Thoma Bravo, Providence Line Up For More Dividends

Some PE firms should be giving thanks to the bubbling high yield market.

It’s the day before Thanksgiving and dividend recaps are still coming.

First up is Flexera Software, a portfolio company of Thoma Bravo. Flexera, which was formerly known as Acresso Software, is launching a $215 million loan to pay a dividend to its shareholders, according to Thomson Reuters Loan Pricing Corp. Barclays and RBC Capital Markets are leading the sale of the loan, LPC said .

In 2008, Thoma Bravo acquired the software business unit of Macrovision Corp., which became Acresso Software. Acresso changed its name to Flexera last year.

Thoma Bravo has already been in the news this week. On Monday, Attachmate Corp., which is owned by Thoma Bravo, Golden Gate and Francisco Partners, agreed to buy Novell for roughly $2 billion.

Decision Resources is also in the market for a $245 million loan that it will use to pay a dividend, LPC said. Providence Equity Partners bought a majority stake in Decision Resources, a research and advisory firm for pharmaceutical and healthcare issues, in 2007. Another Providence portfolio company, Ascend Learning, was recently in the market for a roughly $400 million loan to pay its shareholders.

The dividends are the latest for the PE sector. Other companies–most notably HCA and Dunkin’ Brands– have launched loans to back payouts to their PE shareholders.

Thoma Bravo declined comment.