The deal will move Lexipol’s ownership from The Riverside Company, which bought it out in 2014, to GTCR. In the seven years it owned Lexipol, Riverside merged three companies with it — Praetorian Digital, Cordico and The Rodgers Group — expanding its corporate offerings to include wellness, online training and new accreditation support.
“Riverside has been a fantastic partner, helping us to successfully expand into additional strategic segments which has allowed us to greater serve first responders and public servants,” said Lexipol CEO Chuck Corbin in a statement. “With Riverside’s help, we have integrated three valuable acquisitions into the Lexipol family, and have grown our core market position. We will always be grateful for our relationship with Riverside and look forward to our new partnership with GTCR.”
Lexipol is perhaps best known for its policy-writing business, where it offers law enforcement agencies, corrections departments and other public-sector organizations policies they can adopt to govern their procedures. But after 18 years in business, it has grown to serve various other functions such as grant writing assistance technology and five industry-specific news websites that seek to share information between agencies.
In the press release from Shea & Co., a firm that advised Lexipol on the deal, the company’s products are described as reducing litigation risk for agencies and helping them adopt best practices.
The buyout is the latest in a wave of mergers and acquisitions in the gov tech space this year as the pandemic has reshaped — and often increased — demand for many companies serving the public sector.
