Thoma Bravo has bought Atlanta-based PowerPlan, a provider of of accounting, tax and capital budgeting optimization solutions for capital asset-intensive businesses. The sellers were JMI Equity and TPG Growth. No financial terms were disclosed. William Blair provided financial advice to PowerPlan on the transaction.
SAN FRANCISCO–(BUSINESS WIRE)–Thoma Bravo, LLC, a leading private equity investment firm, has acquired PowerPlan, Inc., the premier provider of accounting, tax and capital budgeting optimization solutions for capital asset-intensive businesses, from current investors JMI Equity and TPG Growth. Financial details of the deal were not disclosed.
“PowerPlan has addressed the information gaps that develop between finance and field operations in asset-centric businesses, and established a market-leading software company that is critical to all of its customers’ operations,” said Scott Crabill, a managing partner at Thoma Bravo.
“It’s exciting to be able to put our software experience and buy and build philosophy to work for PowerPlan,” added Holden Spaht, a managing partner at Thoma Bravo.
“We look forward to having Thoma Bravo’s support in identifying and pursuing opportunities for growth, especially given the firm’s proven track record within the enterprise management space,” said Kent Kelley, CFO of PowerPlan. “Thoma Bravo’s experience with organic initiatives and strategic acquisitions, combined with our deep domain expertise, will enable us to strengthen our product offerings and help our clients become even more efficient.”
PowerPlan was founded in 1994 and provides asset-intensive companies – specifically within the utility, oil and gas, transportation, and telecom industries – with an integrated accounting, tax, and budgeting solution. PowerPlan’s enterprise software platform enables businesses to generate more cash, mitigate compliance risk and support a culture of cost management. The company’s asset-centric accounting capabilities enable systems to run more efficiently by automating the complete asset lifecycle from planning through retirement.
This results in improved cash flow and tax minimization and helps executives manage costs at a detailed level, all while tightly controlling compliance across multiple jurisdictions.
Wilson Sonsini Goodrich & Rosati, LLP, served as legal advisor to Thoma Bravo. William Blair acted as financial advisor and Ropes & Gray as legal advisor to PowerPlan.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm seeks to create value by collaborating with company management to improve business operations and provide capital to support growth initiatives. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm currently manages a series of private equity funds representing more than $7.5 billion of equity commitments. For more information, visit www.thomabravo.com.
PowerPlan, Inc. is an enterprise software company devoted to helping asset-centric businesses in the utilities, oil and gas, transportation, telecommunications, and mining industries optimize their financial performance. PowerPlan combines purpose-built software for asset centric accounting and tax and budgeting/analytics with domain expertise to help executives generate cash, mitigate compliance risk and enable a culture of cost management. The world’s most demanding asset-intensive companies trust PowerPlan to manage more than $2.3 trillion in assets today. PowerPlan is a privately held company based in Atlanta, GA. For more information, visit www.powerplan.com.