Thompson Street Capital Partners (TSCP), a private equity firm based in St Louis, has completed a single-asset secondary market transaction to continue its partnership with Gurobi Optimization (Gurobi), a provider of mathematical optimisation software.
The transaction was co-led by Hamilton Lane and StepStone, supported by a diverse group of high quality new and existing investors, and represents TSCP’s second continuation fund.
The newly formed continuation fund was established to acquire Gurobi and includes access to substantial add-on capital to drive growth initiatives, including strategic acquisitions. The transaction also includes significant equity contributions from the founders and management of Gurobi.
Gurobi provides more than 1,200 customers globally with mathematical optimisation software to leverage data into intelligent decisions via prescriptive analytics.
Since acquiring Gurobi in 2017 as a TSCP Fund IV investment, TSCP has partnered with the founders and management team to execute a value creation strategy. During TSCP’s ownership, annual recurring revenue and employee count both increased by a factor of more than eight-times.
Evercore served as financial advisor to TSCP in the transaction with Kirkland & Ellis serving as TSCP’s legal counsel. Sidley Austin served as legal counsel to Gurobi.
