Private equity firms Summit Partners and Vista Equity Partners are considering the sale of Trintech, a financial software provider, in a deal that could value the company at approximately $2bn including debt, according to a report by Reuters.
The report cites sources familiar with the situation as revealing that the PE firms have enlisted Deutsche Bank’s investment bankers to manage the sale process, which may draw interest from other private equity firms.
Based in Plano, Texas, Trintech reportedly generates around $200m in annual revenue, with earnings before interest, taxes, depreciation and amortisation of about $90m. The owners are aiming for a valuation that exceeds 20 times the company’s core profits, the sources added.
Trintech provides cloud-based software solutions for finance and accounting departments, helping companies streamline the collection, processing and analysis of financial data to enhance business performance. The company serves about 4,200 organisations across various sectors, including retail, technology and manufacturing. Notable clients include Toyota Motor Corp and the Dallas Cowboys.
In 2023, Trintech expanded its customer base by acquiring a financial software business from Fiserv, adding 400 new clients. Summit Partners acquired a majority stake in Trintech in January 2018 from Vista, which initially invested in the company in 2015 and still retains a stake.
