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Thoma Bravo Announces Sale of LANDESK to Clearlake CapitalSAN FRANCISCO, Jan. 3, 2017 /PRNewswire/ -- Thoma Bravo, a leading private equity firm, has entered into a definitive agreement to sell LANDESK, a global leader in endpoint security and systems lifecycle and IT service management, to Clearlake Capital. Financial terms of the transaction were not disclosed. This exit culminates a six-year partnership between LANDESK and Thoma Bravo, during which Thoma Bravo's support helped LANDESK successfully expand its reach and solidify its leadership position in IT systems management. Thoma Bravo acquired LANDESK in 2010 through a successful carve-out from Emerson. Following the acquisition, LANDESK completed seven strategic add-on acquisitions – including Shavlik and AppSense – to create a more robust product portfolio and accelerate revenue growth. "LANDESK was an opportunity that aligned perfectly with Thoma Bravo's buy and build strategy, and our partnership with the company's management has proven to be very successful. Since our acquisition, the company has improved performance across multiple metrics, including revenue, earnings and operating margins," said Seth Boro, a managing partner at Thoma Bravo. "This growth is a product of the positive, productive relationship we've enjoyed with LANDESK's management team. We're proud of the value Thoma Bravo has been able to contribute to the company, and look forward to following their successes under Clearlake's ownership." "With Thoma Bravo, we saw a clear opportunity for LANDESK employees, customers and partners," said Steve Daly, CEO at LANDESK. "Thoma Bravo's expertise in and dedication to innovation, operational best practices and strategic investment opportunities proved invaluable to us. We are now better positioned than ever to fulfill our mission to be the market leader in helping customers build modern, user-centric IT organizations." Pending regulatory approval, the transaction is expected to close in early 2017. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo. UBS Investment Bank served as financial advisor to Thoma Bravo. About Thoma Bravo About LANDESK:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/thoma-bravo-announces-sale-of-landesk-to-clearlake-capital-300384681.html SOURCE Thoma Bravo, LLC |