TA Associates and Updata Partners have made a significant investment in the Nintex Group, a provider of workflow software solutions. The new investment by TA Associates and Updata Partners will add to an existing investment in Nintex by Macquarie Capital, which will retain a minority ownership position in Nintex.
“Nintex is an attractive investment for a number of reasons, including strong organic growth and momentum, a successful global partner distribution network, exceptional customer satisfaction and a deep management team,” said Harry Taylor, a Director at TA Associates who will join the company’s Board of Directors.
Nintex is a workflow software company with more than 4,000 customers in 90 countries. Nintex Workflow software enables organizations to automate business processes quickly and easily using intuitive drag and drop tools. Through its Nintex Live product, Nintex enables organizations to utilize cloud services to extend workflow functionality outside of the firewall to remote users, customers and suppliers. Nintex has global headquarters in Melbourne, Australia, US headquarters in Bellevue, WA, and offices in Kuala Lumpur and London (www.nintex.com).
“We chose TA and Updata for their extensive experience and proven track record helping established software companies become standout market leaders,” said Brett Campbell, co-Founder and Global VP of Alliances of the Nintex Group.
TA Associates makes buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. Since founding in 1968, TA has invested in over 425 companies globally and has raised more than $18 billion in capital. The firm was founded in 1968 and has offices in Boston, Menlo Park, London, Mumbai and Hong Kong (www.ta.com).
Updata Partners is a technology-focused growth equity firm with nearly $500 million of capital under management. Updata invests in software, internet, and technology-enabled services companies. The firm is headquartered in Washington, DC (www.updatapartners.com).
“We have been aware of Nintex for several years, watching the company continuously outperform and establish a leadership position in workflow solutions on the Microsoft SharePoint platform,” said John Burton, a General Partner at Updata Partners, who will join the company’s Board of Directors as Lead Director. Jon Seeber, a Principal at Updata Partners, will also join the Nintex Board of Directors.
Gilbert + Tobin and Goodwin Procter are providing legal counsel and KPMG is providing accounting advisory services to TA Associates. Proskauer Rose is serving as legal counsel to Updata Partners. Allens is serving as legal counsel and Spurrier Capital Partners and Macquarie Capital are providing advisory services to Nintex.
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-28-13
