SAN FRANCISCO and HOUSTON, Sept. 24, 2018 /PRNewswire/ — Thoma Bravo, LLC, a leading private equity investment firm, today announced that it has completed the acquisition of Quorum Software, the leader in digital transformation for the oil and gas industry. Financial details were not disclosed.
Quorum’s purpose-built software provides integrated solutions for its customers’ core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain. Quorum’s portfolio of innovative software solutions addresses a broad spectrum of energy companies’ needs, from operations to accounting, plant management and financial forecasting. Quorum is the preferred software provider to over 75% of the largest oil and gas producers in the United States.
“Thoma Bravo has the resources, insight and ability to strengthen Quorum’s position as the leading provider of software solutions to the ever-evolving, dynamic energy sector,” said Perry Turbes, Chief Executive Officer of Quorum. “This partnership will enhance the already impressive track record of services and support we provide our customers in the oil and gas industry.”
“Quorum’s history of innovation and its solutions-oriented, customer-focused approach has made it the vanguard of the energy sector’s digital transformation,” said Scott Crabill, a managing partner at Thoma Bravo. “We’re looking forward to a strong and productive partnership with Perry and the entire Quorum team to strengthen the Company’s market position and support its pro-customer approach of transforming the modern oil and gas industry.”
Credit Suisse served as financial advisor to Quorum, and Hogan Lovells served as its legal advisor. Macquarie Capital was Thoma Bravo’s financial advisor, and Kirkland & Ellis LLP was its legal advisor. Financing was provided by Credit Suisse and Macquarie Capital.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $26 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Frontline Education, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.
About Quorum Software
Quorum offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. From the field to the back office, defying complexity is coded in our DNA and our software. This unmatched experience is why Quorum is the choice of eight of the largest public energy companies worldwide, 75 percent of LNG exporters throughout North America and 80 percent of all natural gas processed in the United States. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought. At Quorum, we’re helping visionary leaders transform their business, and the energy industry, for a digital world. For more information, visit quorumsoftware.com.