The exact number of the deal was not provided, with TA Associates commenting, “a transactional values in excess of $2 billion.”
Partners Group also participated in the buyout from former majority stakeholder Advent International. Unit4 CEO Mike Ettling will stay on with the company, and no management team changes are expected.
No operational changes are planned for Unit4, but the new partnership with TA is expected to accelerate the company’s vision of a “people-centric ERP", specifically aimed at the mid-market enterprise organisation sector. Likewise, the new partners will be looking at further/additional M&A’s to enter new markets and industries as well as shore up sector dominance.
As forward momentum begins to return to everyday life, new variants notwithstanding, we’re beginning to see the new face of business-as-usual. Unit4’s focus on a people-centric model could see them in exactly the right place at exactly the right time.
“Our customers have expressed a need for rapid innovation, not just efficiencies, to support their growth aspirations while continuing to navigate the headwinds of the global pandemic. We believe our game-changing software and people-first, services-based mindset will help our customers thrive as the market begins to regain its momentum,” comments Unit4 CEO Mike Ettling.
The buyout is expected to conclude in early summer 2021 pending regulatory approvals and closing conditions.