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IDERA Has Agreed to be Recapitalized by HGGC

Thursday, June 1, 2017

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William Blair acted as financial advisor to IDERA in connection with its pending $1.125 billion recapitalization led by HGGC. The transaction was announced on May 31, 2017.

Transaction Highlights

  • Industry expertise: IDERA was attracted to William Blair’s extensive knowledge and experience in the software segment. William Blair is one of the most active global advisors in the software sector, completing more than 30 sell-side M&A transactions in the past 36 months.
  • Trusted guidance: William Blair’s transaction team was integrally involved throughout each step of the transaction process, from identifying the most qualified financial sponsors, to drafting marketing materials and supporting an accelerated due diligence process. IDERA was highly attracted to William Blair’s independence and sole focus on maximizing shareholder value.
  • Process and execution excellence: William Blair's transaction team designed a highly targeted and accelerated marketing process focused on IDERA's most relevant financial acquirers. Through high-touch engagement with each financial sponsor, William Blair was able to focus buyers on IDERA's unique operating model, proven M&A expertise, and world-class management team, as well as the company's exceptional financial profile. This successful positioning created a competitive process that resulted in a premium valuation.
  • Deep relationships: Continuous dialogue with key decision-makers at the most relevant financial acquirers provided differentiated insight into diligence priorities and facilitated an efficient, accelerated process.

About the Companies

IDERA is a software company that provides a diverse portfolio of database life cycle management solutions and application development tools. The company was bought out by TA in 2014 and has made a series of successful acquisitions since that time, most prominently Embarcadero (2015) and Gurock (2016). Through its integrated suite of solutions, the company serves more than 20,000 customers worldwide, 97% of which are in the Global 2000. IDERA is based in Houston, Texas, and employees approximately300 professionals globally.

TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 480 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai, and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the business services, consumer, financial services, healthcare, and technology industries.

HGGC is a leading middle-market private equity firm, with over $4.3 billion in cumulative capital commitments. Based in Palo Alto, California, HGGC is distinguished by its "Advantaged Investing" model that enables the firm to source and acquire scalable businesses at attractive multiples through partnerships with management teams, founders, and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 60 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of more than $13 billion.

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