Global private markets investment manager Partners Group has acquired a majority share of Idera Inc., which develops global B2B software productivity brands. Current shareholders HGGC and TA Associates will continue as significant equity investors moving forward, along with Idera’s management team. Partners Group made an initial investment in Idera, on behalf of its clients, in 2019.
This recapitalization is the fourth equity transaction for Idera since 2014. Since 2014, Idera has grown revenue, bookings, and earnings by more than 10X. Organic growth from market-leading assets and acquisitions of nearly 20 companies drive the growth and foretell continued investor success, says Idera.
“When we first met the Idera team, we discovered a company with a unique business model focused on efficiency, reliability and speed, and one that we believed to be an attractive investment opportunity,” stated Hythem El-Nazer, a managing director at TA Associates.
Kirkland & Ellis and Horzepa, Spiegel & Associates acted as legal counsel for Idera. Ropes & Gray acted as legal counsel for Partners Group. Deloitte acted as accounting and tax advisor to Idera. Jefferies is acting as lead financing partner and M&A advisor for the transaction.