Investment Summary |
|
|---|---|
| Date | 2025-11-18 |
| Target | Azul Systems |
| Sector | Software |
| Investor(s) |
Thoma Bravo
Vitruvian Partners Lead Edge Capital |
| Sellers(s) |
Vitruvian Partners
Lead Edge Capital |
| Deal Type | Secondary Buyout |
| Advisor(s) | Guggenheim Securities (Financial) Kirkland & Ellis (Legal) |
SEARCH BY
| Category | Private Equity Firm |
|---|---|
| Founded | 1980 |
| PE ASSETS | 127.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
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 | 151 of 151 |
| Sector: Software M&A | 69 of 69 |
| Type: Secondary Buyout M&A Deals | 36 of 36 |
| State: California M&A | 32 of 32 |
| Country: United States M&A | 132 of 132 |
| Year: 2025 M&A | 9 of 9 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-09-22 |
PROS
Houston, Texas, United States PROS is a provider of pricing and revenue optimization software products, specializing in price analytics, price execution, and price optimization. PROS was founded in 1985 and is based in Houston, Texas. |
Buy | $1.4B |
| Category | Private Equity Firm |
|---|---|
| Founded | 2006 |
| PE ASSETS | 20.0B EUR |
| Size | Mega |
| Type | Sector Agnostic |
Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is €40 to €600 million in transactions valued between €75m to €4bn. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.
| DEAL STATS | # |
|---|---|
| Overall | 69 of 69 |
| Sector: Software M&A | 6 of 6 |
| Type: Secondary Buyout M&A Deals | 17 of 17 |
| State: California M&A | 4 of 4 |
| Country: United States M&A | 12 of 12 |
| Year: 2025 M&A | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-11-05 |
Solvinity
Amsterdam, Netherlands Solvinity offers managed cloud and IT services focusing on secure environments for organizations handling sensitive and business-critical information. The Company provides services including IT outsourcing, managed cloud (private, public, hybrid), managed security, and application management, with a strong emphasis on compliance and regulatory standards. Solvinity was founded in 2015 and is headquartered in Amsterdam, Netherlands. |
Sell | - |
| Category | Growth Capital Firm |
|---|---|
| Founded | 2009 |
| PE ASSETS | 5.0B USD |
| Size | Mega |
| Type | Sector Focused |
Lead Edge Capital is a growth capital firm focused on software, internet, consumer, and tech-enabled services companies. The Firm has no geographic preferences and will consider both private and public company investments. Leading Edge's investment size is $25 to $300 million. Lead Edge Capital was established in 2009 and is headquartered in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 54 of 54 |
| Sector: Software M&A | 8 of 8 |
| Type: Secondary Buyout M&A Deals | 3 of 3 |
| State: California M&A | 15 of 15 |
| Country: United States M&A | 44 of 44 |
| Year: 2025 M&A | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-08-20 |
Highway
Dallas, Texas, United States Highway is a technology provider specializing in carrier Identity solutions for freight brokers, empowering them to reduce fraud and streamline the digital booking process. Highway was founded in 2022 and is based in Dallas, Texas. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2006 |
| PE ASSETS | 20.0B EUR |
| Size | Mega |
| Type | Sector Agnostic |
Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is €40 to €600 million in transactions valued between €75m to €4bn. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.
| DEAL STATS | # |
|---|---|
| Overall | 25 of 25 |
| Sector: Software M&A | 4 of 4 |
| Type: Secondary Buyout M&A Deals | 7 of 7 |
| State: California M&A | 1 of 1 |
| Country: United States M&A | 1 of 1 |
| Year: 2025 M&A | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-11-05 |
Solvinity
Amsterdam, Netherlands Solvinity offers managed cloud and IT services focusing on secure environments for organizations handling sensitive and business-critical information. The Company provides services including IT outsourcing, managed cloud (private, public, hybrid), managed security, and application management, with a strong emphasis on compliance and regulatory standards. Solvinity was founded in 2015 and is headquartered in Amsterdam, Netherlands. |
Sell | - |
| Category | Growth Capital Firm |
|---|---|
| Founded | 2009 |
| PE ASSETS | 5.0B USD |
| Size | Mega |
| Type | Sector Focused |
Lead Edge Capital is a growth capital firm focused on software, internet, consumer, and tech-enabled services companies. The Firm has no geographic preferences and will consider both private and public company investments. Leading Edge's investment size is $25 to $300 million. Lead Edge Capital was established in 2009 and is headquartered in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 10 |
| Sector: Software M&A | 1 of 1 |
| Type: Secondary Buyout M&A Deals | 1 of 1 |
| State: California M&A | 1 of 1 |
| Country: United States M&A | 5 of 5 |
| Year: 2025 M&A | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-08-20 |
Highway
Dallas, Texas, United States Highway is a technology provider specializing in carrier Identity solutions for freight brokers, empowering them to reduce fraud and streamline the digital booking process. Highway was founded in 2022 and is based in Dallas, Texas. |
Buy | - |
