Thoma Bravo is in discussions with private credit lenders to secure roughly $600m in debt financing for its $2bn take-private acquisition of hospitality software provider Olo Inc, according to a report by Bloomberg citing unnamed sources familiar with the matter.
The all-cash deal, priced at $10.25 per share, was agreed last month and is expected to close by year-end.
The approach marks a rare instance of a PE buyer arranging acquisition financing after signing a deal, rather than with committed debt in place. For private credit managers, it represents one of the few sizeable LBO financing opportunities to emerge in 2025 amid subdued deal volumes.
