M&A Deal Summary

TPG Acquires NexTech

On July 19, 2023, private equity firm TPG acquired software company NexTech from Thomas H. Lee Partners for 1.4B USD

Acquisition Highlights
  • This is TPG’s 32nd transaction in the Software sector.
  • This is TPG’s 54th largest (disclosed) transaction.
  • This is TPG’s 268th transaction in the United States.
  • This is TPG’s 11th transaction in Florida.

M&A Deal Summary
Date 2023-07-19
Target NexTech
Sector Software
Buyer(s) TPG
Sellers(s) Thomas H. Lee Partners
Deal Type Secondary Buyout
Deal Value 1.4B USD
Advisor(s) William Blair
Raymond James - Investment Banking
Jamieson Corporate Finance LLP (Financial)
Kirkland & Ellis (Legal)

Target

NexTech

Tampa, Florida, United States
NexTech is a fully-integrated, specialty specific, certified EMR, practice management, and marketing software that covers a wide array of specialty practice needs. NexTech was founded in 1997 and is based in Tampa, Florida.

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Buyer(S) 1

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 410 of 421
Sector (Software) 32 of 35
Type (Secondary Buyout) 67 of 72
State (Florida) 11 of 12
Country (United States) 268 of 276
Year (2023) 5 of 8
Size (of disclosed) 54 of 105
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-10 Forcepoint G2CI

Austin, Texas, United States

Forcepoint G2CI is a provider of critical infrastructure IT services to a variety of government clients. The Company is based in Austin, Texas.

Buy $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 New Relic

San Francisco, California, United States

New Relic is a SaaS provider focused on analytics services. New Relic was founded in 2007 and is based in San Francisco, California.

Buy $6.5B

Seller(S) 1

SELLER

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 54 of 54
Sector (Software) 6 of 6
Type (Secondary Buyout) 12 of 12
State (Florida) 5 of 5
Country (United States) 45 of 45
Year (2023) 1 of 1
Size (of disclosed) 11 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Bynder

Amsterdam, Netherlands

Bynder is the fastest way to professionally manage digital files. Its digital asset management (DAM) platform offers marketers a smart way to find and share creative files such as graphics, videos and documents. More than 250,000 brand managers, marketers and creatives from 450+ organizations like PUMA, innocent drinks and KLM Royal Dutch Airlines use Bynder to organize company files; edit and approve projects in real time; auto-format and resize files; and make the right content available to others at the click of a button. Bynder was founded in 2013 and is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-15 Standish Management

San Francisco, California, United States

Standish Management is a provider of specialized fund administration services for Managers and General Partners of private equity funds, generally: Buyout, Venture Capital, Real Estate and Fund-of-Funds. Standish Management was founded in 2007 and is based in San Francisco, California.

Buy $1.6B
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