Thoma Bravo and JMI Equity backs Condeco Software

Thoma Bravo and JMI Equity has made an investment in Condeco Software, a provider of workspace scheduling technology.

Thoma Bravo and JMI Equity has made an investment in Condeco Software, a provider of workspace scheduling technology. No financial terms were disclosed. Raymond James was financial advisor to Condeco on the deal.

PRESS RELEASE

Condeco Software (“Condeco”), the global leader in workspace scheduling technology, today announced a strategic growth investment from Thoma Bravo and JMI Equity. The investment is expected to accelerate Condeco’s growth globally and drive increased innovation within Condeco’s workplace scheduling technology platform. Paul Statham along with other members of Condeco’s management team will remain significant shareholders.
Founded by CEO Paul Statham in 2005, Condeco serves over 2,000 leading companies, providing transformational technology to improve employee experiences and manage workspaces, allowing companies to quickly adapt to the ever-changing office environment.

Headquartered in London with offices around the world, Condeco combines its world-leading technology with its team’s unrivaled experience, helping millions easily find and reserve workspaces and meeting rooms, and providing workspace management and analytics solutions. Thoma Bravo and JMI intend to leverage their deep expertise and prior experience in workplace management software to help Condeco expand its customer base and accelerate growth and innovation.

“We are so excited to be taking this next step in our growth journey and to be partnering with Thoma Bravo and JMI,” said Paul Statham, Founder and CEO of Condeco. “As new ways of working have driven demand for innovative and flexible workspaces, Condeco is well-positioned to continue our global expansion and technological innovation. Our goal is to provide smart solutions to power the office of the future by making flexible working more efficient and offices more productive and collaborative. Thoma Bravo and JMI have an unparalleled track record of facilitating the growth of the software companies they partner with, and we are confident that their industry and operational expertise will help accelerate our momentum and take our business to the next level as we create the smart workplace of tomorrow.”

“The nature of ‘in the office’ has been altered forever, and employers need to provide employees with flexible options regarding how and where they work,” said A.J. Rohde, Senior Partner at Thoma Bravo. “Condeco helped create the category and has been the market leader for a very long time. We are so excited we get to begin this journey with Paul and his team to help employers provide these hybrid scheduling options more rapidly.”
Brian Hersman, General Partner at JMI Equity, added, “We are looking forward to partnering with Paul and his team to support Condeco in driving sustained long-term growth and expanding their presence across industries as the global leader in workplace scheduling technology.”

Condeco will continue to operate as an independent business focused on penetrating the significant market opportunity in modern workplace scheduling.

Condeco was advised by Raymond James as financial advisor and Pinsent Masons LLP as legal counsel. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo. Goodwin Procter LLP served as legal counsel to JMI Equity.

About Condeco
Condeco are a global leader in workspace scheduling software. Our solutions help create better future outcomes for businesses and their people. We do this by giving employees control over the flexibility to work from anywhere – whether they choose to collaborate at the office or to focus on work remotely. We are trusted by over 2000 of the world’s largest businesses to enable their future at work.

About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in assets under management as of March 31, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired more than 300 companies representing over $85 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit thomabravo.com.

About JMI
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 155 businesses in its target markets, successfully completed over 105 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.