat detection capabilities and real-time compliance reporting.
As part of the deal, Performanta has appointed William Morrish as group chief revenue officer and Tim Collins as chief financial officer. Morrish, previously VP & GM EMEA at Alert Logic, brings significant experience in enterprise security and will drive the accelerated growth of Performanta’s global sales and marketing functions. Collins has previously worked in private equity-backed companies and as FD for a FTSE 100 technology enterprise.
Paul Franks and Adam Rudd from Beech Tree Private Equity have also joined the board as non-executive directors.
Says Rudd, director at Beech Tree Private Equity: “The market is experiencing significant growth as cyber attacks become more high profile, frequent and damaging, which is driving the increased requirement for specialist managed cyber security services.”
He says Beech Tree has been impressed with the depth of cyber security expertise demonstrated by Performanta, which is reflected by its tier-one customer base across banking, aviation, financial services, insurance, telecommunications, public sector and more.
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