SAN FRANCISCO, Jan. 23, 2017 /PRNewswire/ -- Thoma Bravo LLC, a leading private equity investment firm, today announced that it has completed the sale of LANDESK, a global leader in IT operations and security software solutions, to Clearlake Capital Group, L.P.
"LANDESK is a great example of the kind of productive and positive partnerships we develop with our portfolio companies and their management teams," said Seth Boro, a managing partner at Thoma Bravo. "For the past six years, we've been able to improve the company's performance across multiple metrics. The sale to Clearlake is a testament to the success we've had in partnering with LANDESK, and the type of value that Thoma Bravo brings to its portfolio companies."
Thoma Bravo acquired LANDESK in 2010. Under Thoma Bravo's ownership, LANDESK was able to complete seven strategic add-on acquisitions which resulted in a more robust product portfolio. The add-on acquisitions helped accelerate revenue growth and ultimately helped LANDESK expand its reach and solidify its leadership position in IT systems management.
"We've enjoyed a great working relationship with Thoma Bravo and are proud of what we've been able to accomplish over the duration of our partnership with them," said Steve Daly, CEO at LANDESK. "Thoma Bravo has helped LANDESK achieve tremendous growth over the past six years, and we look forward to continuing to grow our business with Clearlake."
Kirkland & Ellis LLP served as legal advisor to Thoma Bravo. UBS Investment Bank served as financial advisor to Thoma Bravo.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 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. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Riverbed, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.
LANDESK is the global authority on modern, user-centered IT. By integrating and automating IT tasks, LANDESK helps organizations balance rapidly-evolving user requirements with the need to secure critical assets and data. LANDESK is headquartered in Salt Lake City, UT, and has offices all over the world. To learn more, visit www.landesk.com.
SOURCE Thoma Bravo, LLC