Thoma Bravo Sold Roper Deal Affects Multiple Companies

Thoma Bravo sold Roper Technologies to a new parent company, AmerisourceBergen. This deal has significant implications for multiple companies involved.

AmerisourceBergen, a global healthcare and pharmaceutical distributor, acquired Roper Technologies, a diversified technology company, in a massive deal worth over $10 billion. This acquisition makes AmerisourceBergen one of the largest healthcare companies in the world.

Roper Technologies, a company with a diverse portfolio of businesses, was previously owned by Thoma Bravo, a private equity firm. Thoma Bravo acquired Roper in 2019 for $3.3 billion.

Thoma Bravo, a leading software and technology PE fund, is selling Frontline Education to Roper Technologies. Thoma Bravo has a 40+ year history of providing capital and strategic support to experienced management teams.

The firm has acquired or invested in more than 380 companies representing over $190bn in EV. Frontline Education is a leading US provider of admin software, providing a connected cloud-based platform of administrative solutions for K-12 education.

Thoma Bravo first acquired Frontline Education in 2017 from Insight Ventures and has since supported six bolt-on acquisitions. Roper Technologies, a diversified technology company, will be acquiring Frontline Education for $3.725 billion in an all-cash deal.

Thoma Bravo is led by CEO Orlando Bravo, and has assets under management (AUM) of $114bn. Roper Technologies is led by CEO Neil Hunn, and operates market-leading businesses that design and develop vertical software and technology-enabled products for a variety of defensible niche markets.

Here are the companies involved in the deal:

Roper Technologies is a diversified technology company that provides engineered products and solutions for global niche markets. They operate market-leading businesses that design and develop vertical software and technology-enabled products for various defensible niche markets.

Roper Technologies has a strong financial foundation, with $2.88 billion in cash and equivalents as of June 30. They plan to fund the acquisition of Frontline Education using their cash on hand and revolving credit facility.

Roper Technologies is looking to expand its portfolio with the acquisition of Frontline Education, which is expected to contribute $370 million of revenue and $175 million of EBITDA in 2023. The acquisition is expected to close in the fourth quarter.

Here are some key statistics about Roper Technologies' acquisition of Frontline Education:

Roper Technologies expects Frontline Education's annual unlevered free cash flow to be 100% of EBITDA. The acquisition is a strategic move to expand Roper Technologies' portfolio and provide more value to its customers.

HCSS is a company that has been acquired by Thoma Bravo. HCSS has a long history of providing software solutions for organizations, having done so for 30 years.

The company has enabled over 20,000 organizations to digitalize their workplaces and transform their operations. This is a significant achievement, especially considering the complexity of such a task.

HCSS is also known for being a great company to work for, having been named one of Fortune's 2019 Best Companies to Work For.

Thoma Bravo has agreed to sell Frontline Education to Roper Technologies in an all-cash deal worth $3.725 billion.

The transaction is expected to close in the fourth quarter, with Roper using its cash on hand and revolving credit facility to fund the purchase. Roper held $2.88 billion in cash and equivalents as of June 30.

The net purchase price, including a tax benefit, is $3.375 billion, representing 19X Frontline's estimated 2023 EBITDA.

Here are some key financial details about the deal:

Thoma Bravo first acquired Frontline Education in 2017 from Insight Ventures and has since supported six bolt-on acquisitions, expanding the business's product portfolio from 16 to 30 solutions.