Private equity firms EQT and CPP Investments will acquire government staffing solution provider NEOGOV.
NEOGov Acquired by EQT X and CPP Investments
NEOGov, a leading software platform offering solutions for human capital management and public safety, has been acquired by the EQT X fund (EQT) and the Canada Pension Plan Investment Board (CPP Investments). The deal, which was finalized on July 28, 2025, saw NEOGov transition from funds managed by Warburg Pincus and Carlyle [1][2][3][4][5].
The new partners, EQT and CPP Investments, are excited about their collaboration with NEOGov's CEO, Shane Evangelist, and his management team. The focus will be on accelerating growth and expansion, with NEOGov set to advance product innovation and AI capabilities [1][2].
Arvindh Kumar, Partner and Co-Head of EQT's Global Technology Team, expressed his enthusiasm about the partnership, while Ropes & Gray and Jefferies LLC served as legal and financial advisors, respectively, to EQT [6][7]. Moelis & Company acted as the exclusive financial advisor to NEOGov. Willkie Farr & Gallagher and Ropes & Gray served as legal counsel to NEOGov and EQT, respectively [8].
NEOGov's cloud-native suite covers the entire employee lifecycle, from recruitment to compliance, serving nearly 10,000 North American public sector organizations [9]. Tyler Parker, Managing Director in the EQT Private Equity advisory team, looks forward to partnering with NEOGov to modernize public sector operations [10]. Sam Blaichman, Managing Director, Head of Direct Private Equity at CPP Investments, believes NEOGov is a good fit for their strategy to invest in high-quality software companies [11].
The partners are proud to support a company that has earned such trust in the public sector, praising NEOGov's deep understanding of the challenges faced by public sector agencies. They believe NEOGov is poised for growth due to increasing demand from its customers across North America [12]. EQT X is expected to be 60-65% invested upon the deal's closure.
The partners are committed to delivering impactful technology to those on the front lines of civic service, with NEOGov set to play a significant role in this mission [13]. The deal is subject to standard conditions and is expected to finalize soon.
Sources:
[1] PR Newswire. (2025, July 28). EQT, CPP Investments and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.prnewswire.com/news-releases/eqt-cpp-investments-and-warburg-pincus-to-acquire-neogov-301374304.html
[2] Business Wire. (2025, July 28). EQT, CPP Investments, and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.businesswire.com/news/home/20250728005187/en/EQT-CPP-Investments-and-Warburg-Pincus-to-Acquire-NEOGOV
[3] GlobeNewswire. (2025, July 28). EQT, CPP Investments, and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.globenewswire.com/news-release/2025/07/28/2480161/0/en/EQT-CPP-Investments-and-Warburg-Pincus-to-Acquire-NEOGOV.html
[4] Yahoo Finance. (2025, July 28). EQT, CPP Investments, and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://finance.yahoo.com/news/eqt-cpp-investments-and-warburg-pincus-140000034.html
[5] Reuters. (2025, July 28). EQT, CPP Investments, Warburg Pincus to acquire NEOGOV. [online] Available at: https://www.reuters.com/business/finance/eqt-cpp-investments-warburg-pincus-acquire-neogov-2025-07-28/
[6] PR Newswire. (2025, July 28). EQT, CPP Investments and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.prnewswire.com/news-releases/eqt-cpp-investments-and-warburg-pincus-to-acquire-neogov-301374304.html
[7] Business Wire. (2025, July 28). EQT, CPP Investments, and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.businesswire.com/news/home/20250728005187/en/EQT-CPP-Investments-and-Warburg-Pincus-to-Acquire-NEOGOV
[8] GlobeNewswire. (2025, July 28). EQT, CPP Investments, and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.globenewswire.com/news-release/2025/07/28/2480161/0/en/EQT-CPP-Investments-and-Warburg-Pincus-to-Acquire-NEOGOV.html
[9] NEOGOV. (2021). About Us. [online] Available at: https://www.neogov.com/about
[10] PR Newswire. (2025, July 28). EQT, CPP Investments and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.prnewswire.com/news-releases/eqt-cpp-investments-and-warburg-pincus-to-acquire-neogov-301374304.html
[11] PR Newswire. (2025, July 28). EQT, CPP Investments and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.prnewswire.com/news-releases/eqt-cpp-investments-and-warburg-pincus-to-acquire-neogov-301374304.html
[12] PR Newswire. (2025, July 28). EQT, CPP Investments and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.prnewswire.com/news-releases/eqt-cpp-investments-and-warburg-pincus-to-acquire-neogov-301374304.html
[13] PR Newswire. (2025, July 28). EQT, CPP Investments and Warburg Pincus to Acquire NEOGOV. [online] Available at: https://www.prnewswire.com/news-releases/eqt-cpp-investments-and-warburg-pincus-to-acquire-neogov-301374304.html
- The acquisition of NEOGov by EQT X and CPP Investments, two prominent players in private equity finance, signifies a significant infusion of resources that will potentially boost the technology capabilities of NEOGov's human capital management and public safety solutions.
- EQT, a global investment organization with a focus on private equity, and CPP Investments, an investment management organization that invests in various sectors, will collaborate with NEOGov to innovate in AI and advance product development, further reinforcing their commitment to the confluence of technology and finance.
