Blackstone and Vista Equity Partners Complete Acquisition of Ellucian
RESTON, Va., Sept. 15, 2021 /PRNewswire/ -- Ellucian, a leading higher education technology solutions provider, today announced the completion of its acquisition by funds managed by Blackstone (NYSE: BX) ("Blackstone") and Vista Equity Partners ("Vista"). Blackstone and Vista are investing in Ellucian through their respective long-term private equity strategies, which hold investments for longer periods than traditional private equity.
"Today marks an exciting new chapter for Ellucian, our customers and the future of higher education as we welcome new ownership by Blackstone and Vista Equity Partners," said Laura Ipsen, President and CEO, Ellucian. "Ellucian has achieved several milestones in enabling more than 1,100 customers to modernize in the cloud with the strong support of TPG Capital and Leonard Green & Partners, L.P. Blackstone and Vista share our vision for Ellucian's long-term growth with a focus on accelerating digital transformation, our open SaaS platform and international expansion."
Ipsen continued, "On behalf of Ellucian, our employees and customers, we thank our prior owners and valued board members for their commitment to higher education, strategic partnership and focus on growth over the last six years which led to this fantastic outcome."
Eli Nagler, a Senior Managing Director at Blackstone, said: "We are excited to invest in Ellucian's long-term growth as it continues to deliver comprehensive modern technology solutions to its higher education partners. We look forward to working with Laura and her team in the years ahead as they further expand and drive innovation to solve higher education needs."
Jim Hickey, Co-Head of Vista's Perennial Fund and Senior Managing Director, said, "We are excited about the opportunity to partner with Ellucian t build upon its industry leadership and accelerate modernization of its higher education customers' crucial operating platforms." Burke Norton, Co-Head of Vista's Perennial Fund and Senior Managing Director, added, "We look forward to partnering with Ellucian to advance their vision of leading digital transformation of higher education, and innovating to deliver improving outcomes for students and institutions globally."
RBC Capital Markets, LLC served as financial advisor and Simpson Thacher & Bartlett LLP served as legal counsel to Blackstone. Morgan Stanley & Co. LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Vista. UBS Investment Bank, Goldman Sachs and BofA Securities served as financial advisors to TPG Capital, Leonard Green & Partners, L.P. and Ellucian. Ropes & Gray served as legal counsel to Ellucian and Morgan Lewis & Bockius served as legal counsel to the management team.
About Vista Equity Partners
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