TPG to purchase bulk stake in Thoma Bravo-backed tech company Nintex

TPG is getting a bulk stake in automation-software company Nintex, which is backed by Thoma Bravo, according to a declaration Tuesday.
The offer is valued at more than $2 billion, consisting of financial obligation, according to individuals acquainted with the matter who asked not to be recognized since the terms are personal. Nintex was valued at $460 million in 2018, according to PitchBook.

Image by Bloomberg Mercury

Thoma Bravo will make an equity financial investment in the business and keep a substantial minority interest.

Nintex assists consumers automate procedures without requiring to code, that makes it simple for services to adjust, Nintex Chief Executive Officer Eric Johnson stated in an interview.

He stated popular usages for its items are onboarding brand-new staff members and assisting handle remote working. It likewise assists business find out what procedures require to be automated.

Rolling Stakes

Private equity companies in the last few years have actually caused competitors to purchase their portfolio business. It’s likewise progressively typical for the sellers to roll over their stakes. A brand-new partner can supply some roi while likewise setting a brand-new assessment on a possession. Thoma Bravo initially purchased Nintex in 2018.

“It’s an increasing trend in software,” TPG Capital Co-Managing Partner Nehal Raj stated. “As long as the firms know each other well, you get the benefit of double the bandwidth.”

While it isn’t prepared to discuss exit chances, Raj stated a few of the world’s greatest innovation business might aim to handle Nintex’s area.

“ServiceNow, Microsoft, SAP, Salesforce, Oracle — they’re all thinking about how they want to play in the automation space,” Raj stated.

Hudson Smith, a Thoma Bravo partner, stated the business can utilize both companies’ networks to search for acquisitions. The business has actually done a handful of handle the previous couple of years and is seeking to grow even more that method.

Morgan Stanley recommended TPG while Bank of America Corp. was lead monetary advisor to Nintex, which likewise got recommendations from Macquarie Group Ltd.

— By Liana Baker and Katie Roof


A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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