April 17, 2017 – PAS, a provider of industrial control system (ICS) cybersecurity, process safety, and asset reliability solutions for the energy, power, and process industries, announced a $40 million growth investment by Tinicum, L.P. and certain affiliated funds managed by Tinicum Incorporated (“Tinicum”). Tinicum is a private investment partnership focused on late stage investments in manufacturing, energy, technology, media, and infrastructure.
This funding round will expand PAS sales and marketing across its global offices as well as increase research and development for Cyber Integrity, its flagship cybersecurity software product. Cyber Integrity protects critical infrastructure from risks associated with rising industrial internet of things (IoT) adoption, malicious cyber attacks, and insider threats.
Industrial control systems have a responsibility for running critical infrastructure safely and reliably. These systems have traditionally relied on complexity, air gapping, and perimeter-based defenses to remain secure. PAS Cyber Integrity deciphers the complex, proprietary configurations of control systems giving companies complete visibility into critical cyber assets. It also identifies unauthorized changes, exposes vulnerabilities, drives compliance, and helps facilities recover in the event of a worst-case scenario. Cyber Integrity works across the heterogeneous automation environment, providing enterprise scalability, performance, and platform independence.
Signal Hill served as the exclusive financial advisor to PAS on the transaction. In conjunction with the investment, Plant Automation Services, Inc. (“PAS”) has reorganized under the new name PAS Global, LLC.