Thompson Street Buys PKWARE

Thompson Street Capital Partners (TSCP) has acquired PKWARE, a provider of data security products.

PKWARE, the creator of the .ZIP file format, is a provider of enterprise software that provides encryption and data compression capabilities to thousands of regulated enterprises in the banking, financial services, healthcare and government sectors.

“For decades PKWARE has provided mission-critical solutions for thousands of customers,” said Bob Dunn, a managing director at TSCP. “We are very excited to help accelerate the company’s growth at such a pivotal time for data security.”

PKWARE’s flagship data security platform is Smartcrypt, which is used by companies to protect sensitive data, and meet compliance and regulatory requirements. PKWARE was founded in 1986 by Phil Katz and is headquartered in Milwaukee, Wisconsin. Novacap Technologies and Maranon Capital acquired PKWARE in 2009.

“Enterprises have a critical need to protect sensitive data – and one that is rapidly accelerating – as threat vectors expand and cyberattacks become more sophisticated,” said Brandon Muirhead, a director at TSCP. “PKWARE is uniquely positioned as a trusted provider of best-in-class, automated data security solutions and we are thrilled to partner with the company to support the growth of the Smartcrypt product.”

St. Louis-headquartered TSCP invests in companies with EBITDA between $5 million and $25 million. Sectors of interest include healthcare and life science services, software and technology services, business services, and engineered products. In July 2018, the firm held a final closing of its fifth fund, Thompson Street Capital Partners V LP, at its hard cap of $1.15 billion.

Boston-based investment bank AGC Partners was the financial advisor to PKWARE on this transaction.

Private Equity Professional | May 14, 2020

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