The deal was first disclosed yesterday by the Federal Trade Commission, in a list of transactions granted early termination of the HSR waiting period. There were no financing details, including whether or not Golden Gate is planning to take a majority stake (the San Francisco-based firm makes both buyout and growth equity investments).
Either way, I’d think that this deal would have some serious dollars behind it. Clover is no small player, with over $400 million in annual revenue and more than 3,500 global employees. I’ve reached out to the company, and will update this post if they call back. Golden Gate declined comment.