Today, KPA, a leading provider of EHS (Environmental Health, and Safety) and Sales F&I (Sales, Finance, and Insurance) solutions, announced its acquisition of ComplyNet, a dealer compliance software company.
WESTMINSTER, Colo. and COLUMBUS, Ohio, Oct. 18, 2023 /PRNewswire-PRWeb/ -- Today, KPA, a leading provider of EHS (Environmental Health, and Safety) and Sales F&I (Sales, Finance, and Insurance) solutions, announced its acquisition of ComplyNet, a dealer compliance software company. ComplyNet provides end-to-end compliance software, encompassing Privacy and Safeguards (P&S), EHS, and Sales F&I and Advertising, designed for dealers in automotive, RV, power sports, marine, and other adjacent automotive segments.
"As two very well-established, leading organizations with more than 65 combined years of serving the automotive compliance market, KPA and ComplyNet share a vision to provide dealers with compliance software solutions that will reduce workplace injury, avoid compliance violations, and reduce business risk in all areas of the dealership," said Chris Fanning, President and CEO of KPA. "As KPA works to expand our capabilities and expertise, we're excited to join forces with ComplyNet and provide dealers with a powerful, combined set of solutions that will help our mutual customers stay ahead of the compliance curve and provide dealers with a best-in-class, comprehensive, all-in-one solution."
ComplyNet has built a comprehensive solution that helps dealers create a proactive compliance culture. Using a 10-step digital compliance process called Guided Compliance Assistance, supported by the ABLE compliance software suite, ComplyNet enables dealers to proactively address compliance matters including:
- Privacy and Safeguards of information and security to protect consumer privacy and comply with FTC regulations
- EHS training and content to comply with OSHA, EPA, and DOT regulations
- Sales, Finance, and Advertising topics such as deal jacket audits, reviews, Red Flags Rule, Gramm-Leach Bliley Act, and the IRS
"Joining forces with a leading company like KPA is exciting," said ComplyNet's Jeff McCurry, CEO. "ComplyNet is an elite team of determined individuals who have been dedicated to delivering exceptional compliance software to our clients, and we are incredibly proud of the ABLE solution. We are excited to join forces with a true leader in dealership compliance, and together expand on our capabilities and expertise, and the exceptional value we offer to the industry."
In the last several years, government agencies have increased regulations and scrutiny targeting dealerships and other hazardous industries. It has become vital for organizations to proactively manage their compliance and risk by creating and promoting an environment that is safe, secure, and transparent for employees and customers. For over 35 years, KPA has established itself as a best-in-class leader in compliance software and services enabling organizations to stay safe and compliant. KPA has also developed an unmatched end-to-end, award-winning online compliance training catalog, and employs more than 120 expert risk management consultants throughout the US. With the combination of ComplyNet, KPA is even better positioned to meet the needs of customers in an increasingly regulated environment.
With this acquisition, Providence Equity Partners, the majority shareholder in KPA, continues to be committed to investing in the safety and compliance industry. The demand for software and training solutions that help organizations digitize and improve their safety and compliance programs has increased significantly. According to Will Hughes, Managing Director at Providence Equity Partners, "ComplyNet is well suited to join KPA and further accelerate KPA's growth as a leading provider of end-to-end compliance solutions for all hazardous industries."
TD Cowen served as the exclusive financial advisor to KPA in this transaction. Presidio Technology Partners acted as financial advisor to ComplyNet in the transaction.
About KPA
KPA provides Environment, Health & Safety (EHS), and Workforce Compliance solutions for a wide range of businesses. Offering a unique combination of software, services, and award-winning training, KPA helps organizations minimize risk so they can focus on what's important—their core business. For over 30 years, KPA has helped 11,000 + clients comply with regulations, reduce costs, and increase productivity.
About ComplyNet
Founded in 1994 to address the unique risks for auto dealers in the compliance arena, ComplyNet has grown to offer a full set of compliance services for dealers. ComplyNet's mission is to empower dealerships to mitigate risk and fulfill their obligations to their employees and customers by providing innovative compliance solutions that leverage technology, processes and people.
About Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $35 billion across more than 170 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit http://www.provequity.com.
Media Contact
Emily Hartman, KPA, 7173831696, [email protected], www.kpa.io
SOURCE KPA
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