PE Deals

Thoma Bravo completes sale of software firm Kofax to Clearlake and TA

J.P. Morgan, Jefferies LLC, Arma Partners, and Credit Suisse served as financial advisors to TA and Clearlake.

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  • Clearlake’s core target sectors are technology, industrials, and consumer
  • TA has raised $47.5 billion in capital since its founding in 1968
  • Kofax is headquartered in Irvine, California

Clearlake Capital and TA Associates have closed its acquisition of Kofax from Thoma Bravo. No financial terms were disclosed.

Headquartered in Irvine, California, Kofax is a provider of intelligent automation software for digital workflow transformation.

“Market demand for digital transformation continues to accelerate as enterprises desire to create additional competitive advantage and bolder differentiation from their competitors,” says Reynolds C. Bish, CEO at Kofax, in a statement. “We’re grateful for Thoma Bravo’s partnership over the last five years and are excited for the next phase of our journey with Clearlake and TA. With their experience in driving growth through innovation and expansion, Kofax will continue to advance our software and solutions, expand our cloud services, and execute on our acquisition strategy.”

J.P. Morgan, Jefferies LLC, Arma Partners, and Credit Suisse served as financial advisors to TA and Clearlake. J.P. Morgan also led a new syndicated financing in support of the acquisition, with Credit Suisse, UBS, Jefferies LLC, Blackstone, PSP Partners, Security Benefit, and Brinley acting as joint arrangers on the financing. Kirkland & Ellis and Sidley Austin provided legal counsel to TA and Clearlake.

Clearlake Capital was founded in 2006. The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management. The firm is headquartered in Santa Monica, California.

TA has raised $47.5 billion in capital since its founding in 1968.