Company formed by industry veterans with investment backing from Growth Catalyst Partners
NEW YORK, May 18, 2022 /PRNewswire/ — Veteran risk management executive, Andrew Herschin partnership with mid-market private equity firm Growth Catalyst Partners (GCP), today announced the launch of Sigma7, a risk management services company founded to support large organizations facing today’s dynamic environment complex risks.
Sigma7 will integrate the services of the leading companies specializing in risk services to create a complete platform to serve companies across all industries, risk domains and global locations. Three initial acquisitions were completed: Strategia Worldwide, focused on risk strategy, Paragon, a market leader in risk engineering services, and RWH Myers, experts in forensic accounting and loss recovery.
The foundational acquisitions give Sigma7 an installed customer base of over 300 major global enterprises and 150 employees operating in 9 countries on 5 continents. The new company intends to scale rapidly through acquisitions and organic growth, adding best-in-class capabilities and applying modern technologies to give businesses the real-time ability to visualize and quantify their exposures and to assess the effectiveness of their controls and hedges.
The total global risk services market is estimated at over 400 billion dollars in size and growing rapidly, outpacing general management consulting. An evolving risk landscape, including threats related to geopolitical volatility, cyberattacks and global health risks, is increasingly on the agenda of leaders and administrators.
“Organizations are facing unprecedented threats to their supply chains, operations and people,” commented the CEO of Sigma7. Andrew Hersch. He added: “Companies demand comprehensive risk results, informed in real time by the most accurate information available. Yesterday’s subjective, static, siloed capability has proven ineffective in dealing with the threats of today, let alone those of tomorrow. We are pleased to provide our clients, as well as those of partner law firms, insurance brokers and others, with a distinct competitive advantage.”
Prior to founding Sigma7, Hersh held risk management consulting roles at leading companies including Lockton Companies, Aon and Marsh, and is an industry delegate to several public/private partnerships focused on national security and critical infrastructure. Company management also includes chuck bralverco-founder of management consulting, Olivier Wyman & Company, and General Sir Richard Shireffformer Deputy Supreme Commander of NATO and internationally recognized expert in security strategy and risk management.
Sigma7 aims to help complex businesses contextualize and manage risk, integrating risk preparedness and response into business strategy, creating resilience and ultimately competitive advantage. Hersh commented, “Sigma7 is excited to be the premium market disruptor for risk management services, creating a cutting-edge platform that enhances capabilities and access for our customers beyond what was previously available. possible. In addition to our elite portfolio of risk management services, Sigma7 clients have access to global, business and national security leaders globally. Our clients will be better positioned than their peers to excel in this increasingly unstable world.
In partnership with the management team of Sigma7, Growth Catalyst Partners, a leading middle-market private equity firm, is focused on building leading information platform, marketing and technology services companies. plan in rapidly growing vertical markets. GCP recently announced the closing of its second oversubscribed investment fund and is currently an investor in 12 platform companies.
“Our team worked on a thesis to create a leading independent global risk management, information and services company with a technology focus and data-driven focus. We are extremely fortunate to have collaborated with a team of world-class management comprised of industry experts and to have a very ambitious M&A roadmap to rapidly grow the business.We started by combining three leading companies to form the platform of Sigma7 and we will be very active in the coming months,” said Scott Petersmanaging partner of Growth Catalyst Partners.
Canaccord Genuity provided advisory services and Seward & Kissel LLP provided legal representation during the formation and initial acquisitions of Sigma7.
Sigma7 is building a new type of risk services model that is non-confrontational, comprehensive, and focused on measurable business results. The company’s core brands include Strategia Worldwide, Paragon Risk Engineering and RWH Myers, with additional acquisitions and organic growth planned. Its customer base includes more than 300 of the largest and most complex organizations in the world. Sigma7 has its dual headquarters at New York City and London. More information is available at s7risk.com.
About Growth Catalyst Partners
Growth Catalyst Partners is a middle-market private equity firm that invests in information, marketing and technology services companies. GCP’s strategy is to target growth segments of industries and identify and create market-leading companies with breakthrough potential. GCP partners with founders and owners of companies as well as senior executives in these sectors and provides capital, creation of exclusive agreements and operational expertise to the management teams. The GCP team has deep industry expertise and has led hundreds of successful transactions and investments in service businesses for over 20 years. Since the company was founded in 2015, GCP has completed more than 60 acquisitions across its 11 industry-leading platform companies. For more information, visit growthcatalystpartners.com.
David SigelMarketing Director
E-mail: [email protected]