SAN FRANCISCO —Thoma Bravo, LLC, a leading private equity investment firm, announced today that it has completed the sale of portfolio company Deltek, the leading global provider of enterprise software and solutions for project-based businesses, to Roper Technologies for $2.8 billion .
Thoma Bravo acquired Deltek in 2012 in a $1.1 billion take-private acquisition and the resulting partnership allowed Deltek to invest in a growth strategy that resulted in a near tripling of the value of the company. Working with existing management, Thoma Bravo positioned Deltek to substantially invest in its solutions and expand the markets in which it competes. Additionally, during the partnership, Deltek completed six add-on acquisitions, grew recurring revenue by 60 percent, significantly expanded EBITDA margins and dramatically increased annual organic revenue growth.
“We’re very proud of what we’ve accomplished during our partnership with Deltek. Over the past four years, the company has experienced tremendous growth and has further solidified its position as the market leader in software and solutions for project-based businesses” said Holden Spaht , a managing partner at Thoma Bravo. “Roper is the perfect new partner to help Deltek continue its momentum, and we look forward to hearing about its ongoing innovation and success.”
“With the help and support of Thoma Bravo, Deltek has been able to invest in our solutions portfolio and expand the scope of markets in which we compete,” said Mike Corkery , CEO and President at Deltek. “This partnership has positioned us for future success, and we look forward to continuing to grow our business as a part of Roper Technologies.”