Thoma Bravo prepares to put Riskonnect on the block, Linden sees 8x return on HydraFacial investment

Thoma Bravo has been everywhere recently, it seems. Now we have word, via M&A scoopster Milana Vinn, that the firm is getting ready to shop Riskonnect after a three-year hold.

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Hittin’ the market: Thoma Bravo has been everywhere recently, it seems. Now we have word, via M&A scoopster Milana Vinn, that the firm is getting ready to shop Riskonnect after a three-year hold. (I have to admit, I’m not a huge fan of the company’s name).

Riskonnect is cloud-based software (natch) for compliance management, business continuity management, enterprise risk management and audit management.

Thoma Bravo invested in the company in 2017 out of its first Discover fund, which is the firm’s first-ever small-cap pool. It will be interesting to see how this exit does for the small-cap fund.

Compliance has been hot this year. Read Milana’s story here for the details.

SPAC: As HydraFacial agrees to merge with Vester Healthcare Acquisition Corp, Linden Capital Partners has so far generated an 8x return on original invested capital based on the SPAC’s current share price, writes Sarah Pringle on PE Hub.

The pending transaction, announced Wednesday, implies an initial enterprise value of $1.1 billion for HydraFacial, whose 30-minute signature facial is likened to a medical treatment and viewed as an alternative to microdermabrasion. Read Sarah’s story here.

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