Thoma Bravo acquires Flexera for second time paying $ 2.85 billion – TechCrunch

Thomas bravo must really like Flexera, a Chicago-based IT asset management company. The private equity firm bought the company for the second time today. Sources told TechCrunch the price was $ 2.85 billion.

Technically, Thoma Bravo gets a controlling stake in the company, buying it from former owners TA Associates and the Ontario Teachers’ Pension Plan Board. The company originally purchased Flexera in 2008 from Macrovision for just $ 200 million. He turned the tables three years later in 2011 for a billion dollar profit, according to reports.

While reports from last year indicated that investors in the company looking for $ 3 billion, they haven’t quite hit that mark, but it’s still a big payoff as the business continues to change hands, providing each of its owners with a substantial return on their investment.

At $ 2.85 billion, Thoma Bravo will have a bigger challenge to make the same kind of comeback, but he sees a company he loved before and still loves it, especially the team at direction, which at least to some extent remains intact.

“Jim [Ryan] and his team have positioned Flexera for sustained growth by focusing on the strategic challenges businesses face with complex IT infrastructures, ”said Seth Boro, managing partner at Thoma Bravo in a statement.

Ryan was delighted to see the value of the business continue to grow and to connect again with Thoma Bravo. “This is a resounding vote of confidence in the growth that Flexera has shown and the strategic initiatives we have undertaken to address the exponential challenges facing organizations today,” he said in a statement.

Flexera was founded in 2008 and has bought 12 companies along the way, including five in the past two years, according to data from Crunchbase. The deal is expected to be finalized in the first quarter of next year subject to regulatory approvals.

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