Thoma Bravo Completes Sale of Frontline Education to Roper Technologies

Rhea-AI Summary

Thoma Bravo has finalized the sale of Frontline Education to Roper Technologies (NYSE: ROP) for $3.725 billion. Frontline specializes in administration software for K-12 education, focusing on human capital management and enhancing productivity through analytics. CEO Mark Gruzin expressed gratitude towards Thoma Bravo for their support, highlighting their mission to empower K-12 schools. Thoma Bravo, managing over $122 billion in assets, has a strong history of driving growth within its portfolio companies.

Positive

• Roper Technologies expands its portfolio with the acquisition of Frontline Education for $3.725 billion.
• Frontline Education provides vital software solutions for K-12 education, potentially enhancing Roper's market position.

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• None.

SAN FRANCISCO, Oct. 4, 2022 /PRNewswire/ -- Thoma Bravo, a leading software investment firm, today announced the completion of its sale of Frontline Education ("Frontline"), a leading provider of administration software purpose-built for educators in K-12, to Roper Technologies, Inc. (NYSE: ROP) in an all-cash transaction that values Frontline at approximately $3.725 billion.

Frontline, which offers solutions for human capital management, student and special programs, and business operations with powerful analytics to increase productivity and improve overall performance for K-12 administrators, has been a trusted partner to K-12 leaders across all 50 states for decades.  

"We are grateful to Thoma Bravo for their invaluable partnership over the last five years which has allowed us to further expand the use of our critical solutions by educators across the country," said Mark Gruzin, Chief Executive Officer of Frontline Education. "As part of Roper, we are excited to bring enhanced innovation and value to our clients in alignment with our mission to empower K-12 schools with the technology capabilities they need to succeed."

"We are extremely proud of our partnership with Frontline and what we have been able to achieve together," said Holden Spaht, a Managing Partner at Thoma Bravo. "Applying our deep sector expertise, we worked with Mark and the Frontline team to make strategic acquisitions, increase revenue and expand product offerings and headcount in order to drive sustainable long-term growth. We look forward to following Frontline's continued success with Roper as their partner."

J.P. Morgan Securities LLC, Jefferies LLC and Macquarie Capital served as financial advisors and Kirkland & Ellis LLP served as legal advisor to Thoma Bravo and Frontline Education. Cooley LLP also served as legal advisor to Frontline Education.

About Thoma Bravo

Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com.

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SOURCE Thoma Bravo

FAQ

What was the value of the acquisition of Frontline Education by Roper Technologies?

The acquisition was valued at approximately $3.725 billion.

What type of software does Frontline Education provide?

Frontline Education offers administration software specifically designed for K-12 education.

When was the acquisition of Frontline Education completed?

The acquisition was completed on October 4, 2022.

Which investment firm sold Frontline Education to Roper Technologies?

Thoma Bravo completed the sale of Frontline Education to Roper Technologies.

What sector does Roper Technologies operate in after acquiring Frontline Education?

Roper Technologies operates within the education technology sector after acquiring Frontline Education.