Thoma Bravo is exploring a potential sale of Foundation Software, a provider of software to the construction industry, in a process that could value the company at more than $2bn, according to a report by Reuters.
The report cites unnamed Amed people familiar with the matter as revealing that the private equity firm is working with investment bank William Blair on the potential transaction, which has attracted interest from both financial sponsors and strategic buyers.
Based in Strongsville, Ohio, Foundation Software provides accounting, payroll, project management and field operations software to construction contractors, with a particular focus on small and mid-sized specialty contractors.
The business generates more than $200m in annual revenue and over $100m of EBITDA, according to the sources.
Founded in 1985, Foundation Software has been backed by Thoma Bravo since 2020, when the firm made a strategic growth investment in the company.
