Carlyle, Insight Partners back supply chain software provider

The Carlyle Group and Insight Partners have teamed to acquire a majority stake in Exiger, a company that focuses on supply chain management software.

Exiger will use that backing to further invest in its artificial intelligence products with the goal of expanding its customer and user base. Exiger's current management team, founders and existing investor Carrick Capital Partners will also put equity into the company.

Terms of the transaction announced Tuesday were not disclosed, while its completion is subject to regulatory approvals.

Exiger describes its user base in government as including 50 agencies, while approximately 150 private sector customers are on the Fortune 500.

Carlyle and Insight Partners are examples of private equity investors that are looking for so-called “dual-use” technologies, which are in use across commercial sectors and show promise for scaling into government missions. Carlyle’s technology and government services teams worked together to identify Exiger as an investment opportunity.

Exiger designed its AI platform to look at the risk landscape that includes foreign ownership, control or influence; environmental, social and governance; cyber; finances; reputational; national security; regulations; products; and operations.

Alvarez & Marsal, Boston Consulting Group, Nextfed, and PricewaterhouseCoopers acted as advisers to Carlyle and Insight Partners. Union Square Advisors and Latham & Watkins also advised Carlyle, while Deutsche Bank and Willkie Farr & Gallagher LLP advised Insight.

Jefferies worked as exclusive financial adviser to Exiger, whose legal adviser was Sidley Austin. Ernst & Young and McKinsey & Company also advised Exiger.