Thoma Bravo to buy Australian software player Nintex

The size of the transaction was not disclosed, but Thoma Bravo typically makes equity commitments of $100-750 million. The PE firm’s entry will facilitate a partial exit for TA Associates, which backed Nintex in 2013 – in conjunction with technology specialist Updata Partners – in a deal worth a reported A$200 million ($156 million). Three years earlier, Macquarie Capital acquired a 25% interest.

Established in Melbourne in 2006, Nintex provides intelligent process automation services to nearly 8,000 companies in 90 countries. The company works with IT departments, enabling them to automate and optimize hundreds of manual processes for SharePoint, Office 365, Box, Salesforce, DocuSign, and ServiceMax. It shifted to a cloud-based platform – Nintex Workflow Cloud – in 2013.

"Nintex will continue to drive its aggressive strategy to the benefit of its customers and partners and will extend its market leadership for the long term," said John Burton, the chairman and CEO of the company, in a statement. Once the transaction closes, CFO Eric Johnson will take over the CEO role, with Keith Fujinaga, currently a vice president of finance, becoming CFO.

Thoma Bravo manages a series of private equity and debt funds representing more than $17 billion of capital commitments. It invests in fragmented industries where there is the opportunity for consolidation, with a focus on application software, infrastructure software, and technology-enabled services sectors.

This is the second investment this year by a US-based GP in an Australian software company. It follows Battery Ventures’ acquisition of a significant stake in PageUp, which develops cloud-based enterprise talent management software. That deal provided an exit for Accel-KKR.

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• Topics
• Australasia
• Buyouts
• Trade sale
• Technology
• Australia
• TA Associates