Steele Announces Acquisition of Compliance Wave
October 4th, 2017
SAN FRANCISCO–(BUSINESS WIRE)–Steele Compliance Solutions, Inc. (“Steele”) today announced its acquisition of Compliance Wave LLC (“Compliance Wave”). Compliance Wave enhances Steele’s position as a leader in the compliance industry by adding extensive training and awareness content to Steele’s third-party compliance management software and due diligence services.
Compliance Wave is an innovative leader in compliance micro-training content. With an impressive client base of Fortune 500 companies, Compliance Wave provides a library of over 2,000 micro-learning & communication tools in more than 30 languages. The content provides short, engaging and retainable information that is not only fun for the end user to consume, but is highly effective in getting complex compliance concepts through in a meaningful way.
Compliance Wave adds to Steele’s already robust compliance portfolio and supports Steele’s strategy to provide an end-to-end compliance offering to its clients. The addition of training content to Steele’s industry-leading third-party management solutions allows compliance programs to instill a culture of compliance throughout both their organization and the third parties they do business with.
“As we increase our footprint in the compliance market and listen to clients’ objectives, learning content is a critical component in helping compliance officers create a compliance culture,” said Eric Lochner, Steele’s CEO. “What is great about Compliance Wave’s content is that it drives that engagement and positive change without creating training fatigue. It brings risk-related issues to the forefront for vendors and employees in a way that is exciting and compelling.”
Today, Steele is the leader in third-party lifecycle management and due diligence. Steele serves large multinational companies through the unique combination of third-party management automation software and unparalleled due diligence services.
Current Compliance Wave CEO, Joel Rogers, and Co-founder, Jay Sullivan, will remain actively involved in the success of Steele and Compliance Wave, as will their teams. Joel will take on the role of Managing Director, Training Solutions, while Jay will continue to lead the creative content design process as Steele’s Chief Creative Officer, Training Solutions.
“We are excited to broaden the reach of our learning content and to be joining the Steele family,” commented Rogers. “We have a great deal of passion in bringing meaningful learning content to the compliance industry and this will be a great way to expand our reach and continue to innovate.”
Goodwin Procter LLP and K&L Gates LLP served as legal advisors to Steele and Compliance Wave, respectively, while Corporate Fuel served as the sole and exclusive advisor to Compliance Wave in connection with the transaction. Steele is a portfolio company of Bregal Sagemount, a growth-focused private capital firm based in New York. Terms of the transaction were not disclosed.
About Steele Compliance Solutions
Steele Compliance is a global compliance intelligence firm offering comprehensive third-party due diligence and software-as-a-service (SaaS) solutions that help organizations comply with regulatory requirements and align with best practices. With more than 26 years of experience, Steele Compliance provides Fortune 1000 companies and mid-sized enterprises with pragmatic solutions, including Regulatory Due Diligence, Third-Party Program Advisory Services, Program Management Services, and Compliance Workflow, Analytics, and Benchmarking. With engagements in over 190 countries, Steele Compliance delivers local and regional expertise with ‘on-the-ground’ resources. For additional information regarding risk-based third-party management, call +1.415.692.5000, email firstname.lastname@example.org, or visit www.steeleglobal.com.