M&A Deal Summary

Thoma Bravo and TPG Acquire Nintex

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

Acquisition Highlights
  • This is Thoma Bravo’s 19th and TPG’s 19th transaction in the Information Technology sector.
  • This is Thoma Bravo’s 63rd and TPG’s 208th transaction in the United States.
  • This is Thoma Bravo’s 2nd and TPG’s 5th transaction in Washington.

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

Target

Nintex

Bellevue, Washington, United States
Nintex is a provider of 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

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 65 of 139
Sector (Information Technology) 19 of 35
Type (Secondary Buyout) 16 of 31
State (Washington) 2 of 2
Country (United States) 63 of 120
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 -
Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
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 315 of 421
Sector (Information Technology) 19 of 31
Type (Secondary Buyout) 44 of 72
State (Washington) 5 of 6
Country (United States) 208 of 276
Year (2018) 5 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-24 Benevity

Calgary, Alberta, Canada

Benevity is a provider of corporate social responsibility and employee engagement software that allows companies to automate processes for online workplace giving, volunteering, and community investment with a social mission of “doing well by doing good.” Benevity was founded in 2008 and is based in Calgary, Alberta.

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 -

Seller(S) 2

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

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 210 of 255
Sector (Information Technology) 17 of 21
Type (Secondary Buyout) 33 of 49
State (Washington) 4 of 6
Country (United States) 183 of 206
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 -
SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Middle-Market
Type Sector Focused
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 $15 and $100 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 45
Sector (Information Technology) 6 of 9
Type (Secondary Buyout) 4 of 7
State (Washington) 1 of 1
Country (United States) 32 of 40
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 -
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