Quadrant PE acquires stakes in NZ security firms

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Quadrant PE acquires stakes in NZ security firms

Sydney's Quadrant Private Equity fund has brought three information security companies in the New Zealand capital Wellington.

Through its $530 million Growth Fund No 2, Quadrant has taken interests in security companies ZX, Helix and Quantum.

Quadrant is partnering with, and investing in each business "typically cut cheques between $40 million and $100 million" in each, a spokesperson told CRN Australia.

Eugene Gibney, founder of Quantum, said partnering with the two other security firms and Quadrant will help accelerate talent acquisition and combine each other's strengths to create a culturally aligned leading cyber security specialist group, with an expanded service offering, capable of helping more customers uplift their cyber security maturity.

The group will have over 120 team members together, and Quadrant said the companies in it have jointly grown revenue by over a third for the past three years.

All staff will be retained, the spokesperson said, and the companies will keep their own brands.

Managing partner Simon Pither and Quadrant's investment director Louise Haslehurt will join the board of directors for the group.

ZX, Helix and Quantum count over 200 enterprise and government customers between them.

Together, they provide a range of security services, from governance, risk and compliance, penetration testing, cloud, and cyber strategy.

In December last year, Quadrant invested in cloud services providers Arinco, Cevo and D6, also through its Growth Fund No 2.

Wellington has long been the cynosure of New Zealand's information security industry, and the home of popular conferences such as Kiwicon and Kawaiicon.

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