Thoma Bravo, a leading software investment firm, today announced it has signed a definitive agreement to sell Frontline Education, a leading provider of administration software purpose-built for educators in K-12, to Roper Technologies, in an all-cash transaction that values Frontline at approximately $3.7bn.
The exit follows a five-year partnership between Thoma Bravo and Frontline during which Thoma Bravo leveraged its specialized operating model and deep sector expertise to enable Frontline to drive profitable growth and expand its market leadership in the K-12 education sector. Since Thoma Bravo’s acquisition of Frontline in 2017, the company has completed six highly strategic acquisitions, significantly grew its revenue, expanded its market leading product portfolio from 16 to 30 products and increased headcount by over 70% – all while bringing increased value to school districts across the U.S.
J.P. Morgan Securities LLC, Jefferies LLC and Macquarie Capital are serving as financial advisors and Kirkland & Ellis LLP is serving as legal advisor to Thoma Bravo and Frontline Education. Cooley LLP is also serving as legal advisor to Frontline Education.
Read more: Press Release
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