Private equity firm Thoma Bravo has acquired PowerPlan, a provider of accounting, tax and capital budgeting optimisation solutions for capital asset-intensive businesses, from current investors JMI Equity and TPG Growth.
Financial details of the deal have not been disclosed.
“PowerPlan has addressed the information gaps that develop between finance and field operations in asset-centric businesses, and established a market-leading software company that is critical to all of its customers’ operations,” says Scott Crabill, a managing partner at Thoma Bravo.
“It’s exciting to be able to put our software experience and buy and build philosophy to work for PowerPlan,” added Holden Spaht, a managing partner at Thoma Bravo.
“We look forward to having Thoma Bravo’s support in identifying and pursuing opportunities for growth, especially given the firm’s proven track record within the enterprise management space,” says Kent Kelley, CFO of PowerPlan. “Thoma Bravo’s experience with organic initiatives and strategic acquisitions, combined with our deep domain expertise, will enable us to strengthen our product offerings and help our clients become even more efficient.”
PowerPlan was founded in 1994 and provides asset-intensive companies – specifically within the utility, oil and gas, transportation, and telecom industries – with an integrated accounting, tax, and budgeting solution. PowerPlan’s enterprise software platform enables businesses to generate more cash, mitigate compliance risk and support a culture of cost management. The company’s asset-centric accounting capabilities enable systems to run more efficiently by automating the complete asset lifecycle from planning through retirement. This results in improved cash flow and tax minimisation and helps executives manage costs at a detailed level, all while tightly controlling compliance across multiple jurisdictions.
