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M&A Deal Summary

Thoma Bravo Acquires PCMI

On March 17, 2025, private equity firm Thoma Bravo acquired software company PCMI from Equality Asset Management

Acquisition Highlights
  • This is Thoma Bravo’s 61st transaction in the Software sector.
  • This is Thoma Bravo’s 123rd transaction in the United States.
  • This is Thoma Bravo’s 8th transaction in Illinois.

M&A Deal Summary
Date 2025-03-17
Target PCMI
Sector Software
Buyer(s) Thoma Bravo
Sellers(s) Equality Asset Management
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Goodwin Procter (Legal)

Target

PCMI

Park Ridge, Illinois, United States
PCMI offers a modular package of software solutions for the administration of F&I Products, Service Contracts, and Extended Warranties. PCMI’s SaaS platform, Policy Claim, and Reporting Solutions, supports and automates the full lifecycle of all aftermarket products and provides the most flexible environment for administrators, insurers, OEMs, agents, and dealers to launch new products. PCMI was founded in 2012 and is based in Park Ridge, Illinois.

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Buyer(S) 1

Buyer

Thoma Bravo

Chicago, Illinois, United States

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 142 of 142
Sector (Software) 61 of 61
Type (Secondary Buyout) 34 of 34
State (Illinois) 8 of 8
Country (United States) 123 of 123
Year (2025) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-04 Quorum Software

Houston, Texas, United States

Quorum Software is a portfolio of finance, operations, and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. Quorum Software was founded in 1998 and is based in Houston, Texas.

Sell -

Seller(S) 1

SELLER

Equality Asset Management

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2018
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 Evention

Chicago, Illinois, United States

Evention is a provider of software to hotels, restaurants, and retailers that leverage automation to reinvent legacy accounting processes. Evention’s Software as a Service (SaaS) solutions simplify back-office processes for various verticals from retail to restaurant to grocery, hospitality, casino, and others. Evention is based in Chicago, Illinois.

Buy -
Mergr

Product

Company

Legal