Clearlake to sell Brightly Software to Siemens for $1.875bn

• The deal is expected to close in the second half of 2022
• Clearlake acquired Brightly in June 2019
• William Blair & Company LLC and SVB Securities LLC acted as financial advisors to Brightly

Clearlake Capital has agreed to sell Brightly Software to Siemens for $1.875 billion.

The transaction is expected to close in the second half of 2022.

Brightly is a software-as-a-service provider of cloud-based enterprise asset management and facility operations management.

Clearlake acquired Brightly in June 2019.

On the deal, Kevin Kemmerer, CEO of Brightly Software, said in a statement: “This is a very exciting day for Brightly as it represents an important milestone in the Company’s history after going through a strategic transformation over the past few years under Clearlake’s guidance. Siemens’ acquisition of Brightly represents confidence in our ongoing plans to scale across end-markets and geographies, our ability to accelerate our market leadership position in enterprise asset management, and our goal to help our clients create more sustainable communities. We are proud and grateful to Clearlake of the work we have done together.”

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

Founded in 2006, Clearlake’s target sectors are technology, industrials and consumer. Clearlake currently has over $72 billion of assets under management and its senior investment principals have led or co-led over 400 investments, according to the firm. The firm is headquartered in Santa Monica, California with affiliates in Dallas, London and Dublin, Ireland.