Thoma Bravo acquires Quorum Software.
BANKING AND CREDIT NEWS-October 2, 2018-Thoma Bravo acquires Quorum Software
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Private equity investment firm Thoma Bravo, LLC has announced that it has finalized the acquisition of digital transformation software provider to the oil and gas industry Quorum Software, the company said.
Financial details were not disclosed.
Credit Suisse served as financial advisor to Quorum, and Hogan Lovells served as its legal advisor. Macquarie Capital was Thoma Bravo's financial advisor, and Kirkland & Ellis LLP was its legal advisor. Financing was provided by Credit Suisse and Macquarie Capital.
Thoma Bravo LLC is focused on the software and technology-enabled services sectors. With a series of funds representing more than USD 26 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business.
Quorum's purpose-built software provides integrated solutions for its customers' core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain. Quorum's portfolio of innovative software solutions addresses a broad spectrum of energy companies' needs, from operations to accounting, plant management and financial forecasting. Quorum is the preferred software provider to over 75% of the largest oil and gas producers in the United States.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Oct 2, 2018|
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