William Blair acted as the exclusive financial advisor to PowerPlan, Inc., a portfolio company of Thoma Bravo, LLC, in connection with its pending sale to Roper Technologies (NYSE: ROP). The transaction was announced on May 21, 2018, and is expected to close during the second quarter of 2018, subject to regulatory approval.
Transaction Highlights
- Highly competitive process for a premier asset: PowerPlan's market leadership, strong financial profile, and compelling growth opportunities commanded strong interest from both private equity investors and strategic acquirers. William Blair drew on long-standing relationships with the most likely buyers and unique understanding of their strategic priorities to produce a strong competitive dynamic. Skilled negotiation and process management resulted in a premium outcome.
- Long-standing relationship and trusted guidance: Having served as PowerPlan's exclusive financial advisor during the 2015 sale to Thoma Bravo, William Blair leveraged strong familiarity with the business to generate unique positioning insights. The transaction team delivered an exceptional outcome for the second time, deepening William Blair's relationship with Thoma Bravo and reaffirming a powerful sense of partnership and trust.
- Deep sector expertise: PowerPlan was attracted to William Blair's extensive knowledge and experience advising leading SaaS and vertical software companies, strong transaction record, and relationships with the most likely strategic and financial acquirers.
About the Companies
Since 1994, PowerPlan has been a software leader, helping asset-intensive businesses optimize their financial performance and achieve regulatory compliance. PowerPlan's award-winning integrated platform gives key stakeholders in accounting, tax, finance, operations, IT, and regulatory the clarity they need to make decisions that improve corporate performance. PowerPlan's solutions address specific challenges by industry for utility, oil and gas, telecom, transportation, and public sector organizations.
Thoma Bravo is a leading private equity investment firm building on a 30-year-plus history of providing equity and strategic support to experienced management teams and growing companies. Thoma Bravo invests with a particular focus on application and infrastructure software and technology-enabled services. The firm currently manages a series of private equity funds representing over $20.0 billion of equity commitments.
Roper Technologies (NYSE: ROP) is a diversified technology company with annual revenues of $4.6 billion. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end-markets. Roper's strong operating capabilities enable the conversion of end-market potential into profitable growth and cash flow in order to create value for investors.
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