Clearlake sells Brightly Software for $1.875bn

• Clearlake acquired Brightly in June 2019
• William Blair & Company LLC and SVB Securities LLC acted as lead financial advisors to Brightly while Sidley Austin LLP provided legal counsel to Brightly and Clearlake
• Clearlake currently has over $72 billion of assets under management

Clearlake Capital Group has sold Cary, North Carolina-based Brightly Software Inc, a provider of cloud-based enterprise asset management and facility operations management, for $1.875 billion. The buyer was Siemens AG.

Clearlake acquired Brightly in June 2019.

Kevin Kemmerer, CEO at Brightly Software, said in a statement, “The Brightly team and I have maintained a compelling partnership with Clearlake, and, collectively, we have built the Company into a SaaS platform addressing a variety of use cases for enterprise asset management. Throughout Clearlake’s three years of ownership, our team has been able to leverage the firm’s software expertise and their portfolio’s best practices to establish ourselves as a high performing software solutions provider.”

William Blair & Company LLC and SVB Securities LLC acted as lead financial advisors to Brightly. Sidley Austin LLP provided legal counsel to Brightly and Clearlake.

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies.

Clearlake’s core target sectors are technology, industrials and consumer. Clearlake currently has over $72 billion of assets under management. The firm is headquartered in Santa Monica, California with affiliates in Dallas, TX, London, UK and Dublin, Ireland.