M&A Deal Summary

TPG Global and Thoma Bravo Acquires Nintex

On February 9, 2018, asset manager TPG Global and private equity firm Thoma Bravo acquired information technology company Nintex from Updata Partners and TA Associates

Acquisition Highlights
  • This is TPG Global’s 18th and Thoma Bravo’s 20th transaction in the Information Technology sector.
  • This is TPG Global’s 207th and Thoma Bravo’s 62nd transaction in the United States.
  • This is TPG Global’s 6th and Thoma Bravo’s 2nd transaction in Washington.

M&A Deal Summary

Date 2018-02-09
Target Nintex
Sector Information Technology
Buyer(s) TPG Global
Thoma Bravo
Sellers(s) Updata Partners
TA Associates
Deal Type Secondary Buyout

Target

Nintex

Bellevue, Washington, United States
website
Nintex engages in intelligent process automation (IPA) with more than 7,500 enterprise clients and 1,700 partners in 90 countries who have built and published millions of workflow applications. With its unmatched breadth of capability and platform support delivered by unique architectural capabilities, Nintex empowers the line of business and IT departments to quickly automate, orchestrate and optimize hundreds of manual processes to progress on the journey to digital transformation. Nintex Workflow Cloud, the company’s cloud platform, connects with all content repositories, systems of record, and people to consistently fuel successful business outcomes. Nintex was founded in 2006 and is based in Bellevue, Washington.

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Buyer(S) 2

Buyer

TPG Global

Fort Worth, Texas, United States

Investor Investor Investor Investor

website


Category Asset Manager
Founded 1992
PE ASSETS 96.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 313 of 389
Sector (Information Technology) 18 of 26
Type (Secondary Buyout) 40 of 57
State (Washington) 6 of 8
Country (United States) 207 of 258
Year (2018) 5 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-19 TRACE

Clichy, France

TRACE is a global multi-platform media and entertainment company that is recognized as the leading youth media brand in Sub-Saharan Africa. TRACE was founded in 2003 and is based in Clichy, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-15 Reflektive

San Francisco, California, United States

Reflektive is a provider of performance management and analytics solutions for HR leaders and their agile organizations. The Company offers an innovative, employee-centric suite dedicated to talent development and employee success. Reflektive was founded in 2014 and is based in San Francisco, California.

Buy -
Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1980
PE ASSETS 91.0B USD
SizeMega
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 and 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 has offices in San Francisco and Chicago.


DEAL STATS #
Overall 64 of 121
Sector (Information Technology) 20 of 31
Type (Secondary Buyout) 16 of 30
State (Washington) 2 of 2
Country (United States) 62 of 109
Year (2018) 2 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-17 Motus

Boston, Massachusetts, United States

Motus is a technology-driven provider of vehicle management and reimbursement solutions and other mobile workforce management tools. The company provides a sophisticated configuration engine that incorporates real-time data across hundreds of variables to drive significant cost reductions for companies reimbursing employees for business miles driven while helping to ensure regulatory compliance. Motus was founded in 2004 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 Bomgar

Ridgeland, Mississippi, United States

Bomgar Corp. is a provider of secure access solutions. Bomgar enables customers to quickly access and protect endpoints, defend privileged credentials, and support technology end-users to help businesses fight cyber threats while speeding performance. Bomgar Corp. was founded in 2003 and is based in Ridgeland, Mississippi.

Sell -

Seller(S) 2

SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.0B USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $10 and $25 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 34 of 41
Sector (Information Technology) 6 of 7
Type (Secondary Buyout) 4 of 6
State (Washington) 1 of 1
Country (United States) 32 of 39
Year (2018) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-17 Mashable

New York, New York, United States

Mashable, Inc., is a digital media and online news company focused on digital innovation, social media, and technology news. Mashable gained popularity as an early example of profitable digital media shortly after its founding in 2005. Its viral blog style spread quickly and easily on social media, making it a hit with advertisers looking for the easy-to-calculate readership metrics that Facebook and Twitter virality provided.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-12 XebiaLabs

Burlington, Massachusetts, United States

XebiaLabs, Inc. is a provider of automation software for DevOps and Continuous Delivery helping companies accelerate the delivery of new software. XebiaLabs was formed in 2008 and is based in Boston, Massachusetts.

Sell -
SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 36.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

TA Associates Management LP 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 $50 and $500 million per transaction. TA currently manages approximately $24 billion of capital and proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $150 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 up to $75 million. TA's geographic preference is North America and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 209 of 249
Sector (Information Technology) 17 of 21
Type (Secondary Buyout) 33 of 44
State (Washington) 4 of 6
Country (United States) 183 of 205
Year (2018) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Solabia Group

Pantin, France

Solabia Group is a manufacturer of natural active ingredients for the cosmetic, pharmaceutical, nutraceutical and microbiology industries. Solabia also produces culture media, supplements, detection kits and peptones for the food testing and pharmaceutical industries. Solabia Group was founded in 1972 and is based in Pantin, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-14 Confluence

Pittsburgh, Pennsylvania, United States

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.

Buy -