Liberty Hall Capital Partners Announces Merger of Comply365 and Vistair
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Liberty Hall Capital Partners Announces Merger of Comply365 and Vistair

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CHARLESTON, S.C., BELOIT, Wis. and BRISTOL, England, -- Liberty Hall Capital Partners ("Liberty Hall"), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, announced today the merger of Comply365, LLC ("Comply365"), an existing Liberty Hall portfolio company, and Vistair Limited ("Vistair") to create a leading global provider of compliance, safety and data intelligence technologies serving the aviation, defense and rail industries with over 120 customers located in over thirty countries on six continents. Terms of the transaction were not disclosed.

In connection with the merger, Insight Partners, a global software investor, has joined Liberty Hall as an equal investor in the combined business. Rob Morgan, current Chief Executive Officer of Vistair, has been appointed Chief Executive Officer of the combined company and Tom Samuel, current Chief Executive Officer of Comply365, has been appointed Vice Chairman of the combined company's board of directors and will lead the integration of the two businesses.

"Rapidly accelerating digitalization within the aviation, defense and rail markets is driving demand for tailored, efficiency-centric software solutions, and Comply365 and Vistair have emerged as true industry leaders," said Rowan Taylor, Liberty Hall's founding and Managing Partner. "Liberty Hall is pleased to have played a supportive role in Comply365's journey, and we look forward to continued success as Comply365 and Vistair come together to better serve their global customers."

Tom Samuel, current CEO of Comply365 and Vice Chairman of the combined business, continued, "This merger provides us significantly more resources to invest in our mission-critical solutions, better serve our global customers and accelerate technology transformation across the aviation, defense and rail sectors. We have enjoyed our partnership with Liberty Hall over the last three years and look forward to their continued support as we build upon our successes and ensure our customers remain at the heart of everything we do."

Founded in 2007, Beloit, WI-based Comply365 provides SaaS-based, proprietary, mission-critical, enterprise content management solutions solving core pain points across the entire content management lifecycle, including authoring, compliance tracking, workflow management and targeted document distribution. Comply365 represents Liberty Hall's second software as a service investment and the execution of the firm's investment thesis focused on the digitalization occurring within commercial aviation and rail, driving further adoption of digital-based processes and workflows. During Liberty Hall's ownership, Comply365 has achieved record financial performance and is today the most widely used distribution and authoring platform in aviation and rail with over 80 customers globally, including over 30 customers signed in the last three years.

James Black, Principal at Liberty Hall, added, "We have worked closely with Tom and his team to execute strategic investments in people and technology to accelerate growth and extend product differentiation. Insight Partner's investment is a testament to the accomplishments of the Comply365 team, and we look forward to working with Rob, Tom and our partners at Insight to support the combined company's next phase of growth, including expanding the combined company's product offerings and delivering greater value to our collective customers."

Lincoln International served as financial advisor to Comply365 and Harris Williams and Lincoln International served as financial advisors to Insight Partners and Liberty Hall. Legal advice to Comply365 and Liberty Hall was provided by Gibson Dunn & Crutcher and legal advice to Insight Partners was provided by Willkie Farr & Gallagher.

Houlihan Lokey served as financial advisor to Vistair. Legal advice was provided by Osborne Clarke.

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