Foley Advises Fortress Information Security in $125M Strategic Investment from Goldman Sachs Asset Management

19 April 2022 Media Contact: Jen Dilworth News

Foley & Lardner LLP acted as legal advisor to Fortress Information Security (“Fortress”), a leading supply chain cybersecurity provider for critical infrastructure industries, in a $125 million strategic investment from funds managed by the Private Equity business within Goldman Sachs Asset Management (“Goldman Sachs”). The investment will further support Fortress’s mission of securing U.S. critical industries from cybersecurity and operational threats emanating from their supply chains.

The growth capital investment by Goldman Sachs will help scale Fortress’s Asset-to-Vendor network, which provides significant value to critical infrastructure suppliers and customers. The investment capital also accelerates the expansion of the Fortress platform into compelling product adjacencies such as software and hardware bill of materials, workflow orchestration, and additional analytics and reporting tools. Existing investors, including Fortress Co-founders Peter Kassabov and Alex Santos, ClearSky, First Analysis, and American Electric Power, will continue to support Fortress in their current capacity.

Based in Orlando, Florida, Fortress is the only end-to-end platform that connects intelligence surrounding vendors, information technology and operational technology assets, and software through a holistic, fit-for-purpose approach. The Fortress platform enables customers in critical industries to assess, mitigate, and remediate risks associated with vendors, assets, and software in their supply chains and enhance cybersecurity postures and compliance with relevant regulations. The Fortress solution was co-developed with leading electric utilities and has since grown into a consortium tool for the U.S. electric utility industry led by leading anchor customers, comprising five of North America’s ten largest investor-owned utilities.

The Foley deal team was led by Partner Michael Okaty and included Partners Brandee Diamond, Greg Neppl, John Palmer, Daniel Rose, Christopher Swift and Erin Toomey, Special Counsel Sharal Henderson and Mark Scimeca, Senior Counsel Libby Ridley and Julia Di Vito, and Associates Melody Deatherage, Dan Noffsinger and William McCaughey.

About Foley & Lardner LLP

Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With approximately 1,100 lawyers in 25 offices worldwide, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.

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