Control Risks, a renowned global strategic intelligence and security firm, has announced plans to restructure certain segments of its operation. Specifically, the company will be spinning off its Discovery + Data Insights and Forensics divisions into a new, independent entity. This spin-off will initially operate under the provisional name, Control Risks – Compliance, Investigations & eDiscovery.
The new entity will come under the ownership of private equity firm, Beringer Capital, which is set to invest in expanding the company’s offerings. Control Risks will maintain a notable equity stake in this new venture and continue a strategic partnership, although the exact figures remain undisclosed.
The completion of this transaction is anticipated by the end of this year. Until then, Discovery + Data Insights and Forensics will remain part of Control Risks, conducting operations as usual. The spin-off aims to create a specialized company focused on aiding organizations in tackling intricate risks related to litigation, investigations, and regulatory challenges.
With a separate organizational structure, the new company expects to boost its investments in talent, technology, and forensic and investigative capabilities alongside discovery and data analytics. Geographic expansion is also on the agenda, aiming to bolster its global footprints.
At the helm of the new entity will be Georges Sabongui, who will function as the Chief Executive Officer. Sabongui brings extensive expertise with over two decades of experience in leading and expanding legal technology and e-discovery businesses. He held the position of CEO at CloudNine from 2021 to 2024, and was the chief commercial officer at X1 from 2019 to 2021.
“Operating as a dedicated company will give us the focus and resources to invest more aggressively in the areas that matter most to our clients, including talent, technology, innovation and expanded capabilities,” Sabongui noted in the announcement. “We intend to move quickly and build on what this team already does exceptionally well.”
The transition will involve the transfer of all Control Risks Discovery + Data Insights and Forensics teams from regions including the Americas, EMEA, and APAC to the newly formed company. This transfer will also encompass current partners Michele Wiener, Brad Kolacinski, John Kim, and Brian Mich.
The CEO of Control Risks, Bill Udell, expressed enthusiasm about the spinoff, commenting, “Our agreement with Beringer Capital heralds an exciting new chapter. Clients in the future will benefit from additional focus and investment across capabilities, innovation and an outstanding team.”
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