M&A Deal Summary

Thoma Bravo Acquires Frontline Education

On August 4, 2017, private equity firm Thoma Bravo acquired internet software and services company Frontline Education

Acquisition Highlights
  • This is Thoma Bravo’s 5th transaction in the Internet Software and Services sector.
  • This is Thoma Bravo’s 58th transaction in the United States.
  • This is Thoma Bravo’s 6th transaction in Pennsylvania.
Investment Fate
  • Frontline Education was sold to a publicly-traded strategic buyer in 2022 for 3.7B USD.

M&A Deal Summary
Date 2017-08-04
Target Frontline Education
Sector Internet Software and Services
Buyer(s) Thoma Bravo
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) UBS Investment Bank (Financial)
Willkie Farr & Gallagher
Cooley LLP (Legal)

Target

Frontline Education

Malvern, Pennsylvania, United States
website
Frontline Education is a provider of cloud-based K-12 software that empowers more than 7,500 school districts and millions of educators to positively impact student learning. Frontline Education was founded in 1998 and is based in Malvern, Pennsylvania.

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Buyer(S) 1

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 60 of 133
Sector (Internet Software and Services) 5 of 25
Type (Buyout (LBO, MBO, MBI)) 16 of 26
State (Pennsylvania) 6 of 7
Country (United States) 58 of 116
Year (2017) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-17 Sparta Systems

Hamilton, New Jersey, United States

Sparta Systems is a provider of quality management software to the pharmaceutical, medical device, and consumer products industries. Sparta’s software solutions help improve quality outcomes and incident response, with improved regulatory compliance and lower administrative costs. Its flagship platform, TrackWise, is used by 35 of the top 40 pharma companies and 13 of the top 15 medical device manufacturers. Sparta has over 825,000 individual users overall across more than 30 countries. Sparta Systems was formed in 1994 and is based in Hamilton, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-08 ABC Fitness Solutions

Sherwood, Arizona, United States

ABC Fitness Solutions is a provider of software and related services for the health and fitness industry. ABC Fitness Solutions was founded in 1981 and is based in Sherwood, Arizona.

Buy -
Mergr

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Company

Legal