August 13, 2018 - 9:00 AM EDT
Print Email Article Font Down Font Up
Thoma Bravo to Acquire Quorum Software

SAN FRANCISCO & HOUSTON

Partnership to Accelerate Quorum’s Strategic Growth Initiatives

Thoma Bravo, LLC, a leading private equity investment firm, today announced that it has agreed to acquire Quorum Software (“Quorum” or “the Company”), the leader in digital transformation for the oil and gas industry, from Silver Lake. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

Since its inception in 1998, Quorum has delivered purpose-built software, fueling the digital transformation of the oil and gas industry and operates in markets across the United States and Canada. Quorum serves its customer base by providing integrated solutions for their core processing needs across the upstream, midstream, and downstream segments of the oil and gas value chain.

“We are excited to partner with Thoma Bravo to advance our strategic goal of ‘shaping the modern energy workplace’ through delivering innovative mobile and cloud-based software platforms and services,” stated Perry Turbes, Chief Executive Officer, Quorum Software.

Turbes continued: “The North American oil & gas industry continues to grow, with a heightened focus on operational efficiencies and maximized capital productivity. Quorum’s comprehensive capabilities across the value chain with advanced technical innovation and deep domain expertise, coupled with our strong brand, positions us well for continued growth. We look forward to benefitting from Thoma Bravo’s expertise in helping companies grow through prudent investment strategies. We are also thrilled to partner with their software industry experts to harness exciting new growth opportunities.”

“Quorum is a pioneer and leader in the energy software market, offering a broad portfolio of mission critical technology solutions to its world-class customer base,” said Scott Crabill, a Managing Partner at Thoma Bravo. “We look forward to working with Perry and the Quorum management team to move the Company into its next phase of growth.”

Credit Suisse is serving as financial advisor to Quorum, and Hogan Lovells is serving as its legal advisor. Macquarie Capital is serving as financial advisor to Thoma Bravo, and Kirkland & Ellis LLP is serving as its legal advisor. Financing for the transaction is being provided by Credit Suisse and Macquarie Capital.

About Thoma Bravo, LLC

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 $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. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.

About Quorum Software

Quorum offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. From the field to the back office, defying complexity is coded in our DNA and our software. This unmatched experience is why Quorum is the choice of eight of the largest public energy companies worldwide, 75 percent of LNG exporters throughout North America and 80 percent of all natural gas processed in the United States. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought. At Quorum, we’re helping visionary leaders transform their business, and the energy industry, for a digital world. For more information, visit www.quorumsoftware.com.

Thoma Bravo:
Hiltzik Strategies
Matt Gorton, 212-776-1161
[email protected]
or
Quorum Software:
Edelman
Arielle Patrick, 212-738-6120
[email protected]
or
Allison Metcalf, 646-270-6797
[email protected]


Source: Business Wire (August 13, 2018 - 9:00 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice