Agility Recovery, which provides business continuity services for banking and insurance companies, has acquired Recovery Solutions of Chicago, Illinois.
This is M&A deal 416 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Agility Recovery, based in Denver, Colorado, is backed by private equity firm LLR Partners. Agility Recovery’s business continuity solution help customers plan, train, test, alert and recover from outages.
In contrast, Recovery Solutions provides purpose-built, audit-ready compliance solutions for banks and credit unions. Recovery Solutions CEO Rick Lavin will join the Agility team to assist with the transition.
Agility Acquires Recovery Solutions: Executive Perspectives
The deal will help strengthen Agility Recovery’s position in the market while expanding its expertise within the highly regulated financial sector, according to Agility’s CEO Jon Bahl, who said:
“The need for business continuity options in the banking and financial services sector continues to escalate as compliance throughout the entire supply chain grows in importance. Recovery Solutions established a proven process for audit-ready compliance testing and reporting that matches FFIEC guidelines and makes it easy for banks to achieve and maintain compliance throughout their entire supply chain. Integrating the company with Agility helps us further deliver on our promise to help businesses achieve resiliency, especially within the highly regulated banking and financial sector.”
“We are excited to join the Agility family, bringing our depth within the financial sector, and scaling deep industry knowledge through Agility’s more than 4,000 customers, especially those operating within the financial sector.”
This is Agility’s third acquisition in less than two years. In February 2019, the company acquired Preparis, a SaaS emergency notification system. In December 2018, Agility purchased Rentsys to expand its workspace recovery solutions offering.