Clearlake Capital sets acquisition sights on Confluence
17 June 2021 US
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Clearlake is set to acquire Confluence Technologies, a global software and data solutions provider, from TA Associates.
Upon closing of the transaction, Clearlake will become the majority shareholder while TA will retain a minority equity stake.
Mark Evans, CEO of Confluence, will continue to lead the company supported by the existing management team.
Confluence works with asset managers and service providers to automate business processes across the front, middle and back office.
Evans comments: “This investment is a testament to our remarkable growth, innovative solutions, and incredible team. The 2019 acquisition of StatPro exponentially broadened and deepened our platform to offer an extensive set of solutions across the investment lifecycle.”
Last year, Confluence completed the integration of StatPro Group, including its cloud-based portfolio analytics, asset data services, and data management solutions.
“With the support of our new equity investor Clearlake, we will further accelerate our ongoing global expansion as we continue to work with our clients to achieve their goals,” Evans explains.
Meanwhile, Behdad Eghbali, founder and managing partner, and James Pade, partner and managing director, at Clearlake, says: “We believe with the backing of Clearlake and our O.P.S. framework, the company can achieve further success through both organic growth and strategic acquisitions. We look forward to working with Mark Evans, the leadership team, and TA as we execute on the next phase of growth for the company.”
In a joint statement, Jonathan Meeks and Ken Schiciano, managing directors at TA, add: “It has been gratifying to partner with Confluence management over the past three years, leveraging TA’s experience and global resources to help accelerate the company’s growth. We are very excited to continue the journey with Confluence and our new partner Clearlake.”
The transaction is expected to close in Q3 2021 pending customary regulatory approvals and closing conditions.
Last month, Confluence expanded its partnership with J.P. Morgan to deliver a multi-asset portfolio analytics solution.
Upon closing of the transaction, Clearlake will become the majority shareholder while TA will retain a minority equity stake.
Mark Evans, CEO of Confluence, will continue to lead the company supported by the existing management team.
Confluence works with asset managers and service providers to automate business processes across the front, middle and back office.
Evans comments: “This investment is a testament to our remarkable growth, innovative solutions, and incredible team. The 2019 acquisition of StatPro exponentially broadened and deepened our platform to offer an extensive set of solutions across the investment lifecycle.”
Last year, Confluence completed the integration of StatPro Group, including its cloud-based portfolio analytics, asset data services, and data management solutions.
“With the support of our new equity investor Clearlake, we will further accelerate our ongoing global expansion as we continue to work with our clients to achieve their goals,” Evans explains.
Meanwhile, Behdad Eghbali, founder and managing partner, and James Pade, partner and managing director, at Clearlake, says: “We believe with the backing of Clearlake and our O.P.S. framework, the company can achieve further success through both organic growth and strategic acquisitions. We look forward to working with Mark Evans, the leadership team, and TA as we execute on the next phase of growth for the company.”
In a joint statement, Jonathan Meeks and Ken Schiciano, managing directors at TA, add: “It has been gratifying to partner with Confluence management over the past three years, leveraging TA’s experience and global resources to help accelerate the company’s growth. We are very excited to continue the journey with Confluence and our new partner Clearlake.”
The transaction is expected to close in Q3 2021 pending customary regulatory approvals and closing conditions.
Last month, Confluence expanded its partnership with J.P. Morgan to deliver a multi-asset portfolio analytics solution.
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