M&A Deal Summary

Clearlake Capital Acquires Confluence

On June 17, 2021, private equity firm Clearlake Capital acquired internet software and services company Confluence from TA Associates

Acquisition Highlights
  • This is Clearlake Capital’s 13th transaction in the Internet Software and Services sector.
  • This is Clearlake Capital’s 66th transaction in the United States.
  • This is Clearlake Capital’s 2nd transaction in Pennsylvania.

M&A Deal Summary
Date 2021-06-17
Target Confluence
Sector Internet Software and Services
Buyer(s) Clearlake Capital
Sellers(s) TA Associates
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley (Financial)
K&L Gates (Legal)

Target

Confluence

Pittsburgh, Pennsylvania, United States
website
Confluence is a financial services data management software platform that offers mission-critical regulatory, investor communications, and performance reporting solutions to the global asset management industry. Confluence is uniquely positioned as the only unified data-driven software platform that enables asset managers and global and regional fund administrators to automate various communications and reporting to shareholders and regulators. Confluence was founded in 1991 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

Clearlake Capital

Santa Monica, California, United States

website

Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 69 of 86
Sector (Internet Software and Services) 13 of 14
Type (Secondary Buyout) 29 of 37
State (Pennsylvania) 2 of 3
Country (United States) 66 of 82
Year (2021) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 Janus International

Temple, Georgia, United States

Janus International is a global turnkey supplier of premium doors, hallway systems, locks, interior solutions, and ancillary technologies to the self-storage, commercial construction, and other industrial sectors. Janus International was founded in 2002 and is based in Temple, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Bakemark

Pico Rivera, California, United States

Bakemark is a specialty distribution platform serving as a critical link between bakery ingredients manufacturers and national and local bakeries. BakeMark is a vertically integrated supply chain partner and specialty distributor to 19,000+ customers across all major bakery channels, providing a broad portfolio of 7,000+ active SKUs and value-added services. Bakemark was founded in 1909 and is based in Pico Rivera, California.

Buy -

Seller(S) 1

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 237 of 255
Sector (Internet Software and Services) 12 of 14
Type (Secondary Buyout) 45 of 49
State (Pennsylvania) 14 of 14
Country (United States) 198 of 207
Year (2021) 8 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Paula s Choice

Kent, Washington, United States

Paula's Choice is one of the largest digitally-native beauty brands in the world. Paula Begoun, Paula’s Choice has grown into a leading global skincare brand with a diversified geographic reach, a methodically curated product offering, and a loyal customer base that is supported by a global direct-to-consumer (“DTC”) model. Paula's Choice was founded in 1984 and is based in Kent, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-18 CCRM Fertility

Louisville, Colorado, United States

CCRM Fertility is an international network of in vitro fertilization (IVF) laboratories. CCRM’s mission is to bring together leaders in reproductive medicine to ensure birth rates that consistently exceed industry standards, provide excellence in patient care, and advance the future of IVF through research and development. CCRM Fertility was founded in 1987 and is based in Louisville, Colorado.

Sell -
Mergr

Product

Company

Legal