Thoma Bravo Sells Manatron to Thomson Reuters

The private equity firm Thoma Bravo has sold Portage, Mich.-based Manatron, which makes tax automation and land registry software, to the information conglomerate (and peHUB parent) Thomson Reuters. Financial terms were not disclosed. Thoma Bravo, which has offices in Chicago and San Francisco, acquired Manatron through a take-private transaction in 2008 and has led six acquisitions for the company since.


Private equity firm Thoma Bravo, LLC today announced the sale of portfolio company Manatron, a leading provider of property tax automation and land registry software for governments, to Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals. Financial details were not disclosed.

Thoma Bravo acquired Manatron through a take-private transaction in 2008.  During the three years of its ownership Thoma Bravo helped Manatron grow organically and led six acquisitions for the Company, which included International Land Systems, Beyond Appraisal, Software Techniques, and Infinitec.

“Thoma Bravo has worked closely with Manatron’s exceptional leadership team over the last three years to substantially increase the value of the company,” said Scott Crabill, a Managing Partner at Thoma Bravo. “We utilized Thoma Bravo’s buy and build strategy to grow Manatron both organically and through strategic acquisitions.”

“Thoma Bravo partnered with Manatron’s management team to consolidate the company’s industry leadership position while maintaining the highest levels of customer service,” said Holden Spaht, a Partner at Thoma Bravo. “We believe Manatron’s ability to deliver integrated property tax systems to governments on a global basis will only accelerate under Thomson Reuters stewardship.”

“We appreciate the expertise Thoma Bravo bought to Manatron—specifically through acquisition lead generation and operational best practices that helped significantly improve Manatron’s bottom line,” said Bill McKinzie, president and chief executive officer at Manatron. “Our partnership with Thoma Bravo enabled Manatron to enhance our product offerings and strengthen our customer service.”

Thoma Bravo’s sale of Manatron to Thomson Reuters is expected to close pending regulatory approval.

About Thoma Bravo, LLC

Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for 30 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo applies its investment strategy across multiple industries, with a particular focus on the software and service sectors, and works in partnership with management to implement its operating and consolidation expertise to build long-term value.  In software, Thoma Bravo has completed more than 40 add-on acquisitions across 18 platform companies with total annual earnings of approximately $1 billion.  For more information on Thoma Bravo, visit

About Manatron

Manatron, a privately-held company and an investment of private equity firm Thoma Bravo, LLC, provides software and services for governments worldwide to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. Manatron’s software manages the entire property life cycle, which includes land registry, cadastral mapping, deed recording, land records, GIS (Geographic Information System) integration, valuation, assessment administration, personal property, business licenses, cashiering, tax billing and collection, delinquents and tax sales and e-government. The company’s corporate headquarters is located in Portage, Michigan and it has offices throughout the United States. The Manatron International headquarters is located in Silver Spring, MD with additional offices in Kiev, Ukraine and Cochabamba, Bolivia. Manatron currently serves over 1,400 customers and manages approximately 45 million parcels. More information about Manatron, Inc. is available on the Company’s website