Thoma Bravo is exploring a potential sale of Foundation Software in a process that could value the company at more than $2bn, according to Private Equity Wire, which reports on a Reuters story.
Sale process and advisers
Thoma Bravo is working with investment bank William Blair on the potential transaction, according to Private Equity Wire, citing Reuters. The Reuters report cited people familiar with the matter.
The potential sale process has attracted interest from both financial sponsors and strategic buyers, according to Private Equity Wire, citing Reuters.
Company profile and products
Foundation Software is a provider of software to the construction industry, according to Private Equity Wire. The company is based in Strongsville, Ohio, according to the same report.
Foundation Software provides accounting, payroll, project management and field operations software to construction contractors, according to Private Equity Wire. The company has a particular focus on small and mid-sized specialty contractors, according to the report.
Financial metrics cited
Foundation Software generates more than $200m in annual revenue, according to the sources cited in the Reuters report as relayed by Private Equity Wire. The business generates over $100m of EBITDA, according to those same sources.
Ownership history
Foundation Software was founded in 1985, according to Private Equity Wire. The company has been backed by Thoma Bravo since 2020, when Thoma Bravo made a strategic growth investment in the company, according to the report.
