Chicago-based Waud Capital Partners has committed $150 million of equity capital to an executive partnership with Philippe Ozanian to pursue investments in the HR technology and broader vertical software markets.
Ozanian has created significant value across multiple companies throughout his career. Most recently, he served as CEO at InfoVista, a provider of network performance management software backed by Apax Partners, and previously Thoma Bravo. He has also held HR executive roles at Siemens, Johnson & Johnson and Olivetti.
"We are very excited to partner with Philippe to build a world-class HR technology platform," Waud Capital Partner Justin DuPere said in a statement. "He has created tremendous value throughout his career and brings significant experience and a deep network of relationships across highly attractive markets. The demand for scalable HR solutions is growing rapidly and Philippe's background in both software and human resources will allow us to identify, evaluate and grow the most attractive solutions in the industry."
Ozanian added: "I'm excited by the opportunity to partner with Waud Capital to acquire and grow a business in the HR Technology sector. HR is increasingly becoming a more strategic corporate function and technology is changing dynamics by boosting the attractiveness of third-party solutions. The team at Waud Capital has differentiated themselves through their impressive track record and thesis development within the HR Technology sector as well as deep experience in the broader software industry."
Waud Capital Partners is a growth-oriented private equity firm with total capital commitments of approximately $3 billion since its founding in 1993. The firm seeks to partner with exceptional management teams to build market-leading companies within two industries: healthcare services and business and technology services. Waud Capital has successfully completed more than 280 investments, including platform companies and follow-on opportunities.