Thoma Bravo has agreed to acquire Anaplan, a business planning software company, for $10.7 billion.
San Francisco-based Anaplan (NYSE: PLAN) provides cloud-based business-planning software used by a range of businesses to integrate forecasting and monitoring into a central system to provide data and decision-making support. The company’s proprietary Polaris Calculation Engine and Hyperblock technologies are used by more than 1,900 worldwide customers.
Anaplan, led by Chairman and CEO Frank Calderoni, was founded in 2006 in the United Kingdom by Guy Haddleton, Sue Haddleton and Michael Gould. Through the end of January 2022, Anaplan had revenues of $592 million and a negative EBITDA of $173 million.
“We are thrilled to partner with Thoma Bravo to build on the strength of our innovative platform and capitalize on the massive opportunity and incredible demand we are seeing,” said Mr. Calderoni. “This is a clear validation of our team’s outstanding work and the start of an exciting new chapter for Anaplan, our customers, and our partner ecosystem. We are confident that Thoma Bravo’s resources and insights will help us accelerate and scale our growth strategy.”
Thoma Bravo specializes in investing in application, infrastructure and security software and technology-enabled services businesses. The firm’s investments typically are in the form of take-private transactions, leveraged buyouts and growth equity investments in established companies that have or can quickly reach EBITDA of greater than $50 million. Over the past 20 years, the firm, with offices in Chicago, Miami and San Francisco, has acquired more than 300 software companies totaling over $85 billion in enterprise value.
“Anaplan is a clear leader in Connected Planning, solving critical business priorities for the world’s largest enterprises as they implement strategic and complex digital transformations,” said Holden Spaht, a managing partner at Thoma Bravo. “We have followed Anaplan for years and have seen the incredible value they bring customers through their best-in-class planning platform. We look forward to leveraging Thoma Bravo’s extensive operational and investment expertise in enterprise software to support Anaplan in its future growth.”
Financing for the transaction is being provided by Owl Rock Capital, Blackstone Credit, Golub Capital and Apollo Global Management.
Goldman Sachs and Qatalyst Partners are the financial advisors to Anaplan.
Thoma Bravo’s purchase of Anaplan is expected to close in the first half of 2022.
© 2022 Private Equity Professional | April 5, 2022
