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Transactions / E•••••••• I•••

Higher Education Technology Company E••••••• to be Acquired by B••••••••• and Vista Equity Partners

Exit to a strategic buyerannouncedannounced Jun 14, 2021Fact
What happened
Platform
not an add-on on record
Control
unknown
Share acquired
unknown
Industry
technology / cloud, digital, technology
Target location
unknown
Seller kind
Sponsor
Rollover
unknown
Values, only where disclosed
Enterprise value
Not disclosed
Purchase price
Not disclosed
Equity value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
Multiple
Not disclosed
Parties and roles
13 named
Buy side
  • B•••••••••Strategic acquirerconfirmed
    B••••••••• (NYSE: BX) (“B•••••••••”) and Vista Equity Partners (“Vista”) today announced that private equity funds managed by those firms have agreed to acquire E••••••• (the “Company”), a leading higher education technology solutions provider, from T•• C••••••, the private equity platform of global
  • T•• M•••••••Deal partnerconfirmed
    “Under L••••’s transformational leadership, we assembled a highly experienced team and expanded the Company’s suite of cloud-ready solutions to create a platform purpose-built for the modern, higher education institution,” said T•• M•••••••, Partner at T•• C••••••.
Sell side
  • B••••••••• (NYSE: BX) (“B•••••••••”) and Vista Equity Partners (“Vista”) today announced that private equity funds managed by those firms have agreed to acquire E••••••• (the “Company”), a leading higher education technology solutions provider, from T•• C••••••, the private equity platform of global
Advisory side
  • R•• C•••••• M••••••• L••Buy-side adviserconfirmed
    R•• C•••••• M••••••• L•• served as financial advisor and S•••••• T•••••• • B••••••• L•• served as legal counsel to B•••••••••.
  • M••••• S•••••• • C•• L••Financial adviserconfirmed
    M••••• S•••••• • C•• L•• served as financial advisor and K••••••• • E•••• L•• served as legal counsel to Vista.
  • R•••• • G••• L••Legal adviserconfirmed
    R•••• & G••• served as legal counsel to E••••••• and M••••• Lewis & Bockius served as legal counsel to the management team.
  • S•••••• T•••••• • B••••••• L••Legal adviserconfirmed
    R•• C•••••• M••••••• L•• served as financial advisor and S•••••• T•••••• • B••••••• L•• served as legal counsel to B•••••••••.
  • K••••••• • E•••• L••Legal adviserconfirmed
    M••••• S•••••• • C•• L•• served as financial advisor and K••••••• • E•••• L•• served as legal counsel to Vista.
  • U•• I••••••••• B•••Sell-side adviserconfirmed
    U•• I••••••••• B••• served as financial advisor to T•• C••••••, LGP, and E•••••••.
Side not stated
  • L•••• I••••Managementconfirmed
    “We are excited to welcome B••••••••• and Vista Equity Partners to the E••••••• team at such a pivotal time in higher education,” said L•••• I••••, President & Chief Executive Officer of E•••••••.
  • E•• N•••••Managementconfirmed
    E•• N•••••, a Senior Managing Director at B•••••••••, said: “Digital transformation is one of B•••••••••’s highest-conviction investment themes and E••••••• has proven itself a clear leader in the fast-growing higher-education technology sector.
  • M••••• B••••, Head of North American Private Equity at B••••••••• and Global Co-Head of Technology Investing, added: “We are excited to be partnered with Vista, and look forward to working with L•••• and E•••••••’s first-class management team to accelerate growth and drive the company’s global expan
  • B••••••••• (NYSE: BX) (“B•••••••••”) and Vista Equity Partners (“Vista”) today announced that private equity funds managed by those firms have agreed to acquire E••••••• (the “Company”), a leading higher education technology solutions provider, from T•• C••••••, the private equity platform of global
Evidence
B••••••••• (NYSE: BX) (“B•••••••••”) and Vista Equity Partners (“Vista”) today announced that private equity funds managed by those firms have agreed to acquire E••••••• (the “Company”), a leading higher education technology solutions provider, from T•• C••••••, the private equity platform of global alternative asset firm TPG, and Leonard Green & Partners, L.P. (“LGP”).
Higher Education Technology Company E••••••• to be Acquired by B••••••••• and Vista Equity | Private Equity Intelligence | DFX