Investment Summary

Thoma Bravo Invests In Foundation Software

On August 4, 2020, private equity firm Thoma Bravo invested in software company Foundation Software

Investment Highlights
  • This is Thoma Bravo’s 40th transaction in the Software sector.
  • This is Thoma Bravo’s 84th transaction in the United States.
  • This is Thoma Bravo’s 2nd transaction in Ohio.

Investment Summary
Date 2020-08-04
Target Foundation Software
Sector Software
Investor(s) Thoma Bravo
Deal Type Growth Capital
Advisor(s) Benesch, Friedlander, Coplan & Aronoff (Legal)

Target

Foundation Software

Strongsville, Ohio, United States
Foundation Software is a provider of construction accounting software and payroll services for small- to mid-sized specialty contractors. The Company also offers payroll processing and construction reporting services to the construction industry. Foundation Software was founded in 1985 and is based in Strongsville, Ohio.

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Investor(S) 1

Investor

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 92 of 139
Sector (Software) 40 of 59
Type (Growth Capital) 8 of 17
State (Ohio) 2 of 2
Country (United States) 84 of 120
Year (2020) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-20 Majesco

Morristown, New Jersey, United States

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate, and connect to build the future of their business and the future of insurance at speed and scale. The company's platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling, and personal. Majesco was founded in 1992 and is based in Morristown, New Jersey.

Buy $594M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-06 Ellie Mae

Pleasanton, California, United States

Ellie Mae automates and digitizes the trillion-dollar residential mortgage industry. Through its Digital Lending Platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its over 3,000 customers and thousands of partners and investors participating in the open networks who provide liquidity to the market. Lenders rely on Ellie Mae to securely manage and facilitate the exchange of data across the ecosystem to enable the origination of mortgages while maintaining strict adherence to various local, state, and federal compliance requirements. Ellie Mae was formed in 1997 and is based in Pleasanton, California.

Sell $11.0B
Mergr

Product

Company

Legal