Investcorp Buys Majority Stake In US Security Firm

Bahrain-based asset management firm, Investcorp announced that it has acquired a majority stake in US-based FishNet Security from Chicago-based Lake Capital. The financial details of the deal were not disclosed.

FishNet, one of the largest information security solutions provider in North America, offers technology, consulting and training services.

The FishNet investment will be managed by Investcorp’s North American Corporate Investments team and the firm’s US and European-based technology investment group, Investcorp Technology Partners.

Mohammed Al-Shroogi, president for Gulf Business at Investcorp said: “Businesses are placing increased emphasis on the importance of identifying and mitigating information security risks and FishNet is ideally positioned to capitalise on these growth opportunities and to help drive advancements in the information security sector further.”

Earlier this month, the company said that its US-based real estate arm had acquired two portfolios in the US for around $120 million. The combined 900,000 sq ft portfolio includes 16 office properties in the Greater Houston and Chicago metropolitan areas.

“These transactions are consistent with Investcorp’s investment approach of seeking out high quality, stable, cash flowing assets at attractive valuations, and in close proximity to major economic centres,” the company said at the time.

Along with acquisitions, the company has also been announcing exits; in January, Investcorp said that it sold US-based CCC Information Services to Leonard Green & Partners.

The value of the deal was not revealed, but Investcorp said that the exit unlocked over $550 million in proceeds.

The company also sold US-based FleetPride to private equity firm TPG for over $1 billion in November 2012.