Thoma Bravo completes take-private acquisition of Deltek
Private equity firm Thoma Bravo has completed the acquisition of Deltek, a provider of enterprise software and information solutions for professional services firms and government contractors, for USD13 per share or USD1.1bn.
With the transaction completed, Deltek’s stock ceased trading on the Nasdaq under the ticker symbol PROJ at market close yesterday.
Deltek will remain headquartered in Herndon, Virginia, and will continue to be led by its existing senior management team.
“We look forward to partnering with existing management to accelerate growth through Thoma Bravo’s proven buy and build strategy,” says Holden Spaht (pictured), partner at Thoma Bravo. “We’re confident our approach and experience in identifying strategic opportunities, coupled with Deltek’s innovative solutions and proven leadership, establishes a platform for the company’s continued success.”
“Deltek has experienced significant growth over the past seven years, and I want to thank our board of directors and New Mountain Capital for their help building Deltek into a global market leader. We look forward to continuing our strong growth as a private company with the support of Thoma Bravo,” says Kevin Parker, Deltek president and chief executive. “Our customers will continue to receive the same commitment and unmatched solutions they’ve grown accustomed to and can expect continued enhancements to our suite of products and solutions through strategic and organic growth investments.”
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