Global alternative asset firm TPG (Nasdaq: TPG) has agreed to place up to $228 million strategic majority investment in supply chain risk intelligence provider Sayari to support the latter’s new platform launch and global expansion efforts.
Both companies expect to close the transaction in the first quarter of 2024, subject to customary regulatory conditions, TPG said Tuesday.
“This strategic partnership marks a crucial milestone in Sayariâs journey to revolutionize the landscape of risk intelligence technology as we launch our second product, a new fully automated supply chain screening platform leveraging our industry leading knowledge graph alongside cutting edge technologies,” said Farley Mesko, co-founder and CEO of Sayari.
Mesko, along with Sayari’s founders, employees and existing investors, will maintain a substantial ownership position in the company following the deal’s completion.
Established in 2015, Sayari offers risk intelligence to support investigations, analytics and supply chain risk management.
The investment will back the launch of Sayari’s new artificial intelligence-powered supply chain illumination platform designed to extract insights from global supply chain data sources.
Goldman Sachs and Kirkland & Ellis served as financial adviser and legal counsel, respectively, to TPG in the transaction, while William Blair acted as financial adviser and Manatt, Phelps & Phillips served as legal counsel to to Sayari.
