Chicago private equity firm Thoma Bravo LLC has acquired PowerPlan Inc. from JMI Equity and TPG Growth for an undisclosed amount.
PowerPlan, headquartered in Atlanta, provides accounting, tax and capital budgeting software to the utility, oil and gas, transportation and telecommunications industries.
JMI, a Baltimore-based private equity firm, closed a $1 billion fund in August. The firm sold a stake in Internet Brands Inc. to Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) in June. TPG Growth is the middle-market and growth-equity arm of private equity firm TPG, headquartered in Fort Worth, Texas. The firm recently invested in Beautycounter, in December.
Based in Chicago and San Francisco, Thoma Bravo invests in technology and software businesses. The firm manages private equity funds with more than $7.5 billion in capital commitments. In September, the firm agreed to buy Compuware Corp. for $2.5 billion. Before that, in August, the firm invested in identity and access management technology company SailPoint. The firm also bought Sparta Systems Inc. in July, and TravelClick in May.
For more with Thoma Bravo, watch our video interview with co-founder Carl Thoma.
Wilson Sonsini Goodrich & Rosati LLP acted as Thoma Bravo’s legal counsel in the PowerPlan purchase. William Blair was financial adviser, and Ropes & Gray acted as legal adviser to PowerPlan. Golub Capital acted as joint lead arranger for a $195 million senior credit facility to support the deal.