M&A Deal Summary

Thoma Bravo and Alberta Investment Management Acquire Proofpoint

On April 26, 2021, private equity firm Thoma Bravo and pension Alberta Investment Management acquired internet software and services company Proofpoint for 12.3B USD

Acquisition Highlights
  • This is Thoma Bravo’s 15th and Alberta Investment Management’s 3rd transaction in the Internet Software and Services sector.
  • This is Thoma Bravo’s and Alberta Investment Management’s largest (disclosed) transaction.
  • This is Thoma Bravo’s 94th and Alberta Investment Management’s 12th transaction in the United States.
  • This is Thoma Bravo’s 23rd and Alberta Investment Management’s 2nd transaction in California.

M&A Deal Summary
Date 2021-04-26
Target Proofpoint
Sector Internet Software and Services
Buyer(s) Thoma Bravo
Alberta Investment Management
Deal Type Going Private
Deal Value 12.3B USD
Advisor(s) Morgan Stanley (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Proofpoint

Sunnyvale, California, United States
Proofpoint is a security-as-a-service provider that focuses on cloud-based solutions for threat protection, compliance, archiving & governance, and secure communications. Proofpoint was founded in 2002 and is based in Sunnyvale, California.

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Buyer(S) 2

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

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 104 of 139
Sector (Internet Software and Services) 15 of 27
Type (Going Private) 24 of 39
State (California) 23 of 31
Country (United States) 94 of 120
Year (2021) 6 of 19
Size (of disclosed) 1 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 Empirix

Billerica, Massachusetts, United States

Empirix is end-to-end network performance visibility with the unique ability to analyze customer behaviors, by application, in real-time, through an innovative approach to enabling the build-out of the Service Operations Center model. Empirix helps service providers, mobile operators, contact centers, and businesses master complexities to drive customer experience and user satisfaction improvements. Through testing, monitoring, analytics, and intelligence, Empirix helps companies around the world maximize their technology investments while reducing implementation and customer impact risks. Empirix was founded in 2000 and is based in Billerica, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Infogix

Naperville, Illinois, United States

Infogix is a developer and marketer proprietary suite of unique, automated, end-to-end software solutions to help corporate customers control and monitor, analyze and improve their data accuracy. Infogix was founded in 1982 and is based in Naperville, Illinois.

Sell -
Buyer

Alberta Investment Management

Investor Investor Investor Investor Investor

Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.

DEAL STATS #
Overall 26 of 30
Sector (Internet Software and Services) 3 of 4
Type (Going Private) 3 of 3
State (California) 2 of 3
Country (United States) 12 of 15
Year (2021) 4 of 6
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-22 Iguá Saneamento

Sao Paulo, Brazil

Iguá Saneamento manages and operates water supply and sewage systems through concessions and public-private partnerships. The Company’s activities include water collection, treatment, overall water distribution, sewage collection and treatment, as well as project formulation and technical studies. Iguá Saneamento is based in Sao Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 Environmental Resources Management

London, United Kingdom

Environmental Resources Management is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management was founded in 1871 and is based in London, United Kingdom.

Sell -
Mergr

Product

Company

Legal