William Blair acted as lead financial advisor to Brightly Software, Inc. (Brightly), a portfolio company of Clearlake Capital Group, L.P. (Clearlake), in connection with its sale to Siemens AG (Siemens) (FRA:SIE) for $1.575 billion of upfront cash consideration, along with $300 million in cash earn-out payments, for a total of $1.875 billion. The transaction was announced on June 27, 2022, and closed on August 3, 2022.
About the Companies
Brightly is a leader in intelligent asset management solutions and enables organizations to transform the performance of their assets. Brightly’s sophisticated cloud-based platform leverages more than 20 years of data to deliver predictive insights that help users through the key phases of the entire asset lifecycle. More than 12,000 clients of every size worldwide depend on Brightly’s complete suite of intuitive software – including CMMS, EAM, Strategic Asset Management, IoT Remote Monitoring, Sustainability, and Community Engagement. Paired with award-winning training, support, and consulting services, Brightly helps light the way to a bright future with smarter assets and sustainable communities.
Clearlake is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has more than $72 billion of assets under management and its senior investment principals have led or co-led more than 400 investments. The firm is based in Santa Monica, CA with affiliates in Dallas, TX, London, U.K., and Dublin, Ireland.
Siemens is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, as well as advanced healthcare, Siemens creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, Siemens had roughly 303,000 employees worldwide.