MDP and Thoma Bravo complete sale of software firm Syntellis to Roper Technologies for $1.4bn

• Syntellis became an independent company with the investment support of Thoma Bravo and MDP when it was separated from Kaufman Hall in August 2020
• William Blair served as financial advisor to MDP and Thoma Bravo while Kirkland & Ellis LLP served as legal advisor
• Based in Chicago, MDP has raised aggregate capital of over $28 billion and has completed over 150 platform investments

Madison Dearborn Partners and Thoma Bravo have closed their sale of Syntellis, a Chicago-based provider of enterprise performance management, software, data and intelligence solutions, to Roper Technologies Inc for $1.4 billion.

Syntellis will be combined with Roper’s Strata Decision Technology business.

Syntellis became an independent company with the investment support of Thoma Bravo and MDP when it was separated from Kaufman Hall in August 2020.

“It has been a pleasure working with MDP, Flint and the entire Syntellis team to create a truly best-in-class EPM leader,” said A.J. Rohde, a senior partner at Thoma Bravo in a statement. “Together, we drove growth and innovation by building on the company’s strong product offering and its commitment to providing customers with the operational, financial and strategic data they need to navigate their dynamic market environments and improve their business outcomes. We look forward to watching the company’s continued success as part of Roper.”

William Blair served as financial advisor and Kirkland & Ellis LLP served as legal advisor to MDP and Thoma Bravo.

Based in Chicago, MDP has raised aggregate capital of over $28 billion and has completed over 150 platform investments.

Thoma Bravo invests in the software and tech sectors. The firm has more than $127 billion in assets under management as of March 31, 2023.